EY Digital Consumer Survey reveals that 90% of consumers are connecting more to the virtual world.
At 11GB per user per month and a 30% spike in usage amid the COVID-19 crisis, Indians continue to raise the bar on data consumption. Such unprecedented increase, which was earlier expected over the next two or three years is reaffirming that virtual is the new real.
This radical shift in consumption are here to stay. The new normal rides on increased optimism towards a more digital way of life. EY’s Digital Consumer Survey: Shaping the new normal analyses views of 2,600+ consumers to highlight the changing behaviour and perception toward digital services.
High-speed broadband to be the pulse of virtual world
The survey reveals that nearly 33% respondents upgraded broadband plans for higher data packages. Interestingly, unlimited plans accounted for 40% of total upgrades, underlining the growing confidence to ‘do more’ digitally.
Many ‘basic users’– who were consuming data only for thin web-browsing, chatting and calling are migrating to ‘high users’ bucket. Nearly 11% of basic data users upgraded existing packs to either unlimited or 50%-100% higher data to do more of content streaming, gaming, and video calling.
With remote working, it has increasingly becoming commonplace to adopt video conferencing and productivity tools. As many as 76% respondents are either first timers or have increased their time spent on video calling, per the survey.
The demand for high-speed broadband by increasing remote working population will only spiral to support use of data-intensive tools. As work from home or remote working becomes a reality, the need for stable, high speed internet has become even more critical.
Evolving content consumption habits likely to be everlasting
The survey highlights that 90% respondents are spending more time on digital activities such as content streaming, e-learning, infotainment and social media. The digital makeover in content consumption is underway - evolving in new dimensions as expectations of digital consumer are being driven by intuitive and convenient experiences.
Nearly 61% consumers are streaming more content compared to pre-lockdown. Market realties corroborate with survey findings. Time spent on video streaming has surged 1.2x to average 4.2 hours per user per week.
On-demand is in demand. 60% respondents prefer subscription-based video on demand, while 20% prefer TV entertainment. Nearly 50% of respondents who prefer TV, are spending more time watching movies, shows and news telecast.
While technology is empowering digital consumer with more choices, relevance of content is paramount. Internet streaming is turning into a competitive medium for content delivery and advertisements exhibits growing potential. Digital ad-spends are likely to exceed over $8.0b by 2025, at a CAGR of 27% between 2019-2025, emerging as a medium with massive headroom for growth.
Online education gaining steam to empower a quarter of India’s population
The integration of digital with education is giving a new dimension to the standard of education. The crisis led to emergence of a new breed of digital learners who are adopting technology faster than ever. The flexibility to learn, access to content, virtual classrooms and use of digital tools are reshaping traditional ways of delivering education.
According to the survey findings, e-learning has emerged as the third most-performed digital activity in the past weeks. Nearly 59% respondents are learning online. The preference for learning on digital platforms is here to stay. Nearly 50% respondents prefer learning on edtech platforms over accessing learning material scattered on web portals.
The move toward digital learning is set to have a positive impact on the lives of 320 million students. The integration of technology into the classroom experience has the potential to bring unprecedented benefits. With that, scaling network connectivity and access to technologies in far flung rural hinterlands is an opportunity to drive radical socio-economic gains. In times to come, personalized, automated learning services to deliver tailored individual learning take precedence. Digital education holds paramount importance to scale, engage and build next-gen skills in a virtual world. The online education market is racing head, expanding at a CAGR of 43.8% from 2019 to reach US$4.8b by 2024.