Wednesday, October 4, 2023

Email id: support@kenresearch.com, Contact Us : +91-9871552944

Home Media And Entertainment Advertising 3 gears that have enabled the Vernacular market in India to reach...

3 gears that have enabled the Vernacular market in India to reach more than INR 3500 Cr in FY’22: Ken Research

3 gears that have enabled the Vernacular market in India to reach more than INR 3500 Cr in FY’22: Ken Research

Due to rapid digitalization in the country, more and more people have started consuming regional content online which has enabled the vernacular news and content industry to grow with ~60% CAGR during the years 2017 and 2022. The market has a huge potential to continue its growth with double-digit CAGR in the coming years as well owing to the increase in monetization efforts, and the entry of new players.

1. With over 50 Crore smartphone penetration and tremendously increasing internet users, India shows a high potential for the vernacular market to expand in the country

Click to Read Full Article: India Vernacular News and content market

India is the most populated country with over 80 Crore internet users and 50 Crore smartphone penetration in the nation. This rapid digitization gave a big push to the regional content market in India because the majority of internet users are from lower-tier cities as compared to metro-city users and these users prefer reading, listening to, or watching content in their local language. YouTube even stated that 95% of its users opt for regional language videos.

2. Presently, English is used by less than 1% of the population as their primary language, explaining the growing demand for the vernacular market in India

To learn more about this report Download a Free Sample Report

9 out of every 10 new internet user is likely to be non-English user in India. English is used by less than 1% of the population as their primary language and less than 10% as a second or third language, explaining the huge opportunity for the vernacular content market to tap the country. Presently, Marathi, Tamil and Kannada have the highest proportion of users preferring their native language over English or Hindi for online content consumption. This has additionally given an edge to the vernacular market to flourish in India with double-digit growth.

3. The government is also playing a key role in building the vernacular ecosystem in the country and assisting entrepreneurs to boost the vernacular market growth

Visit this Link: – Request for custom report

To empower innovators and entrepreneurs across the country, Atal Innovation Mission (AIM), NITI Aayog has announced the Vernacular Innovation Program (VIP), which will help innovators and entrepreneurs in India to have access to the innovation ecosystem in 22 scheduled languages by the Government of India. To build the necessary capacity for the VIP, AIM has identified and will be training a Vernacular Task Force (VTF) in each of the 22 scheduled languages. Each task force comprises vernacular language teachers, subject experts, technical writers, and the leadership of regional Atal Incubation Centers (AICs). This is done in order to break the language barrier and help the vernacular industry to continue booming in the country.

RELATED ARTICLES

US LI-ION Battery Market is Expected to reach ~USD 40 Bn by 2028: Ken Research

United States is facing a huge demand of Lithium batteries due to growing electrification in west with growing at the rate of 25.36% by...

Can the US Online Sports Betting Market reach a CAGR of 12% by 2028? : Ken Research

Buy Now With multiple sports betting organizations competing and flowing up with fund raisers and trustworthy partnership and with the leading betting sports being ‘The...

3 Key Customer Insights Before Entering a New Market: Ken Research

Building a business is definitely not a cakewalk, but expanding it is a next-level task. But this doesn’t mean it is only full of...

Most Popular

Triển vọng thị trường kho bãi Việt Nam đến năm 2022 – theo mô hình kinh doanh và theo người dùng cuối điện tử,...

MUA NGAY Thị trường kho bãi Việt Nam được định vị như thế nào? Các kho hàng hoạt động tại Việt Nam chỉ đơn giản là...

SABIC, Ma’aden, Zamil Steel, Tasnee Lead Middle East Metal Working: Ken Research

Buy Now These companies are playing a crucial role in uplifting the trade & manufacturing within the region, keeping sustainable practices in mind In the dynamic...

Why UAE’s Debt Collection Industry is poised for growth despite the many challenges it faces in a competitive market? : Ken Research

Buy Now In this enlightening whitepaper, we delve into the intricacies of the UAE's debt collection industry, which has witnessed a formidable surge in growth...

US LI-ION Battery Market is Expected to reach ~USD 40 Bn by 2028: Ken Research

United States is facing a huge demand of Lithium batteries due to growing electrification in west with growing at the rate of 25.36% by...