New York, Dec. 11, 2023 (GLOBE NEWSWIRE) — The Over-the-Top (OTT) market report offers a comprehensive analysis of the rapidly evolving landscape driven by the increasing preference for cloud-based streaming services. Highlighting key drivers like technological advancements and shifting consumer behaviors towards premium services, the report provides insights into market growth trends across content types, devices, and geographical regions. With a focus on North America, Europe, APAC, South America, and the Middle East and Africa, this analysis presents valuable insights into the dynamic OTT market landscape. Request Sample Report
What is the projected growth rate and size of the Over-The-Top (OTT) Market from 2023 to 2027?
The Over-The-Top (OTT) Market is anticipated to witness substantial growth, projected to expand at a CAGR of 24.85% during the forecast period. The market size is forecasted to increase significantly, by USD 439.12 billion within this period.
What factors are driving the growth of the Over-The-Top (OTT) Market?
The increasing preference for cloud streaming services significantly drives the Over the Top (OTT) market. Advancements in both wired and wireless technologies, such as 3G, 4G, and 5G, play a significant role in the global adoption of cloud streaming services. These services effectively deter illegal downloading and sharing of video and audio files. Companies employ strategies, like the freemium model, to convert users from free to premium services, ensuring sustainability. Consumers are transitioning towards paid premium services due to features such as ad-free listening, high-quality audio, and the convenience of downloading and skip tracks. Buy the report
Which region is estimated to contribute significantly to the Over-The-Top (OTT) Market growth?
The APAC region is anticipated to contribute around 34% to the global market growth 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 a significant driver propelling the growth of the OTT market in the region. These vendors derive substantial revenue from their North American business segments, contributing significantly 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, companies like Amazon.com, Apple, and Google are launching smart speakers embedded with streaming platforms, further fostering the growth of the OTT market.
Can you provide an overview of the major companies in the Over-The-Top (OTT) Market?
The Over-The-Top (OTT) Market comprises several significant players, including 8×8 Inc. and Alphabet Inc. The competitive landscape features comprehensive analyses of 15 market companies, such as 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. These companies operate across global, regional, and country levels, with the report offering detailed analyses of their competitive landscapes, market positioning, strategies, and associated industry risks. For a more in-depth understanding of other segments and detailed insights, download the sample report
Video-on-demand Market: The video-on-demand (VOD) market size is estimated to grow at a CAGR of 15.98% between 2022 and 2027. The market size is forecast to increase by USD 187.53 billion.
Video Streaming Market: The Global Video Streaming Market size is estimated to grow at a CAGR of 20.36% between 2022 and 2027. The market size is forecast to increase by USD 310.44 billion.
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.