Paytm CEO Vijay Shekhar Sharma on Sunday said the era of the American internet is coming to an end with the advent of India and China, which now account for nearly 50 per cent of global mobile traffic.
“This is the end of the American Internet as we knew it,” he tweeted in response to a graph shared by industry analyst Benedict Evans. The graph, shared on Twitter, shows India and China accounting for nearly half of global mobile traffic. The Paytm boss said that the increase in mobile traffic is one of the big reasons why India’s strong data governance law is timely.
In June this year, India released a draft National Data Governance Framework Policy for public consultation. Minister of State for IT Rajeev Chandrasekhar said his government’s vision is to create a modern framework for data governance that will drive India’s digital economy.
India’s share of mobile traffic has grown from 2 per cent to 21 per cent in the last decade. According to a November Ericsson Mobility Report, rapid 5G deployment by Indian telcos will enable 5G subscriptions to reach around 31 million by the end of 2022 and 690 million by 2028.
Total mobile data traffic in India is expected to grow at a compound annual rate of 19 percent from 18 exabytes (EB) per month in 2022 to 53 EB per month in 2028.
This is due to the rapid increase in the number of smartphone users as well as the increase in average smartphone usage. Smartphone subscriptions in India as a percentage of total mobile subscriptions are expected to grow from 77 per cent in 2022 to 94 per cent in 2028.
The number of 4G subscriptions in India is predicted to reach around 930 million in 2024, then drop to an estimated 570 million by the year 2028. As per the report, there will be a total of 8.4 billion mobile subscriptions by the end of 2022. and 9.2 billion by the end of 2028.