USD 45.1 Billion
Report ID: SQMG50I2001 | Region: Global | Published Date: November, 2022 | Pages: 157
Global Over-The-Top/OTT Market was valued at USD 45.1 Billion in 2021, and it is expected to reach a value of USD 123.67 Billion by 2028, at a CAGR of 15.5 % over the forecast period (2022-2028).
Over-the-Top/OTT (OTT) is a platform that allows access to film and television content by using a high-speed internet connection instead of cable or satellite that is provider-based. OTT acceptance has considerably assisted the video, podcast, and audio streaming offerings. The narrow type selections, packaging options, wider device availability, internet penetration, and overall cheaper costs are all contributing to increased acceptance. Furthermore, the rising demand for personalized data has resulted in a huge increase in the use of OTT devices.
OTT has gained enormous popularity due to effective social media marketing that has sold OTTs as a “healthier” alcohol choice. OTT's growth is also due to numerous manufacturers entering the market and offering a large variety of products and multiple product launches.
Global Market Size
USD 45.1 Billion
Media & Entertainment
Media & Entertainment
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The Global Over-the-Top/OTT market is segmented based on OTT services, type, platform, component, deployment type, device type, content type, revenue model, user type, vertical, and region. OTT services are segmented into Online Services and Managed Services. By type, the market is segmented into OTT Communication services, OTT media services, and OTT applications services. By platform, the market is segmented into Smartphones, Smart TVs, Laptops, Desktops, Tablets, and others. By Component the market is segmented into Solution and services. By Deployment Type, the market is segmented into Could and On-Premises. By Device Type, the market is segmented into Smartphones, Smart TVs, Laptops, Desktops, Tablets, Gaming Consoles, Set-top Box, and Others. By Content Type, the market is segmented into Video, Audio/VoIP, Games, Communication, and Others. By Revenue Model, the market is segmented into Subscription, Advertisement, Hybrid, and Others. By User Type, the market is segmented into Personal and Commercial. By Vertical, the market is segmented into Media & Entertainment, Education & Training, Health & Fitness, IT & Telecom, E-commerce, BFSI, Government, and Others. Based on region it is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.
Analysis by End User
Due to an increase in the number of digital video viewers, the media and entertainment industry dominated the Over-the-Top/OTT market share in 2021 and is likely to continue dominating during the forecast period. This is expected to boost demand for OTT services in the media and entertainment industries. The IT & telecom business, on the other hand, is predicted to grow at the fastest rate throughout the projection period, owing to an increase in demand for Over-the-Top/OTT services in the telecommunications industry for video calling, voice, and messaging services.
Analysis by Type
In the Over-the-Top/OTT Services Market, the online gaming market will be more transactional than subscription-based. Users want to experience content ownership when it comes to online gaming, so the transaction-based monetization model will increase rapidly. They wish to purchase the complete content so that it can be used with freedom and comfort at any time.
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North America accounted for a noteworthy share of the market. In the US, 64 million homes are using OTT, with an average once-a-month viewing value of more than 80 hours of OTT data. Furthermore, OTT content types mostly related to education, games, and entertainment are seeing increased developments, with more than 60% reach among homes with Wi-Fi. The use of Over-the-Top/OTT (OTT) in sports is getting more widespread. Rising content gaining expenditure throughout this area proves how many companies are incoming the OTT field.
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The global markets are characterized by a fragmented landscape and fierce competition among industry participants. The players have focused their efforts on bolstering their market position through mergers and acquisitions, alliances, and global development. These techniques assist businesses in expanding their geographic reach and improving their service offerings in both domestic and foreign markets.
The expansion of smart devices, broadband, and internet access, together with the introduction of new technologies such as 5G, 4G, robust payment infrastructure, and a dynamic local content ecosystem, is propelling the Over-the-Top/OTT Services Market ahead.
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SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
As per our analysis, the Global Over-the-Top/OTT Market is growing due to factors such as an increase in demand for OTT services in developing regions, an increase in SVoD services, the availability of a wide range of content, a surge in demand for live streaming channels, an increase in demand for OTT services and gaming during the COVID-19 lockdown period, and the availability of freemium models in price-sensitive markets. However, the emergence of new OTT markets and technological advancements in OTT is expected to have a significant impact on market growth. The market's growth is also hindered by the lack of data network infrastructure and latency issues. However, each of these factors is expected to have a significant impact on market growth over the forecast period.
|Market size value in 2021||USD 45.1 Billion|
|Market size value in 2028||USD 123.67 Billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
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For the Global Over-the-Top/OTT Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Over-the-Top/OTT Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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