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Over The Top (OTT) Market - Detailed Analysis of Current and Future Industry Figures till 2026 | Top Key Players:- Facebook, Inc., Google LLC, Netflix, Inc., Microsoft Corporation, Apple, Inc., Hulu, LLC, Amazon.com, Inc.
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List of Companies Profiled in the Over The Top Services Market Report:
• Vudu, Inc.
• Roku, Inc.
• Rakuten, Inc.
• Facebook, Inc.
• Google LLC
• Netflix, Inc.
• Kakao Corp.
• Microsoft Corporation
• Telstra Corporation Ltd.
• Apple, Inc.
• Hulu, LLC
• Amazon.com, Inc.
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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According to the report, the value of this market was at USD 30.23 billion in 2018. The report answers the following questions:
• Which factors and restraints are influencing the growth of this market?
• What are the key industry trends?
• How has the market been segmented?
• Who are the prominent market players and what are their strategies?
• Which regions hold the most promising prospects for this market?
• What are the upcoming opportunities in this market?
Market Driver
Increasing Access to the Internet Worldwide to Propel the Market
Internet access around the world is expanding and this factor will play a crucial role in the over the top services market growth as these services are heavily dependent on fast and stable connectivity. According to the World Economic Forum (WEF), there are a total of 4.2 billion internet users, indicating that more than 50% of the world’s population has access to internet. The most heartening growth, the WEF notes, has been in Africa, where internet users have grown by 500% since 2009. Furthermore, a deeper statistical analysis shows that more than 5 billion searches on Google in a single day and currently, there are around 1.7 billion websites that operating in the digital universe. All these factors augur well for this market growing internet usage would translate into greater uptake of OTT services worldwide.
Regional Dynamics
Promising Economic Development to Stoke Market Growth in Asia-Pacific
Asia-Pacific is poised to emerge the most lucrative region for this market owing to its large population, burgeoning economies of India and China, and high demand for relatable content. Moreover, platforms such as Netflix and Amazon Prime Video are tapping the creative potential of artists in this region to deliver highly original content to viewers in the West, where there is rising demand for foreign language films and shows. However, the region dominating the over the top services market share will be North America, with a market size of USD 12.97 billion in 2018. This is mainly attributable to a financially robust entertainment industry and availability of high-speed internet, along with the presence of streaming services giants such as Netflix and Apple. On the other hand, the market in Europe is expected to experience moderate growth as large proportion of the population still prefers traditional cable TV in the region.
Competitive Landscape
Key Players to Stream Sporting Events to Attract Viewers
Core competitors in this market are seeking rights to broadcast sporting events on their platforms to cater to the high demand for sports programs in most countries. Such broadcasting rights enable OTT service providers with an opportunity to diversify their offerings to viewers and also expand their user-base with a wider variety of content.
Industry Developments:
• April 2020: Amazon secured exclusive rights to broadcast the US National Football League (NFL) special games that take place on Saturdays during the NFL season. The company already has the rights to televise the NFL Thursday Night Football games on its Prime Video and Twitch platforms.
• December 2019: Netflix announced the beginning of production of its second original series from Egypt, which will feature Abla Fahita, country’s favorite puppet. The company plans to release the show in 2020 and will be produced by local production houses.
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