BEIJING--(BUSINESS WIRE)--One of the world's 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 selling out within 2 minutes. In addition to bringing Android TVs to the Indian market, iFFALCON will 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 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 smartphones 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 and video revenue rankings are the USA, China, Japan, UK and Germany.
From 2016 to 2020, 61% of India’s population will be under the age of 35 according to Ernst & Young’s Re-imaging India M&E Sector Report. It is predicted that these young people will be the most digitalized generation of consumers in India’s history and more receptive to new consumption trends such as using digital payments for OTT video streaming and using smart TVs.
At present, 86% of Indian households still use CRT TVs and only 3.4% of households own multiple TVs. This indicates huge growth potential for OTT in India.
FFALCON Technology advocates that OTT device makers should establish strategic partnerships with key global and local OTT video players in India. Currently the Indian OTT video market is heavily dependent on advertisement revenue. As such, OTT device makers should first focus on device performance and user experience to attract more users, looking to cultivate users’ habits of consuming streamed videos and digital payments; following which they can seek a practical and sustainable business model with OTT partners in the smart TV content eco-system.