G20 Web Economy to double by 2016

According to a study commissioned by Google, the value of the web economy in G20 countries is set to almost double by the year 2016.

The main factor attributed to this huge growth, according to the Boston Consulting Group who conducted the research, will be the rise of mobile internet access. The web economy is predicted to go from $2.3 trillion to $4.2 trillion over the next four years with almost 50% of the world's population using the internet.

The traditional method of internet access with a PC and wired connection is expected to become a rarity with an anticipated 80% of users choosing to access the internet via their mobile phones. Another reason mobile internet is expected to become the norm is due to the rapid fall in the cost of smartphones, with manufacturers offering budget handsets so more people can enjoy the smartphone experience.

The main theme of the research suggests that a "new internet" will emerge whereby going online will not be considered a luxury and the internet will go social with customers and companies engaging with each other more. It is expected that the majority of users will be in emerging markets with the likes of China expecting to increase to over 800 million internet users and 80% of all the internet users will choose to access the web via their phones.

The affordable smartphone technology is not the only driving force in the increase as it is anticipated that the rise of the "internet of things" will also push the growth. With technological advances allowing anything from sensors, cars and radiators to connect to the web these shifts in internet use will also add to the web's economic growth.

If these predictions are correct it will be soon be considered that internet access falls under an essential utility like running water or electricity.