As per the recent survey reports, the popularity of video streaming services in India vanquishes the usage of traditional TV, especially the satellite & cable TV connections. With this, India becomes the third country with 52% of customers preferring streaming Video-on-Demand services, after China and Brazil.
Despite only 40% of internet connectivity, the Indian video streaming market has exploded with 65% of video consumptions in the past three years. As the digital service providers are bombarding original content via online streaming, there is a serious threatening to the existence of traditional TV with a set-top box.
With more than 32 video streaming platforms operating in the country, it is predicted that the OTT market will hit $5 billion by 2023 for sure.