Increasing Internet and Smartphone penetration, improving digital literacy, reduced internet charges and covid-19 pandemic have collectively influenced the demand of Vernacular users in the country. Players in Vernacular industry are providing multiple services in multilingual format aiming to cater the content demand from different parts of the country.
Multiple services are provided along with news and content such as jobs, matrimony, fantasy games among others. Establishment of Koo, an Indian language microblogging platform, marked as a major break in the industry, where they are competing with Twitter and might surpass their user base by 2023. The companies are however facing technology barriers with restrictions in website fonts, limited database access to build AI and ML, and Indic language chat-bot assistance.
Government program of training and assisting vernacular companies through their Vernacular Innovation Program to bridge the language barrier in the country.
Ministry of Electronics and Information Technology is working to build instant language translator in the country and the development of computer operating system ‘Bharat Operating System Solution(BOSS)’ by C-DAC in 19 Indian languages to increase the computer penetration in the country are boosting the vernacular space in the country. The new National Education Policy 2020 also focuses on multilingualism and mother tongue as the medium of instruction. Government is investing INR 1.13 Lakh Cr to provide government facilities in local Indian languages.
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Several major investors such as Y Combinator, Temasek Holdings, Krafton, Westbridge Capital investing in the vernacular content platforms and multiple acquisitions in the Industry by DailyHunt, ShareChat, Koo and others. Tier 3 and Tier 4 cities audience are the major target by vernacular players due to their preference of consuming content in regional language, and unavailability of content sharing platform for these users. Ancillary services are provided on the news platform to generate revenue from multiple fronts such as matrimony features, job search, and fantasy gaming is provided on a subscription basis from the users. Content platforms are charging from the users through freemium model, by giving premium access to paid users.
The report titled “India Vernacular News and Content Market Outlook to 2025: Driven by adoption of high rural smartphone and internet penetration, shifting consumer preference towards local language and content creation” by Ken Research suggested that the Vernacular News and Content platform market is expected to grow significantly owing to increasing internet and smartphone penetration in rural part of the country assisted with the government support. The government can establish a logistics manpower framework, establish a skills council for logistics; pricing at sea ports to attract FDI, revise regulations around customs licensing, promoting bonded logistics & strengthening trade relations with other countries. Covid-19 drive the growth of Vernacular Industry with the increasing in screen time of users and data consumption, especially in rural India with majority of migrant laborers went back to their native places.
Key Segments Covered in Indian Vernacular Industry: –
Indian Vernacular Market
By Business Model
Aggregator
Integrator
User Based
By Region of Operation
North
West
South
East
By Language
Hindi
English
Tamil
Telugu
Malayalam
Kannada and Others
By Content
Video
Written
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By Operation model
Free users
Paid users
Key Target Audience
Vernacular News players
Vernacular social media players
Vernacular written content players
Digital Advertiser
Vernacular Technology provider
Vernacular users
New Entrant in Vernacular space
Associated or affiliated Banks with Vernacular entities
Regulatory Bodies for Vernacular entities
Time Period Captured in the Report: –
Historical Period: FY’2017-FY’2022
Forecast Period: FY’2022-FY’2027F
Companies Covered:
Vernacular News Platforms
Dailyhunt
One India
News Point
Headline Network
Way2News
Lokal
PaperBoy
Vernacular Social Media and Content
ShareChat
Koo
Vokal
Pratilipi
Key Topics Covered in the Report
Overview of India Vernacular Industry
Vernacular India Market Overview
Vernacular India Market Sizing and Segmentation
Vernacular Industry Analysis
End User Analysis in Vernacular Players
Future sizing and outlook for Vernacular Industry
Competitive analysis of Indian Vernacular Industry Players
Value Chain Analysis of Vernacular players
Vernacular Industry Addressable market
Recommendations / Success Factors
Research Methodology
For more insights on the market intelligence, refer to the link below: –