Indian app market to reach `2.7k crore

According to reports the number of Smartphone users in India is expected to reach a populace of 67 million by the end of the year 2013 and 382 million by the end of the year 2016. Subsequently even the number of 3G subscribers will also see a rise from 56 million to 266 million by the year 2016.

The report states that more than 50 percent of mobile internet traffic and paid content revenues are generated by smartphone users. Going by this Apple and Google app stores are expected to generate a revenue of Rs 800 crore by 2016. Corresponding with the increase in smartphone users the Indian apps and games market will reach Rs 2700 crore by the year 2016. The company which conducted the study, Avendus Capital, indicates that India has been sub-scale till date due to large scale piracy. And the mobile internet market is opening the doors for large-scale monetization of digital content via paid-apps.

The report also adds that there will be an increase in the feature phone market which will help the game ecosystem grow in the next few years.