7 Reasons Why India is poised for a Web 3.0 explosion, 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 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 Mobile app development company Chennai opportunities for the country in the web 3.0 era, as long as there are easy avenues through which Indian startups 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 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.
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.
Engineers in India are paid nearly not as much as what an American designer would charge for a similar work. The measurements say that the organizations can save half (and we kid you not) on recruiting costs. Doesn’t this distinction make recruiting designers in India an engaging arrangement?
Recruit designers in India / India has a huge Specialist swarm
Today, India makes roughly 18% of the total populace. Consistently, a great many understudies apply to the top Indian establishments to make their science, innovation, and designing professions. This has brought about around 2.6 million innovation graduates consistently in India. I surmise this additionally legitimizes why the interest of the far off nations in India is developing.
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.
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India has reached the tipping point where mobile broadband speeds are enough to support real-time access to complex applications such as streaming video and interactive websites, A Web development Design allowing Indian web development companies 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