Increasing smartphone users and the growing availability of Internet facilities, along with a rising number of content creators, is expected to drive India's OTT services market till 2026. The market size of India OTT services was around USD1.4 billion and is expected to reach USD5 Billion by growing at a CAGR of around 29% till 2026, according to a report "India OTT Services Market Size & Forecast 2026" published by chrome Media.
Rising internet and network connectivity penetration in the semi-urban and rural areas has been increasing significantly, with more than 25% of the rural population having access to it. Furthermore, growth in the media & entertainment sector and rising smartphone users across the country are a few of the primary demand generators driving the growth of OTT services in India. In terms of per capita data consumption of online video, India ranks second globally. India has also been one of the lowest cost mobile data, around USD0.25/GB.
The report offers insights around the current market scenario, which comprises the market size growth rate, market drivers, challenges, current trends, and opportunity areas. The report also includes detailed market segmentation and key competitors present in those segments.
COVID-19 affected the content consumption habit of many people in India as the resulting lockdown meant that Indians spent much more time on the OTT platform as new and better-quality content was easily available on those platforms. Consequently, India witnessed significant growth in OTT consumption, which resulted in OTT becoming a threat to the Television industry.
The northern part of India, which comprises large population bases, accounted for the highest share in the country's OTT market, followed by the West. This share is expected to remain the same due to the high population share of North coupled with a large population base having a similar language which results in similar content being generated for the majority of the population. In terms of platform usage, smartphone and laptop are the top two segments dominating the overall OTT services market and are expected to increase their share during the forecast period.
Key market players, which are covered in the report include:
• Disney+ Hotstar
• Amazon Prime
• Netflix
• Sony Pictures India
• Jio Cinema & Jio TV
• Voot
• Zee Entertainment
• Hoichoi
• MX Player
• Eros Now
The report bifurcates the OTT Services Market by Type and by Platform. Based on type, the report segments the market into Communication services, Media services and Application services. In terms of market share by platform usage, the reports cover percentages by Smartphones, Smart TVs, laptops, gaming consoles and others.
The report, “India OTT Services Market”, has been developed by gathering primary and secondary sources. Primary research conducted during the process includes interviews with OTT product & solution providers and various industry experts. Secondary research includes an exhaustive search of relevant publications such as company annual reports, financial reports, news articles and other proprietary databases.
About Chrome Data Analytics & Media
Chrome DM is a technology-driven market research firm with a Pan-India on-ground presence. As of September 2017, the organization has a team of 650+ field staff, 150+ managerial staff and 450 tele-callers speaking over 22 languages to gather data from 5817 towns. With over 5,99,623 villages, Chrome DM also has an unprecedented reach into Rural India. Since its inception, Chrome DM has worked with some of the biggest brands across industry verticals, including Dabur, Gionee, Lava, Sony, Samsung, Government of Rajasthan, BJP, Employee Provident Fund Organization, Star India, Bureau of Energy Efficiency, Times Group, Future Group, Mercedes, Cafe Coffee Day, Zee, Soulflower & Mahindra amongst other reputed organizations, by providing them research & advisory.