A new study shows that the worth of the web economy in G-20 countries will increase dramatically by the year 2016. The study, by the group for mutual aid and consultation on matters pertaining to the international financial system, says the web economy presence of $2.3 trillion (in 2010) will grow to more than 4 trillion dollars. This will largely be driven by mobile devices, as mobile phones that can access the World Wide Web are becoming more and more easily accessible. In October 2011, one report put Smartphone penetration in the market at 44% in the United States. This study goes on to show that more than seventy five percent of Internet users in 2016 will be accessing the web with a mobile phone.

Close to three billion people will be using the Internet. Around the end of 2008, there were about a billion Internet users worldwide, and around the end of 2010 that number reached 2 billion. Already, according to the study, more than a couple of million people go online for the very first time eachyear,.

The report found that companies that use the Internet to sell, market and interact, using tools like social media, grow faster than companies that do not. In the United States, businesses with a medium or high Internet presence are expected to grow by seventeen percent over the next few years, compared with twelve percent for other companies. While every business can benefit from economic growth like this, the research identifies certain companies, or  internet ecosystems will try to tie users in to their customized part of the internet”, including Amazon, Apple, Facebook, Google, Baidu (China), Tencent (China) and Yandex (Russia).

Despite the current value of 2.3 trillion only compromising four point one percent of the total G-20 economies, the concept of a web or digital economy might soon be irrelevant. Digital technologies and the Internet are becoming so deep-rooted in business that the characteristic between the web economy and the economy as one whole is becoming distorted. In G20 countries, a study shows that the dissimilarity might just completely disappear by 2020.

Leave a Reply