Driven by a rapidly growing demand for services and content as more Indians connect via the Internet using smartphones, the country's app economy is poised for strong growth, and the number of application developers is expected to exceed those in the US.
According to the Institute for Progressive Policy (PPI), India is expected to overtake the United States as the world's largest population development centre by 2024. The PPI report reveals that India has 1,674 million jobs in applied economics in August 2019, up 39% from 1,208 million in 2016. By comparison, the United States. It had 2,246 million jobs similar to those in April 2019 and the European Union, including Switzerland and Norway, and had 2,093 million jobs as of July 2019.
The results were disclosed on Thursday at an event organized by the Internet and Mobile Association of India (IAMAI). To estimate the number of core application economics jobs, the report uses a multi-step procedure based on data from online job offers. Bangalore was the leader with 362,000 jobs, followed by Delhi with 248,000 and Mumbai with 137,000 Hyderabad creating 128,000 jobs, while Pune's figure was 113,000.
IAMAI said the application economy is likely to continue to grow, as people are increasingly using mobile applications as an interface for their homes, cars, schools and health care providers. The emergence of the Internet of Things (IoT) will ensure the need for more highly functional and sophisticated applications and play a key role in interacting with the digital environment. India is already one of the leading countries in the use of mobile applications, with more than 500 million users of smartphones.
"We expect rapid demand for growth for a new generation of applications that increasingly serve as the human interface for the digital-physical industries. Companies will need internal applications for their employees and external applications for their suppliers and customers," the PPI said in its report.
A study conducted by policy research centers - ICRIER and Broadband India Forum - in July 2017 indicates that a 17% increase in total Internet traffic in India during the period 2015-16 contributed to an increase of Rs 7 million in GDP, of which at least For Rs 1.36 crore for Cure or $ 20.4 billion was due to Internet-based application services. He estimated that the Internet economy could contribute as much as $ 537.4 billion to GDP by 2020, of which at least $ 70.9 billion, or Rs. 18.28 crore, could be attributed to applications