Over The Top Market by Content Type, Screen Type, and Geography - Forecast and Analysis 2020-2024
- Published: Apr 2020
- Pages: 120
- SKU: IRTNTR41626
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The over the top market size will grow by USD 88.85 billion during 2020-2024. The market’s growth momentum will accelerate during the forecast period because of the increase in year-over-year growth.
This report provides a detailed analysis of the market by content type (video, text and images, VoIP, and music streaming), screen type (mobile devices, desktop/laptops, and TVs), and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape. It offers information on several market vendors, including 8*8 Inc., Alphabet Inc., Amazon.com Inc., Apple Inc., Comcast Corp., Microsoft Corp., Netflix Inc., Sirius XM Holdings Inc., Spotify Technology SA, and The Walt Disney Co.
What will be the OTT Market Size in 2020?
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Who are the Major OTT Vendors?
The OTT market is fragmented. The market players are opting for inorganic growth strategies such as mergers and acquisitions and other strategic alliances. Microsoft Corp., Netflix Inc., Sirius XM Holdings Inc., Spotify Technology SA, and The Walt Disney Co. are some of the major market participants. Although the increasing penetration of mobile computing devices will offer immense growth opportunities, the growing threat of cyberattacks will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this over the top market forecast report provides a detailed analysis of the market leaders. It offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and provides information on the products offered by various companies. Moreover, this OTT market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This OTT market report provides information on the production, sustainability, and prospects of several leading companies, including:
- 8*8 Inc.
- Alphabet Inc.
- Amazon.com Inc.
- Apple Inc.
- Comcast Corp.
- Microsoft Corp.
- Netflix Inc.
- Sirius XM Holdings Inc.
- Spotify Technology SA
- The Walt Disney Co.
Which are the Key Markets for OTT?
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North America was the largest OTT market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Factors such as the presence of key market players and the launch of smart speakers integrated with streaming platforms will significantly influence OTT market growth in this region.
Almost 33% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for OTT in North America. Market growth in this region will be slower than the growth of the market in Europe, APAC, and South America.
What are the Major Content Type Segments in the OTT Market?
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The increasing availability of video content owing to the rising penetration of smart devices such as smartphones and tablets is driving the OTT market growth. Moreover, vendors are striving to provide quality consumer-engaging content and are witnessing a steady increase in the number of subscribers year-over-year (YoY).
The OTT market share growth by the video segment will be faster than the growth of the market by the other segments. This report provides an accurate prediction of the contribution of all the segments to the growth of the OTT market size.
How will Penetration of Mobile Computing Devices Influence OTT Market Growth?
The increasing penetration of mobile computing devices is one of the significant factors driving OTT market growth. Factors such as the increasing per capita income, availability of low-cost smartphones, rising internet penetration, and growing investments in communication network infrastructure are influencing the penetration of mobile computing devices across the world. Mobile computing devices such as smartphones, laptops, and tablets have become the preferred choice for accessing VoIP, text and images, and audio and video content over OTT platforms. This has encouraged several market vendors to develop mobile apps for streaming OTT services through mobile computing devices. These apps provide portability, easier accessibility, and better connectivity than websites.
- Several OTT service providers are adopting advanced technologies, such as AI, to improve customer experience and expand their customer base.
- AI technology is being implemented in multiple aspects of OTT services, ranging from creation and production to post-production, marketing, advertisement, and distribution.
- AI integrated with the OTT platform will automatically recommend relevant content based on the analysis of data of multiple users.
- AI can also help promo editors to identify sections of interest under each theme, thereby aiding them in creating more significant variations of promos for the same media content.
- Although the implementation of AI is still in its early stage, its ability to enhance customer experience will increase its application in OTT services.
- The implementation of AI by OTT service providers is one of the key OTT market trends.
- During 2020-2024, the OTT market will grow at a CAGR of almost 14%.
What are the Key Factors Covered in this OTT Market Report?
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will drive OTT market growth during the next five years
- Precise estimation of the OTT market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the OTT industry across APAC, Europe, MEA, North America, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of OTT market vendors
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Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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Frequently Asked Questions?
- Growing preference for cloud streaming services
- Application of artificial intelligence and system integration
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