According to a July report by PwC, India’s video streaming industry is expected to

grow at a CAGR of 21.82% and reach Rs.11,977 crore by 2023. The global video
streaming market is expected to reach $124.57 billion by 2025 and expand at a CAGR
of 19.6%, according to an April study by Reportbuyer.

However, to sustain and grow its user base, Apple will have to invest heavily in the
content and that is where it faces the real test.
Online video streaming services market is largely dominated by Netflix which boasts
151 million paid subscribers in Q2 2019, however with Disney video streaming
service launching at $6.99 a month on November 12, Apple TV+ will have to contend
with a competitor that owns Marvel Universe and an enormous library of popular
Disney movies. According to reports Disney+ will launch with 400-500 movies.
Netflix has a lot more content to offer and according to Unogs.com, its India library
includes around 3,700 movies and 1,800 series.
Netflix's India services start at ₹199.
Apple also faces strong competition from Amazon's Prime Video service, which
though bundled with prime subscription, has over 75 million users and vast library of
regional language and Original content.
After the announcement of Apple TV+, Netflix shares reportedly dropped 3% and
Disney's stock prices fell over 2%. Apple with its deep pockets has the resources to
produce more original content and take on rivals. Despite being a late entrant into the
segment, Apple TV+ can be a major video streaming platform in the coming days.