Indian SFV Market To Reach $8-12 Billion By 2030: Report The report also highlighted that virtual gifting on short-form video platforms in India is expected to become $1.7 billion by 2030
By Teena Jose
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According to a latest report by Redseer Strategy Consultants, it is stated that Indian short-form video (SFV) market monetization could be a $8-$12 billion opportunity by 2030.
Indian apps now compare well with global short-form apps and have a lead on content depth in three of the five top content genres, with significant differences in offerings around music/dance and dialogue/acting content, stated the Redseer Strategy Consultants reported by IANS. It further projected the marketing spend on influencers to be worth $2.8-3.5 billion in 2028, from the current level of $0.35-0.4 billion.
Short-form content, which typically ranges from 15 seconds to 5 minutes, has become increasingly popular among viewers. According to a report by Statista, millennials and Gen Z-ers prefer to watch short-form content. This is likely due to the fact that younger viewers have grown up with technology and social media and are accustomed to consuming content in bite-sized chunks.
Globally, Redseer has seen that short-form video platforms and e-commerce platforms have been increasingly focusing on video commerce to enhance customer engagement and boost sales. In India, video commerce has just started, with short-form video platforms expected to capture ~40 per cent of the $8-11 billion video commerce market in 2030.
"Indian SFV apps have seen constant growth in adoption and engagement. Leading players have come close to global players in terms of scale while having similar engagement levels. The report highlighted that with a large and growing population of smartphone users, SFV apps have already gained significant popularity in India. The content library for Indian SFVs is in line with India's needs – linguistically and culturally diverse," the report noted.
Furthermore, the report also highlighted that virtual gifting on short-form video platforms in India is expected to become $1.7 billion by 2030.
