IBEF: June 19, 2017
India has already seen an unprecedented growth in the number of internet users in India and if the projections in a recently released report are to be believed, the dream run is expected to continue for the coming years as well. According to the Cisco Visual Networking Index (VNI) Complete Forecast, internet users in the country are expected to double to 829 million users by 2021 from 373 million users in 2016, driven by digital transformation. In other words, approximately 59 per cent of the Indian population will use the internet by 2021.
The report further said that there would be two billion networked devices in 2021 up from 1.4 billion in 2016 and overall IP traffic is expected to grow four-fold during the same period of five years at a compounded annual growth rate of 30 per cent. Video is expected to continue to dominate IP traffic and overall Internet traffic growth representing 76 per cent of all Internet traffic in 2021, up from 57 percent in 2016, the report noted. India will reach 84 billion Internet video minutes per month by 2021, which is 160,000 years of video per month, or about 32,000 video minutes every second, it explained.
The rapid pace at which India’s internet economy is growing opens up a variety of opportunities across the hardware, software, ancillary and other unrelated sectors that are moving towards e-commerce.
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Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.