New Delhi: Despite a few hiccups this year, the Indian internet industry<\/a> is expected to grow and could reach a valuation of $5 trillion by 2030, a report showed on Monday.
Home to 780 million internet<\/a> users, India is home to the second largest internet user base in the world.
\"As digital will continue to play a significant role, India's internet GMV<\/a> (not valuation) will grow to about $1 trillion by 2030, equivalent to $5 trillion in public and private market cap,a according to data by market intelligence<\/a> firm Redseer Strategy Consultants<\/a>.
An average Indian spends around 7.3 hours per day on their smartphone<\/a>, one of the highest in the world.
\"The time spent is across online messaging, social media<\/a>, YouTube<\/a> streaming, OTT content and short-form video. Interestingly, but not surprisingly, most online users come from tier 2 cities and beyond,\" the report mentioned.
There is a new trend in content consumption where the time spent on user-generated content is 2X of platform-generated content.
The drastic increase in digital consumption and increased digital penetration in Tier 2 and beyond cities are the primary growth drivers responsible for the spike in India's digital advertising ecosystem.
With an increasingly high flow of consumers from tier 2 and beyond cities adopting short video commerce, India is likely to witness a massive surge in digital ad investments instead of driving sales, the report said.
<\/body>","next_sibling":[{"msid":96676282,"title":"Samsung unveils new laptop with Snapdragon 7c+ Gen 3 processor","entity_type":"ARTICLE","link":"\/news\/samsung-unveils-new-laptop-with-snapdragon-7c-gen-3-processor\/96676282","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":96676460,"entity_type":"ARTICLE","title":"India's internet industry to reach $5 trillion valuation by 2030","synopsis":"\"As digital will continue to play a significant role, India's internet GMV (not valuation) will grow to about $1 trillion by 2030, equivalent to $5 trillion in public and private market cap,a according to data by market intelligence firm Redseer Strategy Consultants.","titleseo":"telecomnews\/indias-internet-industry-to-reach-5-trillion-valuation-by-2030","status":"ACTIVE","authors":[],"analytics":{"comments":0,"views":214,"shares":0,"engagementtimems":953000},"Alttitle":{"minfo":""},"artag":"IANS","artdate":"2023-01-02 12:07:00","lastupd":"2023-01-02 12:11:57","breadcrumbTags":["gmv","internet","market intelligence","Redseer Strategy Consultants","smartphone","YouTube","social media","internet industry"],"secinfo":{"seolocation":"telecomnews\/indias-internet-industry-to-reach-5-trillion-valuation-by-2030"}}" data-news_link="//www.iser-br.com/news/indias-internet-industry-to-reach-5-trillion-valuation-by-2030/96676460">