India is poised to be the third-largest TV advertising market by 2024. According to the FICCI-EY report, there would be 40 million addressable TV homes in India by 2025. Connected TV ownership in India has skyrocketed.
In India, digital video has skyrocketed exponentially in the new stay-at-home paradigm. Streaming services such as Netflix, Prime, and Disney went from niche to mainstream. Video entrenched deeply on social platforms such as YouTube, Facebook, Instagram, and Tiktok. According to the eMarketer, in many countries, digital video has overtaken broadcast TV.
With supply proximity, faster broadband and affordable TV hardware, mobile-first Indian consumers are rapidly adopting connected TVs. Market leader Xiaomi leads with 14.3% and Samsung, the global leader, is placed second in India at 13.1%, followed by LG with 8%, OnePlus with 7% and Sony at 5%.
Southeast Asia is charging ahead at full steam, having added 60M new digital consumers to the internet economy since the pandemic started. The top 20 online video platforms will account for two-thirds of total APAC online video revenues in 2022.
The streaming industry is projected to reach $5 billion by 2023, and it's predicted that India will become one of the top five global CTV markets worth an estimated value of $823 million by EOY 2022.
While CTV viewing has increased by 81% globally, adoption in India is still in its infancy, but did grow by an impressive 31% in 2021. India is still largely an untapped market with enormous opportunities. By 2025 there will be 80 million connected TV households.
With supply proximity, faster broadband and affordable TV hardware, mobile-first Indian consumers are rapidly shifting towards connected TV.
