India OTT Video Services Market to Grow with a CAGR of 17.79% through 2030F
The India OTT Video Services Market is growing due to
increasing internet penetration, affordable data plans, widespread smartphone
usage, and shift towards on-demand content.
According
to TechSci Research report, “India OTT Video Services Market – By Region, Competition, Forecast & Opportunities, 2020-2030F”, the India OTT Video Services Market was valued at USD 8.94 Billion in 2024
and is expected to reach USD 23.88 Billion by 2030 with a CAGR of 17.79% during
the forecast period. The India OTT (Over-the-Top) video services market has
witnessed remarkable growth in recent years, driven by various factors such as technological
advancements, increased internet penetration, and a shift in consumer
preferences. With the proliferation of smartphones and affordable data plans,
the OTT market in India has become one of the largest globally, catering to
millions of subscribers seeking on-demand entertainment across genres.
Platforms like Netflix, Amazon Prime Video, Disney+ Hotstar, and regional
players such as ZEE5, MX Player, and ALTBalaji are expanding their reach by
offering a variety of content in different languages to capture the diverse
Indian audience. This shift from traditional television viewing to OTT
platforms has fundamentally transformed the way Indians consume media,
presenting significant opportunities and challenges for industry players.
One of the key drivers of the OTT
market’s growth in India is the increasing accessibility to high-speed
internet, especially with the introduction of affordable 4G and 5G services. As
internet data costs have come down drastically, OTT platforms have become more
accessible to a wider audience, including in rural and semi-urban regions where
traditional cable TV penetration was low. With over 800 million internet users
in India by 2024, the country represents one of the largest markets for OTT
services globally. Additionally, the rapid adoption of smartphones has further
fueled OTT consumption. India now has one of the largest smartphone user bases,
and the availability of budget smartphones with advanced features has enabled
consumers from different socioeconomic backgrounds to access video content
seamlessly, further accelerating OTT market growth.
The increasing popularity of regional
content and localized offerings has also led to the rise of niche platforms
catering specifically to these segments. While global giants such as Netflix
and Amazon Prime Video dominate the Indian OTT market, regional players such as
ZEE5, ALTBalaji, and MX Player are also making significant strides. These
platforms cater to the needs of regional audiences by offering content in
languages like Hindi, Tamil, Telugu, Kannada, Marathi, and Bengali, among
others. The demand for content in native languages is expected to increase
further, with local platforms becoming more competitive by investing in
original, hyper-local content.
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" India OTT Video Services Market”
The India OTT
Video Services Market is segmented into streaming type, and regional
distribution.
Based
on streaming type, Video-on-Demand
(VOD) has emerged as the dominating segment in India’s OTT video services
market, driven by the growing demand for flexible, on-demand content
consumption. Unlike traditional TV, VOD allows users to watch their favorite
shows, movies, and series at their convenience, without being bound by a
schedule. With platforms like Netflix, Amazon Prime Video, and Disney+ Hotstar
leading the charge, VOD services offer a vast library of content across various
genres and languages, catering to India’s diverse audience. The rise of
affordable smartphones, internet access, and changing consumer preferences has
solidified VOD as the preferred choice for entertainment.
Based on region, South is currently the fastest-growing
in terms of OTT video services. The region's significant urbanization, high
smartphone penetration, and increasing internet access have contributed to a
surge in OTT consumption. States like Tamil Nadu, Kerala, Karnataka, and Andhra
Pradesh are witnessing rapid adoption of OTT platforms, especially due to the
availability of content in regional languages like Tamil, Telugu, and
Malayalam. Additionally, South India's strong cultural affinity for cinema and
web series has driven the demand for OTT content in the region, making it the
fastest-growing market in the country.
Major companies
operating in India OTT Video Services Market are:
- Novi
Digital Entertainment Pvt Ltd
- Amazon
Development Center India Pvt Ltd
- Netflix
Entertainment Services India LLP
- Zee
Entertainment Enterprises Limited
- Sony
Pictures Networks India Pvt Ltd
- Reliance
Jio Infocomm Limited
- Times
Group
- Eros
International plc
- ALT
Digital Media Entertainment Limited
- Viacom18
Media Pvt. Ltd.
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“The India OTT Video Services Market is
driven by increased internet penetration, affordable data plans, and the shift
toward on-demand content consumption. Trends shaping the market include a rise
in subscription models, regional content, interactive and live streaming
features, and the growing adoption of smart TVs and connected devices. The
demand for localized content in various languages has also led to the growth of
niche platforms catering to regional preferences.” said Mr. Karan
Chechi, Research Director of TechSci Research, a research-based management
consulting firm.
“India OTT Video Services
Market By Streaming Type (Video-on-Demand, Live), By Region, Competition,
Forecast & Opportunities, 2020-2030F”, has evaluated
the future growth potential of India OTT Video Services Market and provides statistics
& information on market size, structure and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and opportunities
in the India OTT Video Services Market.
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