Indian Viewers Spending Over an Hour Daily on OTT Video Platforms
Rising disposable income, reducing
smartphone prices, increasing internet penetration and availability of
exclusive regional content on OTT platforms to drive OTT video services market
in India through 2023
According
to TechSci Research report, “India
OTT Video Services Market By Streaming Type, Competition Forecast &
Opportunities, 2017-2023”, India OTT video services market is
projected to register robust double-digit growth at a CAGR of more than 30%. Growth
in the market is expected to be driven by growing internet penetration, rising trend
of Bring Your Own Device (BYOD) and increasing adoption of cloud computing, in
addition to reducing prices of smartphones and data packs. Booming youth
population, improving broadband
network infrastructure and growing number of platforms to access online video
content such as smartphones, tablets, desktops, laptops and smart TVs are also
anticipated to drive the market in the coming years. Over The Top (OTT) is a
solution that enables an individual or an enterprise to transfer content such
as audio, video, text and images over the internet, without the involvement of
any system operator or provider for distribution of content. According to a survey conducted
by TechSci Research, on an average, 73 minutes are being spent by an Indian
viewer per day on an OTT video platform.
Browse 14 market data
Tables and 27 Figures spread through 80
Pages and an in-depth TOC on
"India OTT Video
Services Market" https://www.techsciresearch.com/report/india-ott-video-services-market/3164.html
Ease of use and availability of exclusive
and original content, especially regional content, by OTT video services
players upon subscription is propelling the demand for OTT video services among
the youth. Moreover, the mindset of Indian consumers is changing, and they have
started subscribing on OTT platforms by paying subscription fees rather than
merely enjoying free OTT video services. Rising demand for Video on Demand
(VOD), Subscription Video on Demand (SVOD), Internet TV, expanding online user
base and introduction of new technologies, etc., are also resulting in
significant growth in online video viewers’ traffic, thus propelling the demand
for live streaming of video content on the OTT video services platforms.
Moreover, increasing consumer inclination towards online media content access
over multi-screen platforms along with rising Watch-on-the-Go trend is further
anticipated to drive India OTT video services market through 2023. YouTube,
Hotstar, Amazon Prime, Sony LIV and Netflix are the
five major companies operating in India OTT video services market.
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“Rapid growth in
media & entertainment sector in India is driving growth in online content
exchange such as online videos, online music streaming services and downloads,
online games, etc. Rising penetration of smartphones, smart TVs and other
handheld devices, availability of exclusive and original regional content and wider
content availability on the internet such as TV shows, movies, live sports,
etc., is positively impacting the market for OTT video services in the country.
Moreover, OTT video services players’ tie-ups with telecom operators is
creating an attractive collection of video content across various genres for
the customers. Furthermore, it is anticipated that the average revenue per user
(ARPU) will increase steadily during the forecast period and further propel the
video streaming market, which in turn would aid India OTT video services market.”,
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“India OTT Video Services Market By
Streaming Type, Competition Forecast & Opportunities, 2017-2023” has evaluated the future growth potential of India OTT
video services market and provides statistics and information on market size,
structure and future market growth. The report
intends to provide the intending clients with cutting-edge market intelligence
and help them in taking sound investment decisions. The report also identifies
and analyzes emerging trends along with essential drivers and key challenges
faced by India OTT video services market.
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