Indian e-commerce Market Estimated to Grow to $24 billion by 2015 from the Current $6.3 billion

According to the study titled Indian Digital Consumer Industry by financial services firm Avendus, the number of people transacting online is expected to touch 39 million by 2015. The estimated online transaction will further boost the Indian e-commerce market which is estimated to grow to $24 billion by 2015 from the current $6.3 billion.

Currently 8-10 million people in India transact online, which is about 11% of the 80 million internet users in the country, which represents a penetration of 7% of the population and 17% of the urban population
The study estimated the number of unique users transacting on travel sites (only) to be around 6-7 million and 2-3 million for non-travel e-commerce sites in the present day.

The online travel market was estimated at Rs 24900 crore ($5.5 billion) in 2011. In India, online travel revenues are dominated by ticket bookings, with air and train bookings accounting for close to 90% of the segment’s revenues. India, as per the study is considered one of the most lucrative markets for online travel. While 57% of the online travel revenue came from air travel, train and hotel packages contributed 37% and 5%, respectively in 2010-11. The remaining 1% was from bus bookings. Online travel is expected to grow at 22% to reach Rs 54800 crore by 2015.

The number of transacting users in the US was 170 million in 2010, comprising 69% of the overall internet users in the country. Thenumber of transacting users in The US was observed to be growing at 8% for the last six years.