08 Oct Growing Trends in the Video Production Industry of India.
In this digital era, India’s dynamic video production industry is skyrocketing, fueled by a surge in digital content and technological innovations.
Be it the streaming giants or independent creators, in 2023 India’s video production market size rounded up to 2.5 billion USD. Upon further assessment, it was forecasted that the Indian market had been envisioned to reach a minimum of 4.4 US billion dollars with a compound annual growth rate(CAGR) of 12%.
Let us have an overview of the video production industry and understand the growing trends and their significant impact on the global stage!
Comparison with the global video production market
To understand the market trends of video production in India it is essential to understand the global market. Doing so gives us an idea of what both the markets have to offer and their unique characteristics.
| FACTORS | INDIAN MARKET | GLOBAL MARKET |
| Market size and growth | The Indian market size is about 2.5 USD billion, with a projected growth of 12% in the coming four years | Whereas the global market size is at USD 245 billion and is expected to grow up to 312 billion by 2027 |
| Technological advancement | With technologies such as 4K and 8K video production alongside VR and AR, the Indian market’s quality of content and creation has improved a lot. | While the Indian market has adapted to the technologies, the global market has kept its aim rigid at high-resolution video production and immersive experiences. |
| Distribution channels | In India, the distribution channel of videos depends on digital distribution alongside the traditional distribution channels. | In contrast, the global market has diverse distribution channels beginning from TV, cinema, streaming services, and online platforms. |
Video production content types: Viewer preference and patterns
In the growing market trend, there are typically two forms of content that rule the market- one short form ranging under 10 minutes and long-form content above 10 minutes. While the audience’s preference varies from interactive and user-generated content with genres ranging from drama and comedy, and reality shows to educational videos; lately, short-form videos have been the choice amongst many.
The bite-size videos are more focused with a more personalized and immersive engagement. Knowing the watching patterns of the viewer makes the market grow and stay ahead in the competitive digital landscape.
Challenges and opportunities
Behind this growth of video production in India, a rough patch is hidden. Here are the challenges and the opportunities faced:
CHALLENGES
- Content overload
- Monetization
- Technological advancement
- Copyright and legal issues
- Audience fragmentation
OPPORTUNITIES
- Global reach
- Data Analytics
- Interactive content
- Brand Partnership
- Niche content
- Diverse revenue streams
Through this journey, we have seen that a strong community around content and video production helps the audience remain loyal hence contributing to the growth of the video production market in India.
Conclusion
In conclusion, the video production market in India is beyond just growth rather it is leading towards a revolution in the creation and consumption world. With a diverse and dynamic landscape, fueled by technological advancements and evolving viewer preferences, the industry is ripe with opportunities for creators and marketers.
Upon embracing the positive growth, the video production industry in India continues to thrive worldwide.
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