OTT Services Market - The Increasing Application of OTT In Media and Entertainment and Ecommerce
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The analyst of this business intelligence study has also detected that developing a sense of brand image is essential to maintain a stronghold over the over the top services market. “A strong percentage of customers are repeated, and hence developing a loyalty among them will go a long way in sustaining in-flow of demand,” says the analyst.
global over the top services market
TMR report has estimated the global OTT services market to collect mega revenue worth a US$3,538.04 billion by 2025, while gaining an increment in demand at a 16.4% CAGR during the completion of the forecast tenure 2017-2025. In 2017, the market has been evaluated to have had a valuation of US$1,049.21 billion. By business model, premium and subscriptions have been foreseen to continue with their dominance taking cue from their close to a 48.5% share fetched in 2017. On the regional front, Asia Pacific is projected to exhibit a greater CAGR of 16.1% between 2017 and 2025.
Growing Production of In-house Web Series to Bolster Demand
The demand in the world OTT services market has been predicted to gain strength with the personalization of technology in almost every industry. Rising need for infrastructure and compliance, swelling application of OTT services in mobile devices, and escalating demand for time-shifted television could also help the market to create growth opportunities in the coming years. Yet, there could be more factors prognosticated to support market growth: rising production of in-house web series, extensive availability of broadband infrastructure, and snowballing adoption of device-based computing.
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Reluctance of Customers to Spend on OTT Services to Forestall Growth
The international OTT services market has been prophesied to be hampered by low scope of customer retention, reluctance of customers to make purchases, lack of procedure to curb or identify piracy, and growing popularity of free online video streaming. However, players could find lucrative prospects birthing on the back of the rising usage of digital rights management (DRM) in web browsers, amplified adoption of real-time bidding (RTB), and the advent of video streaming services. More opportunities have been envisaged to come by as OTT services and platforms charge customers affordably.
Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations
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