Global Over The Top (OTT) Services Market is valued at USD 80.68 Billion in 2019 and expected to reach USD 204.38 Billion by 2027 with a CAGR of 14.2% over the forecast period.
Global Over The Top (OTT) Services Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027- Increased demand of online gaming, and cost effective than competitor and growing advancements in in OTT technology are some of the major factors driving the growth of the Global Over The Top (OTT) services Market.
An over the top media is a service media platform in which include the services directly to viewers via the internet. The OTT is a platform for film, gaming and television content in which it provides a high speed internet connection instead of a satellite or cable provider based platform. The OTT platform has added the video, podcast, music and audio streaming categories. The OTT also offers access to live streams of linear specialty channels, similar to the traditional satellite or cable TV, but it is streamed over the public internet rather than a private network with proprietary equipment such as set-0top boxes. The OTT services are accessed through websites on personal computers as well as through apps on mobile devices, digital media players or televisions with integrated smart TV platform.
After outburst of Covid-19, the over-the-top (OTT) platform saw a high growth, and it became one of the major sources of entertainment for viewers and subscribers. There are many OTT platforms which are available on internet such as; Disney+ Hotstar, Netflix, Eros Now, BigFlix, Hooq, Hungama Play, Arre and some 30-odd platforms which have mushroomed and are being watched by majority households worldwide.
Global Over The Top (OTT) services Market report is segmented on the basis of component, device type, content type, revenue model, user type, end user and region & country level. Based upon component, the market is classified solution and services. Based upon device type, the market is divided into smartphones, smart TVs, laptops, desktops, and tablets, gaming consoles, set-top box and others. Based upon content type, Global Over The Top (OTT) services Market is divided into video, audio/VoIP, games, communication and others. Based upon revenue model, Global Over The Top (OTT) services Market is divided into subscription, advertisement, hybrid and others. Based upon user type, the market is divided into personal and commercial. Based upon end user, Global Over The Top (OTT) services Market is divided into media & entertainment, education & training, health & fitness, IT & telecom, E-commerce, BFSI, government and others.
Some of the key players for Global Over The Top (OTT) services Market are Amazon.com, Inc., Google LLC, Roku, Inc., Facebook, Inc., Vudu, Inc., Microsoft Corporation, Kakao Corp., Netflex, Inc., Apple, Inc., Hulu, LLC, Telstra Corporation Ltd., and others.
By Component:
By Device Type:
By Content Type:
By Revenue Model:
By User Type:
By End-User:
The regions covered in Global Over The Top (OTT) services Market report are North America, Europe, Asia-Pacific, Latin America and Rest of the World. On the basis of country level, the market of Global Over The Top (OTT) services is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, India, Japan, South East Asia, Middle East Asia (Saudi Arabia, UAE, Egypt) GCC, Africa, etc.
On February 19th, 2021; Technopark, Thiruvananthapuram-based Toonz Media Group, an entertainment company specializing in animation content production, has launched an over-the-top (OTT) platform for children and family entertainment called MyToonz. Toonz has tied up with several app stores, telecom firms, OTTs, and connected TV companies around the world to make MyToonz available for consumers across platforms.
A mobile channel is becoming a commonly accepted video delivery platform, by outdistancing the traditional TV as the leading channel for production. The mobile is rapidly developing to become the popular service distribution channel for growth of service media platform. In addition, OTT apps with innovative pricing models, along with the sheer convenience, have made OTT platforms popular. Furthermore, the rapidly increasing popularity of animated videos, drama series and video games on gaming platforms are also significantly fostering the growth of the global over-the-top content market. However, latency issues and lack of data network infrastructure are hamper the market growth. In spite of that, mergers with national producers and film studios across regions for the SVOD model, the advancements in technologies, and untapped potential in emerging markets may offer favorable growth opportunities for the further growth of the global over the top (OTT) services market.
North America is expected to dominate the global OTT services market due to the increasing broadband access as well as high availability of large number of OTT services in this region. Additionally, new services such as ESPN, Turner Sports, AT&T, and Crown Family Media Networks experienced strong traction in the U.S., which increases the growth of the market. In the United States, there are more than 64 million homes are habitual to OTT platform with an average home viewing value is estimated at 86 hours of OTT content per month. Asia-Pacific is expected to witness a fastest growth with the highest CAGR as telecommunication companies offer OTT services with their data plans, which leads to fuels the over-the-top market growth in this region. In addition, increasing usage of mobile devices and government policies regarding regulating the content on video streaming platforms are authorized the exponential rise of adoption of OTT services in Asia Pacific region.
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Report Analysis | Details |
---|---|
Historical data | 2015 - 2020 |
Forecast Period | 2021 - 2027 |
Market Size in 2020: | USD 80.68 Billion |
Base year considered | 2020 |
Forecast Period CAGR %: |
14.2% |
Market Size Expected in 2027: | USD 204.38 Billion |
Tables, Charts & Figures: | 175 |
Pages | 200 |
Key Players/Companies | Amazon.com, Inc., Google LLC, Roku, Inc., Facebook, Inc., Vudu, Inc., Microsoft Corporation, Kakao Corp., Netflex, Inc., Apple, Inc., Hulu, LLC, Telstra Corporation Ltd., and others. |
Segments Covered | By Component, By Device Type, By Content Type, By Revenue Model, By User Type, By End-User |
Regional Analysis | North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa |
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