The video market in India has surged to a value of $13 billion, positioning the country as the third-largest player in the Asia-Pacific region, trailing behind China and Japan. The data is sourced from a report by Media-Telecom Partners, an Asian research firm that has exited the global market. India’s rapid growth has propelled it to become the fastest-growing video market globally.
Media-Telecom Partners conducted a comprehensive analysis encompassing user engagement, viewership, consumers, advertising revenue, and profits across various segments, including social videos, premium advertising, video-on-demand subscriptions, pay TV, and free TV. According to their findings, India’s video market is projected to generate revenue of $17 billion by 2028.
Globally, the video market has witnessed a 2.6% overall growth and is anticipated to achieve a total revenue of $165 billion from 2023 to 2028. The Asia-Pacific region is expected to be a significant contributor to this growth, with a projected increase of 5.5% in the video market.
Further analysis reveals notable growth projections for the Asia-Pacific video industry. Indonesia is forecasted to lead with an estimated growth rate of 7.3 percent, followed by the Philippines at 6.2 percent, Vietnam at 4.6 percent, and Thailand at 4.2 percent. China, as a mature market, is expected to experience more moderate growth at 1.7 percent, reaching a market size of $70 billion by 2028. Japan, Korea, Australia, and Indonesia are also expected to contribute substantially to this growth.
The APAC online video sector is predicted to record a 6.7 percent compound annual growth rate (CAGR), reaching $78.5 billion by 2028. However, TV industry revenues, including advertising and subscription, are expected to contract marginally at a 0.4 percent CAGR between 2023 and 2028, reaching $86.5 billion. While TV markets in India, Japan, Korea, and Indonesia are expected to grow, there are significant downside risks on TV advertising in Indonesia, India, and Korea.
These figures underscore the booming success of India’s video market, driven by various segments, including social videos and premium advertising. The anticipated growth in the coming years solidifies India’s increasing influence in the global video market.
