One of the world leading TV brands, TCL, launched its iFFALCON brand in India with Flipkart on April 26th, 2018. It attained great sales performance with the iFFALCON 55″ Android TV sold out within 2 minutes. In addition to bringing Android TVs to the Indian market, iFFALCON will also offer a full suite of embedded Google services as well as continue to deliver smart and large screen products to the market.
On May 25th, FFALCON Technology has published a report titled “Observations and Insights of the OTT Video Market in India” which conducts a detailed analysis of the OTT Video Market in India from different aspects. The report provides insights on the development path for the Indian OTT video market and greater opportunities for Indian OTT video players to work with a broader range of OTT devices not only including smart phones but also smart TVs and other streaming devices.
According to the report, the global market size of OTT TV and video reached 46.5 billion U.S. dollars in 2017 and is expected to reach 83.4 billion U.S. dollars by 2022. Subscription Video on Demand (SVoD) dominates with 50% market share. Meanwhile, the top 5 countries in the global OTT TV & Video revenue rankings are the USA, China, Japan, UK and Germany.
From 2016 through 2020, 61% of India’s population will be under the age of 35, per EY’s Re-imaging India M&E Sector. It is predicted that these young people will be a more digitalized generation of consumers in India’s history and more receptive to new consumption trends such as paying for OTT vide streaming with digital payments and using smart TVs etc.
At present, 86% of Indian households still use CRT TVs and only 3.4% of households own multiple TVs. Given to this there are huge potentials for growth of OTT device makers and OTT operators in India.
FFALCON Technology is convinced that OTT device makers should establish strategic partnerships with the key global and local OTT video players in India. At the current stage, the Indian OTT video market still heavily depends on advertisement revenue. The OTT device makers should be more focusing on device performance and user experience to attract more users, cultivate users’ habits of consuming streaming videos and digital payments and then seek a practical and sustainable business model with OTT partners in the smart TV content eco-system.