The recent ongoing scuffle between India and China has been rising at both the border and the main-land. Both the countries have been ahead in creating problems for each other as such India has banned most of the Chinese apps in its Indian market. Considering the popularity of these apps, it is without a doubt that most of the apps are irreplaceable in the market.
According to a recent report, Homegrown short-video making apps led by Josh has captured 40 percent market share of their Chinese rival TikTok since the Indian government banned it along with other apps in June this year.
TikTok is undoubtedly the most famous Chinese developer in the Indian market, well at least it was. It had nearly 85 million users in India in June 2018, and it reached over 167 million users by June 2020. In the efforts of enabling policies including more quantum of the spectrum, India’s telecom sector is set to establish new benchmarks in the next-generation network deployments and service delivery.
After the ban of TikTok, there was a potential void left in the market. Indian content players like Dailyhunt owns Josh, launched apps like MX TakaTak, Roposo, Chingari, Moj Mitron, Trell, and others to fill the vast void.
According to Bengaluru-based market consulting firm RedSeer, the Indian platforms have captured a 40 percent market share of TikTok. Josh leads the race equality of content, extensive content library, and, decoding preferences to deliver the right content.
“New short-form players have been able to offer users a holistic experience to users with quality content creators getting onboarded,” said Anil Kumar, Founder, and CEO, RedSeer.
“As Indian players innovate to offer fresh quality content every day, short-form engagement is expected to resurge back to January and grow more than four times in the next five years.
“However, the questions remain on the monetization front for the players and potential change in dynamics if the ban on TikTok is lifted.”