India is one of the fastest growing markets in the world with the second largest population of 1339M people and average age of 28 years. India’s GDP growth rate has consistently been above 5% for the last ten years, aiming for a 7,36% growth rate in 2018. It is a country where most people are young, two thirds of the population still live in rural areas and more people have access to 3G and 4G network than they do to electricity.
With over 460 million internet users, India is the second largest online market in the world. It’s also the second highest number of mobile subscribers and second largest smartphone market. Access to internet is on a fast rise, mainly due to the spread of data-enabled phones. The average mobile connections penetration is 86% and in 2018, mobile devices will account for 73% of time spent using the internet — up from 70% in 2017.
Smartphone ownership in India has rapidly become more affordable to users due to government promoted competition and consumer benefits. Mobile data usage has has increased 15 times in 3 years, from 0.26 GB per person per month in the end of 2014 to over 4 GB per person per month at the end of 2017, as per the TRAI data. Much of which is driven not only by falling 4G data prices, but availability of rich media content. Average data price in India is roughly INR 15-20 per GB (USD 0.20 - 0.30).
Mobile solutions are even believed to be the answer to many social problems - including access to health care or even panic buttons to enhance women’s safety.
Fortumo is a digital enablement platform for app stores and digital service providers for user acquisition, monetization and retention. The company connects service providers with more than 350 mobile operators across Asia, Europe, Latin America, the Middle East and Africa.
Service providers use Fortumo’s platform to manage the end-to-end customer lifecycle of mobile users on these networks through the company’s bundling, carrier billing and messaging solutions.
Fortumo’s platform is used by thousands of leading digital merchants including Google, Spotify, Electronic Arts and EasyPark. Founded in 2007, Fortumo has offices in San Francisco, Madrid, Beijing, Delhi, Singapore, Estonia and Hanoi. For more information, please visit https://fortumo.com.