The latest report by IMARC, titled “India Over the Top (OTT) Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028”, finds that India over the top market is expected to grow at a CAGR of 23.8% during the forecast period (2023-2028). Over the top (OTT) refers to streaming services that deliver content to digital users directly without the need for cables or satellite television subscriptions. Unlike conventional broadcasting mediums, OTT can be downloaded and viewed on user demand on numerous internet- connected devices, such as consoles, smartphones, tablets, and personal computers (PCs). In recent years, OTT has gained momentum in India as it provides various features, including audio, video, Voice over Internet Protocol (VoIP) services, communication, and gas, which are accessible and economical.
India Over the Top Market Trends:
One of the primary factors driving the market is the increasing penetration of high-speed internet and the growing demand for content within the media and entertainment domain, especially after the implementation of mandatory lockdowns followed by the sudden outbreak of the coronavirus disease (COVID-19) pandemic. Additionally, various industry verticals, including telecom, information technology (IT), government, and banking, financing, servicing, and insurance (BSFI) industries, use OTT platforms for advertising purposes. Other than this, the bundling, pricing innovation, and availability of premium content have led to an increase in the adoption of subscription-video-on-demand (SVOD) services provided by over-the-top platforms. Besides this, continual technological upgradations have allowed easy streaming and viewing of content on internet-based communication applications and numerous other electronic gadgets, thereby propelling the market growth. Furthermore, the prominence of numerous online OTT platforms with subscription-based narrowed genres, podcasts, series, music films, and television programs represents another major growth0inducing factor. Moreover, strategic collaborations of key players with multi-channel video programming distributors (MVPDs) for offering viewers with live and linear feeds are providing a favorable market outlook.
- The market has been segmented based on the component into solution and services.
- Based on the platform type, the market has been divided into smartphones, smart TV’s, laptops desktops and tablets, gaming consoles, set-top boxes, and others.
- On the basis of the deployment type, the market has been bifurcated into cloud and on-premise.
- Based on the content type, the market has been categorized into voice over IP, text and images, video, and others.
- On the basis of the revenue model, the market has been segmented into subscription, procurement, rental, and others.
- Based on the service type, the market has been segregated into consulting, installation and maintenance, training and support, and managed services.
- On the basis of the vertical, the market has been divided into media and entertainment, education and training, health and fitness, IT and telecom, e-commerce, BSFI, government, and others.
- Region-wise, the market has been classified into North India, West and Central India, South India, and East India.
- The competitive landscape of the market has also been analyzed, along with detailed profiles of the key players operating in the industry.
|Base Year of the Analysis
||Component, Platform Type, Deployment Type, Content Type, Revenue Model, Service Type, Vertical, Region
||North India, West and Central India, South India, East India
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