OTT Providers In India, USA
APAC Online Video Market To Scale To US$73 Billion By 2027
The online video market is growing at a great pace and data also shows the same. The industry is in the second phase of growth with revenue of $3 billion this year. The revenue is going to be more than double the present one. As per the reports by Media Partners Asia, the revenue of the video streaming market in India is going to be around $7 billion by 2027. With the rapid growth of the streaming industry, there is continuous growth seen in the competition in the industry. The intensity of the competition is increasing with the development of the local streaming players and the giants of the industry.
According to the report by Asia Pacific Online Video & Broadband Distribution 2022, the total growth of the online streaming industry is expected to grow by 16% year-on-year in 2022 to go up to US$49.2 billion.
Different monetization models will contribute differently to the growth of the streaming industry. Talking separately, SVoD will contribute 50% of the growth while the other 50% will be contributed by AVoD (including UGC AVoD 37% and Premium AVoD 13%). The industry is expected to grow at an 8% CAGR and will reach around US$72.7 billion in 2027. All this development will happen while having the SVoD:AVoD ratio stable. The top 20 online video players will account for around 67% of the total APAC revenue in 2022. In India, regional players are gearing up the competition and trying to capture a good market share. With time, it will be interesting to see the growth of the industry and the local player.