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The over the top (ott) market size is forecast to increase by USD 439.12 billion between 2022 and 2027, accelerating at a CAGR of 24.85%. In 2017, US held the largest market share, projecting an annual revenue of USD 25.9 billion.The report includes a comprehensive outlook on the over-the-top (OTT) Market , offering forecasts for the industry segmented by Content type which comprises Video ,Text and /images,VoIP and Music streaming. Additionally, it categorizes Device into Smartphones and Tablet, Laptop and Desktop and Smart TV and covers Geography regions, including North America, Europe, APAC, South America, and Middle East and Africa. The market trends and analysis report provides market size, historical data spanning from 2017 to 2021, and future projections, all presented in terms of value in (USD million) for each of the mentioned segments.
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Growing preference for cloud streaming services is a major market driver. Advancements in wired and wireless technologies, such as 3G, 4G, and 5G, are driving global adoption of cloud streaming services. These services prevent illegal downloading and sharing of video and audio files. Vendors use push strategies, like the freemium model, to convert free users to premium services, ensuring sustainability. Consumers are shifting to paid premium services for features like ad-free listening, high-quality audio, and the ability to download and skip tracks.
Cloud-based streaming is replacing traditional music systems, offering storage, streaming, and sharing across devices. Companies like Amazon and Google rely on the cloud to meet the demand for music, movies, and videos. Cloud streaming generates higher revenues for content companies and provides social media integration for personalized preferences and sharing. With growing internet penetration and improved services, consumers will increasingly adopt cloud streaming.
The video segment is expected to experience significant market share growth in the forecast period. The video on demand market will witness substantial growth due to the increasing availability of video content. OTT services in the video category can be divided into subscription video-on-demand (SVOD), advertising-based video-on-demand (AVOD), and transactional video-on-demand (TVOD). SVOD allows users to access video content for a limited period by paying a subscription fee. AVOD involves generating revenue through advertisements while users stream videos, with the content being free to watch. Platforms like YouTube operate on the AVOD model.
APAC is estimated to contribute 34% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The presence of major market players like Facebook, Netflix, Amazon, Microsoft, Google, YouTube, Apple, Home Box Office, Roku, IndieFlix, Vudu, and Hulu in North America is driving the growth of the OTT market in the region. These vendors generate significant revenue from their North American business segments, which contribute the most to their overall operations. Many streaming service providers in the region are partnering with smart speaker manufacturers to integrate audio and video streaming services into their systems. Additionally, Amazon.com, Apple, and Google are launching smart speakers with integrated streaming platforms, further fueling the growth of the OTT market.v
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The Market is fragmented in nature. Some significant players include 8x8 Inc and Alphabet Inc.,
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Amazon.com Inc., Apple Inc., Cinedigm Digital Cinema Corp., Comcast Corp., Deezer SA, Meta Platforms Inc., FlixFling LLC, iflix Ltd., Indieflix Inc., Microsoft Corp., Netflix Inc., Sirius XM Holdings Inc., Sony Group Corp., Spotify Technology SA, Telstra Corp. Ltd., Tencent Holdings Ltd., The Walt Disney Co., and Paramount Global
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 - 2027.
Over The Top (OTT) Market Scope |
|
Report Coverage |
Details |
Page number |
174 |
Base year |
2022 |
Historic period |
2017 - 2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 24.85% |
Market growth 2023-2027 |
USD 439.12 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
21.42 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
APAC at 34% |
Key countries |
US, Canada, China, UK, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
8x8 Inc., Alphabet Inc., Amazon.com Inc., Apple Inc., Cinedigm Digital Cinema Corp., Comcast Corp., Deezer SA, Meta Platforms Inc., FlixFling LLC, iflix Ltd., Indieflix Inc., Microsoft Corp., Netflix Inc., Sirius XM Holdings Inc., Sony Group Corp., Spotify Technology SA, Telstra Corp. Ltd., Tencent Holdings Ltd., The Walt Disney Co., and Paramount Global |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
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