According to a new study by The Boston Consulting Group over 3 billion people, or 45% of the world’s population will be online by 2016, and most of them will be accessing broadband via a mobile device.

The report, which surveyed over 15,000 SMEs around the world, warned that businesses must ‘go digital’ as e-commerce is expected to grow over the next five years. Here's our top insights.

1. 80% of broadband connections will be via a mobile device

The rise of smartphones and tablets doesn’t look like slowing down anytime soon. Australians are now the highest users of smartphones per capita of any country in the world, and location-based services such as Yelp and Foursquare are gaining popularity.

Businesses should ensure their website is set up to be mobile friendly, meaning it can be read easily from a smartphone or tablet. Another (more expensive option) can be developing an app which runs on iPhone, iPad and Android devices. 

2. 90% of users are engaged in social media

The report notes that people are moving from a passive to participatory role online. In countries such as Argentina, Brazil and Indonesia more than 90% of users are engaged in social media.

While the rate of participation is lower in developed markets, having an active social media presence and strategy is a must for brands looking to connect with consumers and promote their product.

3. Businesses heavily engaged online grow seven times faster

The report found that businesses heavily engaged online, including social media, grow faster than those who do not. In the US, businesses with a high to medium digital presence expect to grow by 17% over the next three years. Those with little to no online presence are anticipating 12% growth.

In the UK, sales of businesses with strong digital engagement grew 4.1% every year between 2007 – 2010, roughly seven times faster than those with a reduced online footprint. This trend is repeated across developed economies.

4. Internet economy valued at $2.3 trillion

The report highlights the tremendous income the digital is generating across the globe. Across the G-20 nations, the internet economy was valued at $2.3 trillion, or 4.1% of the GDP in 2010. In larger economies it is contributing up to 8% of the GDP.

The growth of emerging markets continues at a break neck pace, with China soon expected to have 800 million internet users – more than France, Germany, India, Japan, the UK and the US combined.