Half of the World Population Will Be Using Internet By 2016

In this period of Digitization, every business needs to go online as the world itself is a small global village. Each and every business of this world is trying to expand from its niche to global market. According to a recent survey by The Boston Consulting Group, “By 2016, there will be 3 billion Internet users globally, and the Internet economy will reach $4.2 trillion in the G-20 nations.” The above result indicates how businesses are striving to attain their part of the market.

According to Steve Wojtowecz, vice president of storage software development at IBM, statement there will be over a trillion devices connected to the internet by 2015. In some countries the Internet is contributing more than 8 percent of GDP and also creating jobs. Many companies require improving their people, processes, and organizational structures and making them acclimatize digital transformation in order to adapt this rapid pace of change and the intensity of competition globally.

According to survey results developing G-20 countries have 800 million Internet users that are much more when compared to the developed G-20 countries all grouped together. Social networks reach about 80 percent of users in both developed and developing economies look similar in the trend. Mobile devices like Smartphones and tablets, will account for four out of five broadband connections by 2016. “US will account for 25 percent of the total Internet economy in 2016, down from about a third today. The U.S.’s Internet economy is growing slower than that of the U.K,” said Dominic Field, a partner at BCG

There is enhancement in the economic impact of the Internet and already has a tremendous base. In the U.K., the Internet’s contribution to 2010 GDP is more than any other sector. The developed markets of the G-20 will have a growth rate of 8 percent over the next five years. SMEs, the primary engine of economic growth in many economies has already understood the importance of the Internet to build their businesses. According to BCG survey results, “In the U.K., sales at high-Web companies increased six times as fast as revenues at firms with no Internet presence. And in U.S. SMEs have integrated the Internet into their businesses. They are much more aggressive online than low-Web companies, particularly in activities such as search engine optimization, social networking, buying from and paying suppliers.”

The Internet will change even more and it will have more users, mobile users, more users using various devices throughout the day, and many more people engaged in an increasingly participatory medium. Companies that have not yet developed an online plan of action for them need to build their digital assets that might help them for tapping opportunities.

Half of the World Population Will Be Using Internet By 2016