June 22, 2024
India Creator Economy Market
Ict

India Creator Economy Market Is Estimated To Witness High Growth Owing To Rising Digital Literacy

The India creator economy market is gaining significant traction over the past few years with the increasing digital literacy and smartphone penetration in the country. Creators are leveraging digital platforms to build a livelihood through content creation relating to various skills and hobbies like storytelling, programming, crafting, painting, singing etc. and monetizing them through sponsorships, advertisements and direct audiences payments. The market comprises of content creation platforms that allow users to create and publish original content as well as applications that connect creators to audiences and brands.

The Global India Creator Economy Market Size Is Estimated To Be Valued At US$ 976.0 Mn In 2024 And Is Expected To Exhibit A CAGR Of 22% Over The Forecast Period 2024-2031.

Key Takeaways

Key players operating in the India creator economy are Yourquote, Pratilipi, Khabri, Kalakaar, Vernacular.Ai, Vokal, Ultra Media & Entertainment, Pocket FM, Krazybee, Kreateurs, Social Swag, Qoruz, Vyapaar App, Kutumb, Blusmart Mobility, Beatoven.Ai, Simsim, Dunzo. The evolving digital payment landscape and emergence of innovative business models are offering new monetization opportunities for creators. The increasing internet and smartphone penetration along with availability of low-cost high-speed data plans is expected to fuel the growth of digital content creation and monetization in small cities and towns of India.

Major technology companies are focusing on expanding their creator programs in India to tap into the burgeoning opportunities. Investments and partnerships between international and domestic players will help in scaling up the India creator economy market.

Market Drivers

One of the key drivers for the growth of India creator economy is rising digital literacy in the country. With access to affordable smartphones and internet, more people in India now have the skills and means to become digital content creators and leverage various platforms. The COVID-19 pandemic further accelerated India’s digital transformation, boosting the consumption of online content as well as opportunities for online content creators in India.

Pest Analysis

Political: The Government of India has taken several initiatives to encourage startups in the creator economy such as easing regulations around working from home and launching digital skilling programs which has positively impacted growth.

Economic: India has a large population of young citizens coming online which represents a significant opportunity for monetization through the creator economy. Rising internet and smartphone penetration coupled with affordable data plans are driving demand.

Social: Increasing popularity of social media platforms and video sharing apps have made content creation mainstream. Young citizens are actively participating, influencing trends and finding alternate career paths as social media influencers or content creators.

Technological: Advanced technologies around AI, augmented reality, virtual reality are empowering content creators to produce high-quality, engaging content across multiple formats more efficiently. Live streaming, interactive apps and personalized recommendation engines are enhancing user experience.

The India creator economy market in terms of value is concentrated majorly in metro cities of Delhi, Mumbai, Bengaluru, Hyderabad and Pune owing to higher internet and smartphone penetration as well as availability of young aspiring content creators. Tier I and tier II cities are emerging strongly backed by increasing digital access in semi-urban and rural regions.

The southern region of India encompassing Telangana, Andhra Pradesh, Tamil Nadu, Kerala is witnessing the fastest growth in the creator economy market driven by widespread accessibility of low-cost internet, highly engaged internet users and proactive government initiatives to promote digitalization and entrepreneurship. Vernacular language content is thriving in this market leading to employment opportunities for local creators.

What are the key data covered in this India Creator Economy Market report?

:- Market CAGR throughout the predicted period

:- Comprehensive information on the aspects that will drive the India Creator Economy Market’s growth between 2024 and 2031.

:- Accurate calculation of the size of the India Creator Economy  Market and its contribution to the market, with emphasis on the parent market

:- Realistic forecasts of future trends and changes in consumer behavior

:- India Creator Economy  Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa

:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors

:- Detailed examination of the factors that will impede the expansion of India Creator Economy  Market vendors

FAQ’s

Q.1 What are the main factors influencing the India Creator Economy market?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top India Creator Economy Market companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the India Creator Economy market’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?

*Note:

  1. Source: CoherentMI, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it