Global OTT (Over the Top) Market Size, Share & Trends, COVID-19 Impact Analysis Report, By Component (Software, and Service), By Revenue Model (Subscription, Advertisement, Hybrid, and Others), By Deployment (On-Premise, and Cloud-based), By Content Type (Video, Audio, Games, Communication, and Others), By Vertical (Media & Entertainment, Education & Training, Health & Fitness, IT & Telecommunications, E-commerce, Government, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2030Industry: Electronics, ICT & Media
OTT (OVER THE TOP) MARKET: OVERVIEW
The Global OTT (Over the Top) Market Size is expected to be worth USD 48.34 Billion in 2021 and is estimated to reach up to USD 189.47 Billion by 2030, at a compound annual growth rate (CAGR) of 16.50% from 2022 to 2030. Over-the-top services are used to describe movies and TV shows that are directly delivered to digital viewers without the requirement for a cable or satellite television subscription. Anytime they want, users can directly download and stream OTT content. Movies and TV shows fall under this category of content, which is delivered directly over the internet to connected PCs, tablets, smartphones, and consoles. Over-the-top services are still in their infancy but are now recognized as a popular technology on a global scale. It is projected that the over-the-top market would experience innovative and sophisticated transformation that will enable people to get everything in one spot.
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The COVID-19 outbreak has had a favorable impact on the global media and entertainment industry. The COVID-19 outbreak has a positive impact on the growth of the global OTT market because of the constantly rising demand for OTT services. This demand is mostly attributable to the continued expansion of online communications services because of the lockdown that was implemented and the rise in viewers communicating via various online platforms. Additionally, consumption of online entertainment platforms is positively driving the market's growth in developing nations like China and India.
OTT (OVER THE TOP) MARKET: TREND
Increasing Accessibility to the High-Speed Internet Connectivity
High-speed internet adoption is projected to increase, which would help the global OTT market thrive. Additionally, it is projected that increasing internet-based Vertical usage will foster market expansion. The OTT sector is one element driving up demand for subscription-based services. During the anticipated years, the rising use of subscription-based services in emerging nations will probably boost the growth of the OTT market.
Global OTT (Over the Top) Market Report Coverage
|Market Size in 2021:||USD 48.34 Billion|
|Forecast Period:||2022 - 2030|
|Forecast Period 2022 - 2030 CAGR:||16.50%|
|2030 Value Projection:||USD 189.47 Billion|
|Historical Data for:||2017 - 2030|
|No. of Pages:||170|
|Tables, Charts & Figures:||150|
|Segments covered:||By Component, By Revenue Model, By Deployment, By Content Type, By Vertical, By Region, COVID-19 Impact Analysis Report.|
|Companies Covered:||Amazon.com, Inc., Apple, Inc., Google LLC, iNeuron, Kakao Corp., Meta, Inc., Netflix, Inc., Roku, Inc., Telstra Corporation Ltd., The Walt Disney Company, WarnerMedia Direct, LLC, Zee Entertainment Enterprises Limited, and Others.|
|Growth Drivers:||1) Increasing Accessibility to the High-Speed Internet Connectivity. 2) Smartphone Proliferation Rising Market Growth.|
|Pitfalls & Challenges:||The high cost of several OTT platforms is probably going to impede market expansion.|
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OTT (OVER THE TOP) MARKET: DRIVERS
Smartphone Proliferation Rising Market Growth
The emergence of 5G infrastructure, smart TV, smartphones, original media content, and other technologies would offer lucrative prospects for market expansion. Additionally, it is estimated that throughout the anticipated time frame, there will be an increase in demand for internet streaming material, such as live news, movies, sports, and other forms of entertainment.
Demand for Live Streaming Channels is Being Fueled Market Growth
Some of the factors driving the growth of the global over-the-top market include the increase in SVoD services, accessibility of freemium models in price-sensitive markets, availability of a variety of content, surge in demand for live streaming channels, rise in demand for OTT services & gaming during the lockdown period implemented due to the COVID-19 outbreak, and surge in demand for live streaming channels.
OTT (OVER THE TOP) MARKET: RESTRAIN
High Pricing of OTT Platforms
The high cost of several OTT platforms is probably going to impede market expansion. Inadequate data network infrastructure and latency issues also hinder the market's growth. However, it is anticipated that each of these variables will have a considerable impact on market growth throughout the course of the projection period.
The Global OTT (Over the Top) Market is segmented by Component, Revenue Model, Deployment, Content Type, Vertical, and Region. Based on the Component, the market is categorized into Software and Service. Based on Revenue Model, the market is categorized into Subscription, Advertisement, Hybrid & Others. Based on Deployment, the market is categorized into On-Premise and Cloud-based. Based on the Content Type, the market is categorized into Video, Audio, Games, Communication & Others. Based on the Vertical, the market is categorized into Media & Entertainment, Education & Training, Health & Fitness, IT & Telecommunications, E-commerce, Government & Others. Based on the Region, the market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.
MARKET SEGMENTATION: BY REGION
The Global OTT (Over the Top) Market is categorized into North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa.
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North American is anticipated to have the largest market share of the worldwide market for OTT (Over the Top) due to the rising rates of technological adoption and changing market circumstances. Businesses are increasingly focusing on reducing maintenance and update costs, which is driving up demand for cloud-based software. equipped with cutting-edge technology and the highest level of regional broadband connectivity. There is a substantial demand for streaming video in the area, and a sizable fraction of people in the US and Canada have access to high-speed internet. This allows people to watch video content uninterrupted and without buffering. The region's plethora of OTT app developers is the second factor. Customers now have several options to choose from when selecting an app. For instance, Amazon Prime announced their gaming service, Prime Gaming, in August 2020. However, Asia Pacific is anticipated to see the greatest growth rate throughout the projected period of the global OTT (Over the Top) market due to the growing telecoms firms bundling OTT services into their data plans. The rising use of mobile devices and government rules limiting the content on video streaming platforms have both contributed to the exponential rise in OTT service usage.
OTT (OVER THE TOP) MARKET: KEY PLAYERS
- Amazon.com, Inc.
- Apple, Inc.
- Google LLC
- Kakao Corp.
- Meta, Inc.
- Netflix, Inc.
- Roku, Inc.
- Telstra Corporation Ltd.
- The Walt Disney Company
- WarnerMedia Direct, LLC
- Zee Entertainment Enterprises Limited
OTT (OVER THE TOP) MARKET: RECENT DEVELOPMENT
- May 2021 – Kakao acquired INISOFT Co., video streaming technology company, to enter over-the-top (OTT) streaming market.
OTT (OVER THE TOP) MARKET: REPORT OVERVIEW
The scope of the report includes a detailed study of regional markets for Global OTT (Over the Top) Market. The Global OTT (Over the Top) Market is segmented by Component, Revenue Model, Deployment, Content Type, Vertical, and Region. It reveals the market situation and future forecast. The study also covers the significant data presented with the help of graphs and tables. The report covers information regarding the competitive outlook including the market share and company profiles of the key participants operating in the Global OTT (Over the Top) Market.
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