Over The Top Market Global Future Estimation, Insight and Complete Strategic Analysis 2021-2030

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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Competitive Landscape

The over the top market, is highly competitive and consists of various market players. Some of the major market players include Amazon Web Services (AWS), Apple Inc., Microsoft Corporation, Hulu, LLC, Telestra, Tencent Holdings Ltd., Netflix, Facebook, Google LLC, and Rakuten Inc. among others.

With the development & deployment of new technologies, and launch of new products equipped with up-to-date features, market players are undergoing various business strategies to sustain their position in the over the top market.

For instance, Amazon Web Services (AWS), one of the leading providers of the over the top market and a subsidiary of Amazon.com company in the first half of 2020, announced that various service providers namely Second Spectrum, the leading optical tracking & analytics provider of sports league; Carrier Selects, a pioneer manufacturer in air-conditioning, heating, ventilating, fire, refrigeration, security, and building automation technologies; 3M company, an American multinational conglomerate corporation, and Lyell Immunopharma, had preferred its services as a cloud provider with an objective to digitally transform the above mentioned organizations.

In March 2020, Hulu + Live TV, one of the major providers of the over the top market, announced the launch of PlayStation 4 and Comcast Xfinity Flex & X1, allowing the users to customize their experience with amazing Hulu features.

In April 2020, Netflix and Italian Film Commission, announced a new ‘COVID-19 Film and TV Emergency Relief Fund’. Netflix donated 1 Million Euro to launch the fund, and it was managed by Italian Film Commission. The fund intended to provide short term relief to fitters, electricians, makeup artists and other active workers in the TV and cinema industry who were directly affected by the closure of productions across Italy due to the outbreak of COVID-19 pandemic.

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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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