Over The Top Market is expected to grow at a CAGR of 16.5% from 2021-2030, according to a new research report by Next Move Strategy Consulting

The Global Over The Top (OTT) Market size was valued at USD 132.23 billion in 2019 and is predicted to reach USD 709.44 billion by 2030 with a CAGR of 16.5% from 2020-2030.

Over The Top (OTT) is a streaming media service offered to the user directly via internet, with or without subscription, by-passing the conventional distribution system of cable, broadcast, and satellite television platforms. OTT services offer the users access to a number of videos, movies, games, and various digital content on smartphones, tablets, laptops, televisions, and other electronic gadgets.

Benefits offered by OTT against conventional distribution channels such as, lower cost, convenience in streaming channels at consumer’s time, higher comfort, and easy operations, results in higher adoption of OTT services, thereby propagating the growth of Over The Top market.

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Top Companies: Amazon Web Services (AWS), Apple Inc., Microsoft Corporation, Hulu, LLC, Telestra, Tencent Holdings Ltd., Netflix, Facebook, Google LLC, and Rakuten Inc.

Market Dynamics and Trends

The global Over The Top market is on a spur and is expected to witness several lucrative segments of growth in the coming future owing to the increasing intensity of digital content streaming on the internet, specifically the web series, reality shows, and other television contents.

In addition to this, appealing schemes in data packs offered by telecommunication service providers, evolution of 5G technology offering high streaming speed, and increasing amount of digital content targeting the youth, are the major driving factors propelling the growth of the global Over The Top market.

Furthermore, proliferating telecommunication industry, booming television industry, higher adoption of smart gadgets, advancements in IoT, & API technologies, as well as increasing penetration of social media influences, are the factors anticipated to propagate the growth of global Over The Top market throughout the forecast period.

However, lack of awareness regarding the benefits offered by OTT services, and inefficient data network infrastructures, are the limiting factors expected to impede the growth of global Over The Top market during the forecast period.

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Market Segmentations and Scope of the Study:

The global over the top market share has been analyzed based on component, device type, content type, revenue model, user type, end user and geography.

Based on component, the OTT market is segmented into services and solution. Based on device type, the OTT market is fragmented into smartphones, smart TV's, laptops desktops and tablets, gaming consoles, set-top box, and others. Based on content type, the OTT market is divided into video, audio/VoIP, games, communication, and others. Based on revenue model, the OTT market is fragmented into subscription, advertisement, hybrid, and others. Based on user type, the OTT market is categorized into personal and commercial. Based on end user, the OTT market is divided into media & entertainment, education & training, health & fitness, IT & telecom, e-commerce, BFSI, government, and others. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America dominated the global Over The Top market and is expected to maintain its dominance throughout the forecast period, accounting for the major market shares in the OTT market. This is attributed to well established telecom infrastructures, emergence of 5G technology, and presence of major service providers in this region.
Asia-Pacific is expected to grow with the highest CAGR values in the global Over The Top market, throughout the forecast period, owing to the factors like, increasing penetration of regional digital contents, increasing adoption of smart gadgets, increasing standards of livings, and improving telecom infrastructures in this region.

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About Next Move Strategy Consulting:

Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider, committed to deliver high quality, market research reports that help multinational companies to triumph over their competitions and increase industry footprint by capturing greater market share. Our research model is a unique collaboration of primary research, secondary research, data mining and data analytics.

We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicate as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solution that ranges from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses.

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This release was published on openPR.