Digital Economy of India to touch $800 billion by 2030

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#DigitalEconomy #WhatsApp #SupremeCourt

Digital Economy to touch $800 billion



India’s consumer digital economy which was pegged at $85-90 billion in CY 20, is expected to become a $800 billion market by 2030. The digital economy includes 60% of travel, 40% of non-grocery retail, 30% of education, 25% of food and beverages services and 6% of Pharma/Grocery going through digital channels by CY30, as per the data of RedSeer. With this growth we could forecast the next wave of entrepreneurs will create innovations which will make the Indian model successful globally. During these difficult times, most of the enterprises faced the challenge that their current levels of cybersecurity are not enough to protect their endpoints and servers.



The year 2020 has started with COVID-19 and a pell-mell shift to remote work, and finished with the gut-punch of a major breach that put hundreds of organizations into frantic access-and-remediate mode. The consequences of the pandemic’s rapid shift to work-from-home — and the exponential adoption to cloud technology that it helped drive — include lesser visibility into the security ecosystem, lesser control of access points, and a larger, more varied attack surface for adversaries to target. Over the course of the pandemic, there has been an escalating number of cyberattacks designed to exploit vulnerable remote workers and people who are desperate for information about the virus and vaccine. About 52% of Indian organizations fell victim to a successful cybersecurity attack in the last 12 months. Of these successful breaches, 71% of organizations admitted it was a serious or very serious attack, and 65 per cent said it took longer than a week to remediate.

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    Digital Economy to touch $800 billion



    India’s consumer digital economy which was pegged at $85-90 billion in CY 20, is expected to become a $800 billion market by 2030. The digital economy includes 60% of travel, 40% of non-grocery retail, 30% of education, 25% of food and beverages services and 6% of Pharma/Grocery going through digital channels by CY30, as per the data of RedSeer. With this growth we could forecast the next wave of entrepreneurs will create innovations which will make the Indian model successful globally. During these difficult times, most of the enterprises faced the challenge that their current levels of cybersecurity are not enough to protect their endpoints and servers.



    The year 2020 has started with COVID-19 and a pell-mell shift to remote work, and finished with the gut-punch of a major breach that put hundreds of organizations into frantic access-and-remediate mode. The consequences of the pandemic’s rapid shift to work-from-home — and the exponential adoption to cloud technology that it helped drive — include lesser visibility into the security ecosystem, lesser control of access points, and a larger, more varied attack surface for adversaries to target. Over the course of the pandemic, there has been an escalating number of cyberattacks designed to exploit vulnerable remote workers and people who are desperate for information about the virus and vaccine. About 52% of Indian organizations fell victim to a successful cybersecurity attack in the last 12 months. Of these successful breaches, 71% of organizations admitted it was a serious or very serious attack, and 65 per cent said it took longer than a week to remediate.

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    India's digital economy is expected to touch $800 billion by 2030 making it the third-largest digital economy, said a report by consulting firm Redseer on June 30. It was pegged at $85-90 billion in 2020. Online retail is set to become the third-largest online retail market by scale by CY30 with an annual gross merchandise value (GMV) of $55 billion in CY21 and $350 billion in CY30, said RedSeer at its flagship event Ground Zero 5.0. India is going to become the 3rd largest online retail market by CY30. E-Logistics in India has become the fastest growing market globally with over 3 billion shipments in 2020. India traditionally had an inefficient supply chain with a slow and undemocratic access. With the rise of e-commerce, the need for specialised delivery services emerged, which has led to the overall growth of the logistics segment. With multiple startups enabling kiranas with cashless payments and digital bookkeeping, the segment is expected to achieve $1.5 trillion sales by 2030.



    COVID-19 has caused an inflection in e-commerce penetration across smaller cities. The emergence of this sector has created 5lakh employment for gig workers in 2021 across captive and 3PL. The new-age 3PL logistics players have delivered 850 million shipments in 2020. There is a sharp rise in digital content and advertisements see higher demand. On the other hand, online content is seeing phenomenal growth leading to the overall growth of the digital ad industry as well. Digital content is emerging as the bellwether of demand creation for time spent. India, one of the largest economies, is surging ahead on content and smartphone usage. Monthly active users have become democratised with increasing adoption of varied digital services and platforms.


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    India’s journey to a $1-trillion consumer internet economy has been a unique story of multiple internet sectors such as e-tailing, e-health, food tech, online mobility, and quick commerce, coming together to create a strong foundation for a consumption-led growth engine. The ongoing journey from digital-first to digital-forward was a result of multiple internet sectors having shown strong momentum post-COVID, as per RedSeer. Investors are recognising India’s golden opportunity without a second thought. In 2021, more than $40 billion of funding and 42 new unicorns were born. This is primarily because the country’s economy is becoming more skill-based and services-oriented, so more jobs are being created for skilled workers, which in turn is a major draw for investors. It has been fueled by a mix of burgeoning internet penetration rates, access to high-speed internet, and rising demand for online shopping and digital content consumption. India is home to an extremely distinct, heterogeneous population

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    Northern Sky Research (NSR) in its Global Space Economy, said in its second Edition report, is projecting that the Global Space Economy will be worth $1.25 trillion (€1.12tn) by 2030. Further NSR is projecting strong revenue potential across all key segments, underpinned by record setting investment and both public and private sector demand for space products and services. With over $1.25 trillion in cumulative revenue projected by 2030, the space industry growth trajectory trends upwards at a 6.25 percent CAG. Satellite & Space Infrastructure is the largest segment today, with burgeoning demand from the Crew & Cargo market as the leading revenue source. Close behind are key infrastructure markets such as Satellite Communications, Earth Observation, Situational Awareness and Science & Technology. Altogether, the Satellite & Space Infrastructure market will generate over $570 billion in revenue by 2030, says NSR. But these traditional revenue generators are changing. NSR says that by decade’s end, the report observes Satellite Communications Services overtaking Infrastructure to become the dominant market in terms of annual revenues.

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    Low-code is a technology that allows developers to create apps and interactive platforms without hard-coding language training. It uses visual tools and pre-built modules to help users create a UI for their apps. The current market value of the low-code industry is 13.2 billion dollars. This is also enabling users to create solutions that reflect specific data inquiries and workflow processes; their low-code/no-code-crafted programs can also easily be integrated into larger business processes. Low Code No Code (LCNC) is a suite of visual drag-and-drop tools that developers may use to create apps with a comprehensive user interface, integrations, data management, and logic. According to a survey by Nasscom, LCNC software solutions produced over $400 million in revenue for Indian IT service providers and startups in fiscal 2021. With the appropriate levers, this sector can expand to $4 billion by 2025. The global low-code/no-code market is projected to total $13.8 billion in 2021.Global markets account for over 70% of the income generated by Indian enterprises in this sector.

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    IND vs SL | T20 | Final | Match Preview and Stats | Fantasy 11 | Crictracker

    IND vs SL | T20 | Final | Match Preview and Stats | Fantasy 11 | Crictracker

    Welcome to the exhilarating showdown between India vs Sri Lanka in the T20 series! Get ready for an electrifying clash as these two powerhouse teams, fueled by raw talent and strategic brilliance, lock horns for cricketing supremacy.

    Join us as the India, led by their charismatic captain, face off against the Sri Lanka, determined to showcase their prowess on the pitch. With star-studded lineups boasting top-tier international players and emerging talents, expect nothing short of cricketing excellence and heart-stopping moments.

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