Indian M-eCommerce industry to exceed $19 billion by 2019
The shift in the e-commerce industry is happening and it is taking place at a brisk pace. People participating in the online shopping industry are more leaning towards the mobile-commerce, commonly known as m-commerce. The trend is omnipresent so much so that the practice in India is outdoing any country around the world and has posted an unimaginable growth rate of 131%.
The number of smartphone users in India as known to all is at all times high, however the application users is also picking at an unpredictable rate. It was 21% in May 2014 and it has gone up to 54% this year. This is an outcome of a sample research finding wherein the real-time usage of mobile data of 8,000 handsets around the country were monitored.
According to an estimate around 9 billion apps will be downloaded by the end of 2015. This if achieved would be 5 times more than what it was in the year 2012 with a CAGR (cumulative average growth rate) of a whopping 75%.
At present, India is world’s second largest Internet using country with 300 million users, this number was much lower at around 278 million during the October of 2014. However, the industry is projected to be filled with growth potentials as the count of Internet users is about to cross 500 million in the next 2 years.
Although free apps are favorites among the users, there are massive revenues flowing in from the paid applications segment. This year (2015) the earnings is projected to go beyond 1500 crores INR, which will be a straight 600 crores more than the income in 2014.
Indian App Industry estimated to be worth 1500 crs by 2015 is calculated to go beyond 2,000 crs by 2016
The market for smartphones is expected to experience a boost as 3G connectivity is widespread and the introduction of the updated 4G technology is only going to heat up the competition further.
Global top heads of the technology industry are constantly researching and discussing the upcoming trends in the mobile app market and the “Apps India 2015” is one such happening meetup. This event has the best tech companies coming together such as Google, IBM and many more.
There are important discoveries related to the app industry in India which is now coming out in open. The job opportunities provided by the industry is one of the highlights as there are around 75,000 direct jobs created within the app economy. The number of jobs related to the industry is sure to exceed 6,00,000 in the near future.