The Indian population is moving rapidly towards the digital world due to the large-scale penetration of smartphones and the affordability of internet services. With the World Wide Web reaching Tier 2 and Tier 3 cities, it comes as no surprise that regional content and local languages are expected to contribute to the growth of homegrown businesses.
According to a report by Inc42 Plus, the market opportunity for vernacular content in India is pegged at $53 Bn for 2021. It is not just the B2C content platforms which are leveraging the rise of regional content, but also the consumer services companies which are heavily investing to provide support and assistance in several languages.
Given these developments, the need of the hour is to add more content and also develop tools and applications to support more languages.
As businesses tap into the vernacular content market, there will be new challenges as well as new opportunities. In this session of The Dialogue, presented by Inc42 and Microsoft, understand the trends and opportunities emerging in the multilingual market and the strategies to deal with the challenges.
The Dialogue: Breaking The Language Barrier To Reach India’s Next Billion
Moderated by Anand Lunia, the General Partner at India Quotient, the session hosted Sandeep Jayaprasad Alur, director of Microsoft Technology Center at Microsoft India; Lal Chand Bisu, cofounder and CEO of Kuku FM; Aprameya Radhakrishna, cofounder and CEO of Vokal, and Sourabh Gupta, cofounder and CEO of Vernacular.ai.
Key highlights from this edition of The Dialogue:
- The tech landscape in B2C and B2B space and the market size for vernacular content
- The trends and opportunities for tech startups targeting users in local languages
- Automation as a rising trend in a multilingual market and the unit economics of expanding the language catalogue
- How startups can leverage new-age technologies like AI
- The optimal go-to-market strategies and more