Digital Content Market in India 2023-2028

The digital content market involves companies that use technology to produce/ publish/ stream content over the internet including digital videos, online streaming music, e-books, and online games. The content comprises information that is stored and digitally broadcasted, streamed, or contained over a computer or online cloud to be shared or downloaded and is viewed on smartphones, computers, tablets, smart TV, and STB and analog TV.

The market based on product type is segmented into digital audio content, digital text content, digital games, and digital video content.

Market insights:

The growth in digital content consumption has been high since the COVID-19 pandemic. The restriction on movement and outdoor entertainment increased both the audience and producers of digital content. In 2023, sectors such as education, retail, media, and entertainment are witnessing high consumption of digital content. The implementation of Internet of Things (IoT) analytics has further pushed the access of relevant content to highly targeted consumers.

The increasing presence of digital content over social media platforms in the form of blogs along with the increasing proliferation of internet services and low data tariff rates supports the future growth aspects in the market. The years 2022, and 2023 also witnessed the rise of rural and regional content creators in the country who were able to monetize by displaying their content over social media platforms in the form of DIY videos, blogs, YouTube reels.

Market segment:

The market for digital video content accounted for ~45.94% of the revenue of the total digital content market in FY 2023.During the FY 2023 - FY 2028 period, digital video and gaming content is expected to witness growth in their overall market share while digital text content and digital audio content will experience a marginal loss in their share from the overall digital content market owing to the evolving user preferences towards more immersive and dynamic forms of digital media.

Market drivers:

The rise in the number of internet users owing to India’s expanding digital infrastructure, affordability of smart devices, and government initiatives such as"Digital India" and"BharatNet." has made India one of the fastest-growing digital consumer market in the world.

Key market trends:

User-generated content is unique, brand-specific material produced by consumers and shared on social media or through other platforms in the form of pictures, films, reviews, a recommendation, or even a podcast. This type of content is used at every stage of the buying process to boost ROI and influence engagement. Microsoft and Google offer software and solution packages tailored for emerging content creators, streamlining the process of content creation and publication. Podcasting is also gaining significant traction, particularly among millennials and Gen Z, indicating a shift in content consumption preferences.