India represents the second largest number of internet users globally with 78 crore consumers, using data available at one of the cheapest rates in the world. Although the lower cost has its flipside since it drags down the internet speed for Indians, a 5G rollout as well as connectivity via satellites in the near future, can emerged as gamechangers. Thanks to connectivity reaching a largely untapped market, India's business is reportedly poised to hit a $5 trillion valuation by 2030.
Buoyed by a demand for digital services, the Gross Merchandise Value (GMV), which is the total value of sold products till 2030, will reach $1 trillion. That GMV is the same as $5 trillion when the public and private market cap is taken into consideration.
A bulk of internet users are from tier 2 cities instead of metros, and are spending time on messenger apps, social media and streaming platforms, which is among highest in the world. People are also spending twice the time consuming user-generated content, as compared to what platforms are generating.
Expenditure by firms on digital advertising is also expected to witness a massive surge as more users from smaller cities are benefiting from short video commerce.
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