Over the Top Market Projected to Grow at 118.51 Billion by 2023 - ESPN Play, Fox Sports Play, Globosat Play, Telecine Play across Chile, Brazil, Mexico
Over the Top (OTT) Market was anticipated at USD 28.02 Billion in 2015, and is predicted to reach USD 118.51 billion by 2025, with the CAGR of over 15% over the forecast period. Rising adoption of device based computing and varied availability of global broadband infrastructure are the major drivers of OTT Market. Rapid computerization in banking system, high speed internet availability, increasing E-commerce sector, growing trend for Omni-channel retailing and preference of online media over traditional TV are considered to be the notable trends propelling the OTT market over the forecast period.
Growing trend of cord cutting and high penetration level of smart devices across the globe is expected to positively influence the industry. OTT enables users to access desirable content promptly and has been anticipated to break the barriers of expensive and inflexible content sharing techniques. Original content by leading OTT companies, such as Netflix and Amazon has proved to be successful in the market and has encouraged the market leaders with proprietary content to investment in producing more content uniquely.
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The growth in the Latin America OTT platform has developed the regional pay-TV platforms leading to introduction various “TV Everywhere” services by international broadcast group, including ESPN Play, Fox Sports Play, Globosat Play, and Telecine Play across Chile, Brazil, Mexico, and Colombia. Some of the prominent key players in over the top market are Akamai Technologies Inc., Amazon.com Inc., Microsoft Corporation, Apple Inc., CBS Corporation Inc., Limelight Networks, Facebook Inc., HBO NOW, Google Inc., Hulu LLC., Netflix Inc., and Roku Inc.
Text, images, VoIP and Videos are few of the forms of OTT used by large number of population, although, video content sharing and video streaming are popularizing exponentially across the globe. Rapidly increasing large viewers’ population and expansion of user base in different regions has led to the increased competition in the industry. The key factor spurring the growth over the forecast period includes rising smartphone users, household broadband penetration, and rise in internet users. Furthermore, growth in global advertisement spending on internet, rising economic growth and cloud services are also positively impacting the market. However, OTT segment has been altered owing to high competition, regulatory imbalances, cost incentive, and legal & regulatory issues.
North America is expected to acquire the major share of the market
The North America market has been anticipated to account for the largest revenue share of the global OTT market and has been expected to retain the dominance over the forecast period. Continuous adoption of OTT across the U.S. supported by various factors, including rising broadband penetration level, success of media companies such as Amazon and Netflix in the regional market, and consumer willingness to pay for the content is projected to fuel the market over the forecast period.
On the basis of platform segment, the report displays the market share,
revenue, and growth rate of each type, primarily split into
• Smart Devices (Smart TV and smartphones)
Growing access to the internet has led to the enhanced growth in Smart Devices segment
Smart devices and desktops have augmented new applications and technologies allowing customers to access internet and download media files and stream live content regardless of time and place Google Chrome cast, Amazon Fire TV Stick, and Apple TV are few smart streaming devices overcoming various challenges by enhancing home entertainment solutions with internet-connected device platforms and allowing access to streaming online content to TV Additionally, various smart TV manufacturers including Sony Corporation, Samsung Electronics Co. Ltd., Panasonic, and LG Electronics Inc., are developing apps in collaboration with streaming media device companies, such as Amazon, Apple, and Roku, to deliver OTT content and services as standard product package.
Based on services type, the report includes the market share, revenue, and growth rate of each type, primarily bifurcated as
• Installation & maintenance
• Training & support
• Managed services
Based on revenue model, the report includes the revenue, market share, and growth rate of each type, primarily segmented as
On the basis of deployment model, the segment includes the market share, growth rate and revenue, of each type, primarily divided into
Global OTT corporations have started concentrating on revenue generation and enhancing cloud services. The market players additionally offer various resources including infrastructure platform, and bill customers on an hourly or monthly period to the customers. The benefit of cloud-based content application is leveraged growth of real-time communication along with improved performance and reduced costs.
On the basis of End-User, the market has been segmented into
• Banking, Financial Services, and Insurance (BFSI)
• Media and Entertainment
• IT and Telecommunication
Geographically, the global market has been segregated into Asia Pacific, North America, the Middle East & Africa, Europe, and Latin America. Market share, revenue (Billion USD), and growth rate for these regions, from 2015 to 2025 (forecast) are:
• Asia Pacific: China, Japan, India and Rest of Asia Pacific
• North America: U.S., Rest of North America
• Middle East & Africa: GCC, North Africa, South Africa and Rest of MEA
• Europe: Germany, France, UK, rest of Europe
• Latin America: Brazil and Rest of Latin America
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