India OTT Video Services Market to Witness Over 30% CAGR until 2026
Increasing
smartphones users, rising internet penetration, and innovation in OTT platforms
to drivers India OTT video services market
According to a recently released TechSci Research
report, “India OTT Video Services Market By Streaming Type, By Region, By
Company, Competition, Forecast &
Opportunities, 2025”, OTT video
services market in India is projected to grow at a CAGR of more than 30% during
FY2021 - FY2026. Major factors driving the market include increasing smartphone users, rising internet
penetration, cheaper internet plans, increasing income levels, among others. Additionally,
increasing urban population, which rose to 35% in 2020 from 32.7% in 2015, coupled
with a rising number of market players focusing on price innovation, content
creation and acquisitions & partnerships have been positively influencing
the country’s OTT video services market. Another factor that has augmented
market growth over the last few months is the outbreak of coronavirus
(COVID-19). With the impact of
COVID-19 restrictions keeping most people at home, Indians are now spending
more time on over-the-top (OTT) video services than ever, which in turn, is fueling
the market.
India OTT video services
market is categorized in terms of Streaming Type into Video-on-Demand and Live. Video-on-Demand segment has been accounting
for the majority share in India OTT video services market and will continue to
dominate the country’s OTT video services market until FY 2026. This is due to significant
consumer shift from traditional media to digital online streaming services and
convenience of accessing video anywhere at any time.
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In terms of region, India OTT
video services market is categorized into North, South, East & West.
North region dominated the market for OTT video services in FY 2020, followed
by West, South and East regions. This regional trend is expected to continue in
the coming years. North and West regions
are expected to continue their dominance on account of a higher number of
customers preferring to watch movies, series, etc., on OTT video services
platform. Major players operating in India OTT Video Services Market include Zee
Entertainment Enterprises (Zee5), Novi Digital Entertainment Pvt Ltd (Disney + Hotstar),
Amazon Development Center India Pvt Ltd, Netflix Entertainment Services India
LLP(Netflix), ALT Digital Media Entertainment Limited and others.
Leading players are increasing their focus on content creation and price
innovation, alongside looking into strategic acquisitions & partnerships to
maintain sustainable growth in the market.
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“India OTT video services market is expected to grow at a
steady pace due to the increasing demand for OTT video services among consumers,
predominantly on account of rising penetration of internet and a rapidly
growing young population using 4G portable devices coupled with rising income
levels across the country. Adults and young adults are
the primary users of OTT video services, and they are also the target consumer
segments for the major OTT players operating in India.”, said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“India OTT Video Services
Market By Streaming Type, By Region, Competition Forecast & Opportunities, FY
2026” has evaluated the
future growth potential of India OTT Video services market and provides
statistics and information on market structure, consumer behaviour and trends.
The report is intended to provide cutting-edge market intelligence and help
decision makers take sound investment evaluation. Besides, the report also identifies
and analyzes the emerging trends along with essential drivers, challenges, and
opportunities available in India OTT Video services Market.
About TechSci Research
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