Increase in demand for OTT and SVoD in the emerging countries and surge in demand for live streaming channels are expected to boost the growth of the OTT market
PORTLAND, OREGON, UNITED STATES, September 14, 2020 /EINPresswire.com/ — According to the report published by Allied Market Research, the global over-the-top (OTT) market was pegged at $97.43 billion in 2017 and is projected to reach $332.52 billion by 2025, registering a CAGR of 16.7% during the forecast period. The rise in demand for OTT and SVoD in the emerging countries, expansion in the variety of contents, increased in demand of live streaming channels, and advancements in OTT technology have boosted the growth of the global OTT market. However, lack of data network infrastructure and latency issues hamper the market growth.
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The solution segment held the largest share in 2017, contributing more than three-fifths of the market, owing to the growing demand for innovative OTT solutions for media sharing by the consumers. However, the services segment is projected to register the fastest CAGR of 18.3% during the forecast period, owing to an increase in the adoption of services among end-users, as they ensure the effective functioning of software and platforms throughout the process. The smartphone segment dominated the market in 2017 in terms of revenue, contributing nearly one-third of the total market, owing to the rising use of smartphones to stream OTT services and the growing market for larger screen smartphones in the developing countries. Moreover, the segment is projected to manifest the fastest CAGR of 20.0% during the study period. The report includes an in-depth analysis of the other segments such as smart TVs, laptops desktops and tablets, gaming consoles, set-top boxes, and others.
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The video segment is expected to portray the fastest CAGR 18.3% during the forecast period, owing to the progressive rollout of new technologies that lead to more video consumption. Moreover, the segment held the largest share in 2017, contributing more than one-third of the total market share. The report includes an analysis of the other segments such as audio/VoIP, games, communication, and others. The market across the Asia-Pacific region is estimated to register the fastest CAGR of 20.8% during the forecast period, as telecommunication provider in the region has started bundling OTT services along with their data plans. However, the market across the North America region held the largest share in 2017, accounting for more than half of the market share. The report also includes an analysis of the market across Europe and LAMEA.
Major market players
The global OTT market report provides a detailed study of the major market players such as Netflix, Amazon Web Services (AWS), Google LLC, Hulu, LLC, Facebook, Apple Inc., Rakuten Inc., Telstra, Tencent Holdings Ltd., and Microsoft Corporation.
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Key questions answered in the OTT Market research study:
• What is the market growth rate of OTT Market from 2020-2027?
• What will be the global market size of the market from 2020 to 2027?
• Who are the leading global players in the OTT Market?
• What are the current trends and predicted trends?
• What are the challenges faced in the OTT Market?
• Which will be the niches at which players profiling with thorough plans, financials, and also recent advancements should set a presence?
• Which will be the anticipated growth rates for your own OTT Market economy altogether and also for every segment inside?
• Which will be the OTT Market application and types and forecast accompanied closely by producers?
• What are the conclusions of the OTT Market report?
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