The Internet has become an integral part of people’s lives, but the Web 2.0 version we know today might be in danger of becoming obsolete soon, because there are new revolutionary approaches to the internet mobile app development company Chennai that might replace it in the years to come – one of which could take the world by storm and leave its mark on everything from business to online gaming and beyond. It’s called Web 3.0, and it might take some time before becoming mainstream, but it will definitely happen when enough people start realizing its potential and incorporate it into their everyday life.
1) 250 million internet users: The next frontier
This number is expected to grow exponentially by 2023, with an estimated 500 million internet users in India. These numbers are staggering and present plenty of opportunities for the country in the web 3.0 era, as long as there are easy avenues through which Indian start-ups can access this number of people via their products and services.
2) Internet users are more affluent and spending more on ecommerce
The total number of internet users in India has crossed the 350 million mark, making it the second largest online population in the world (just behind China). This means that more and more Indians are becoming digitally literate and are at an advantage because they have access to various resources through internet usage.
3) 120 million smartphones sold every year
When people think of web development design technology and internet companies, they tend to focus on Silicon Valley and American-based technology companies such as Facebook, Twitter, and Microsoft. However, India has seen some major growth in the tech sector in recent years with more than one billion active mobile subscribers and over 120 million smartphones sold every year. This has fueled the country's growth in the Information Communication Technology (ICT) sector from $100 billion USD to an estimated $225 billion USD by 2023 according to Bloomberg Global Research.
4) Cell phones are cheaper than ever before
India, now the second-largest smartphone market in the world, has gone from being dominated by low-end devices to ones that are now comparable to those sold in developed countries. In addition, smartphones with larger screens and multi-gigabyte memory cards have come down dramatically in price… With more than 250 million Indians using Facebook on their phones, web connectivity and mobile data rates are set to grow exponentially over the next decade or so – paving the way for an internet renaissance.
5) Connectivity got better and data plans became cheaper
India has the second largest internet population, yet the slowest connection in Asia-Pacific region, with only 4% of its 1.3 billion population using broadband connections and 14% connected to the internet via mobile devices like smartphones or tablets. However, data plans in India are now more affordable than ever before which has significantly helped propel Internet growth over the past few years and this trend is set to continue well into 2023.
6) 50%+ of the population live in urban areas
Urbanization continues to be one of the key trends impacting India's growth and development over the coming decades. More than half of Indians live in urban areas, leading to more and better-connected cities, more opportunities for innovation, and significant trade and manufacturing opportunities. The urban population (those living in towns or villages) will rise from 31% today to 66% by 2050. In 2010, there were just 34 Indian cities with populations of over 1 million; this number is expected to grow by 15 times by 2030.
7) There's a growing need for entertainment
Today, entertainment has shifted to largely being digital in form, available on the internet and other digital outlets like mobile devices, games consoles, and televisions; whether that be through streaming services like Netflix or BBC iPlayer or social media platforms like YouTube and Instagram.
Conclusion
India has reached the tipping point where mobile broadband speeds are enough to support how web design real-time access to complex applications such as streaming video and interactive websites, allowing Indian and users alike to be able to reach true digital empowerment and compete on the world stage with 1.2 billion people online by 2023. By following these trends, there's no doubt that the next Web 3.0 opportunity awaits right here in India.
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