Over The Top (OTT) Market Size to reach $1,039.03 Billion by 2027 | Valuates Reports
Post COVID-19, the size of the Over the Top Market size is estimated to grow from $171.36 billion in 2020 and projected to reach $1,039.03 billion by 2027, at a CAGR of 29.4%. The current estimation of 2027 is projected to be higher than pre-COVID-19 estimates.
View Full Report: https://reports.valuates.com/market-reports/ALLI-Manu-2R17/over-the-top-services
Depending on device type, the smartphones segment dominated the overall OTT market share in 2019, and is expected to continue this trend during the forecast period. This is attributed to rising penetration of smartphones to stream OTT services and growing market for larger screen smartphones in the developing economies. In addition, the segment is expected to witness the highest CAGR during the forecast period due to ongoing gradual replacement of TVs with smartphones and mobile app streaming via OTT.
The subscription revenue model was the highest contributor to the global OTT market in 2019, and is projected to remain dominant during the forecast period, as the adoption of smartphones and tablets has increased considerably among the target consumers base for vendors that offer SVoD and video-on-demand (VoD) services. In addition, the availability of high-speed internet and smartphone applications have improved access to SVoD services. However, the advertisement revenue model is expected to witness highest growth due to rise in popularity of VoD ads. Moreover, ad-supported VoD platforms is currently experiencing strong growth in ad revenues, thereby making the advertisement-based revenue model popular amidst the COVID-19 pandemic. With five of the major ad-supported streaming platforms such as Hulu, Peacoc, Roku, Pluto TV and Tubi, ad revenue reached 31% year-over-year in the second quarter of 2020.
Inquire for Sample Report: https://reports.valuates.com/request/sample/ALLI-Manu-2R17/Over_the_top_services_Market
Furthermore, the media & entertainment industry dominated the over-the-top market share in 2019, and is expected to remain dominant during the forecast period, due to rise in number of digital video consumers, which is expected to increase the demand of OTT services in the media & entertainment industry. However, the IT & telecom industry is expected to witness highest CAGR during the forecast period, due to rise in need for OTT services in the telecommunication industry for video calling, voice, and messaging services along with rapid adoption of work-from-home policy due to the lockdown enforcement by the government of every country.
Various industries around the globe are being severely affected by the COVID-19-induced recession; however, impact on the technology sector during the crisis was comparatively lesser than the rest of the economy. OTT subscriptions have observed a surge during the pandemic in terms of both time spent as well as newer audiences. Owing to this growing popularity of OTT platforms, various streaming service providers are observing growth in their subscriptions as well as revenue during the COVID-19 crisis. For instance, Netflix reached about 15.8 million paid subscribers in the January to March 2020 amid the pandemic, registering a profit of around $709 million on revenue of $5.8 billion during that period. Furthermore, largest media companies such as AT&T WarnerMedia, Disney, and Comcast-NBCUniversal are shifting their focus from traditional pay-TV ecosystem toward OTT service offerings. In addition, these companies have decided to reduce their future investments in it, and are planning to place most of their best content onto their OTT services, which is expected to make the over-the-top market competitive in nature and will positively impact the revenue generation through these services.
Inquire for Regional Report: https://reports.valuates.com/request/regional/ALLI-Manu-2R17/Over_the_top_services_Market
Key Findings Of The Study
o By component, the solution segment dominated the market. However, the services segment is expected to exhibit significant growth in the global OTT industry during the forecast period.
o Depending on device type, the smartphone segment accounted for the highest revenue of OTT industry in 2019 and is expected to witness significant growth in the upcoming years.
o On the basis of content type, the video segment generated the highest revenue in 2019, and is expected to witness significant growth in the upcoming years.
o As per industry vertical, the media & entertainment industry generated the highest revenue of OTT market in 2019. However, IT & telecom industry is expected to witness highest growth rate in the forecast period.
o Region wise, North America dominated the over-the-top industry in 2019. However, the Asia-Pacific is anticipated to exhibit substantial growth during the forecast period.
Some of the key market players profiled in the report include Amazon Web Services (AWS), Netflix, Hulu, LLC, Google LLC, Apple Inc., Facebook, Telestra, Rakuten Inc., Microsoft Corporation, and Tencent Holdings Ltd. This study includes OTT market trends, over-the-top market size, over-the-top market analysis, and future estimations to determine the imminent investment pockets.
For U.S. Toll Free Call +1-(315)-215-3225
For IST Call +91-8040957137
WhatsApp : +91-9945648335
Twitter - https://twitter.com/valuatesreports
Linkedin - https://in.linkedin.com/company/valuatesreports
Facebook - https://www.facebook.com/valuatesreports/
Valuates offers in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs.
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Over The Top (OTT) Market Size to reach $1,039.03 Billion by 2027 | Valuates Reports here
News-ID: 2322276 • Views: 386
More Releases from Valuates Reports
Electric Car Market Size, Share, Revenue, Worth, Statistics, Segmentation, Outlo …
Electric Car Market Size The global Electric Car market size is projected to reach US$ 597340 million by 2027, from US$ 154350 million in 2020, at a CAGR of 25.3% during 2021-2027. View Full Report: https://reports.valuates.com/market-reports/QYRE-Othe-3Z153/electric-car Electric Car Market Trends Over the next few years, the global market size of electric cars is anticipated to continue to grow mainly driven by technological developments in batteries and the lower cost of lithium-ion (Li-ion) cells.
Benzaldehyde Market Size, Share, Insights, Industry Analysis | Valuates Reports
What is Benzaldehyde? Benzaldehyde (C6H5CHO) is an organic compound consisting of a benzene ring with a formyl substituent. It is colorless liquid has a characteristic almond-like odor. Benzaldehyde is mainly classified into two types: FCC grade and technical grade. And technical grade is the most widely used type which takes up about 68.5% of the global total production in 2016. Benzaldehyde mainly made from toluene. Benzaldehyde is mainly used for pharmaceuticals,
Online Payment Gateway Market Revenue, Growth, Worth, Segmentation, Industry For …
Online Payment Gateway Market Size The global Online Payment Gateway market size is projected to reach USD 6403.3 Million by 2027, from USD 2436.7 Million in 2020, at a CAGR of 14.8% during 2021-2027. View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-39O85/global-online-payment-gateways Online Payment Gateway Market Share China is the largest market for online payment gateways, accounting for about 30%, followed by Europe and the United States, each accounting for about 20%. Alipay, PayPal and Worldpay are the
Intelligent Waste Management Market Worth, Revenue, Statistics, Size, Growth | V …
Intelligent waste management involves the use of Internet of Things (loT)- based systems and technologies in conjunction with a software solution to manage the waste management lifecycle, which ranges from waste generation to disposal. Intelligent sensors, smart waste bins, embedded systems, and smart trackers integrated with waste liners are an integral part of smart waste management. The EMEA will contribute to the maximum growth of this smart waste management market throughout
More Releases for OTT
Reinventing Digital Media, Video Delivery and OTT With Blockchain
Everyone today is talking about blockchain and the potential it has to transform the way we communicate and do business. For industries like banking and finance the use of blockchain appears to be straightforward: securing transactions and locking down communications, but what does it mean for digital media and video? Muvi has released a white paper that details how blockchain technology has the potential to solve Media and OTT industry’s long-standing
OTT Services Market - The Increasing Application of OTT In Media and Entertainme …
The global over-the-top (OTT) services market has been projected in a report by Transparency Market Research (TMR) to witness a rising count of players focusing on inorganic growth strategies such as acquisition of smaller players to gain a competitive edge. However, some of them could also concentrate on improving their product portfolio to attain a position of strength in the market. Google, Apple, and Netflix are among the leading players
OTT Services Market: Rising Demand for Online and Cloud Services to Make OTT Ser …
Global OTT Services Market – Snapshot OTT services are delivered over internet service provider’s channel, however, they don’t have any involvement in the planning or provisioning of service. As these services are directly offered to consumers ‘over the top’ of internet service provider’s network, they have derived the name - over the top services. In response to the proliferation of smartphones and their compatibility with OTT applications, the demand for OTT
Global OTT Services Market: Rising Demand for Online and Cloud Services to Make …
OTT services are delivered over internet service provider’s channel, however, they don’t have any involvement in the planning or provisioning of service. As these services are directly offered to consumers ‘over the top’ of internet service provider’s network, they have derived the name - over the top services. In response to the proliferation of smartphones and their compatibility with OTT applications, the demand for OTT services is poised to rise
OTT Services Market: Rising Demand for Online and Cloud Services to Make OTT Ser …
On account of comprising several international and regional players, the global over the top (OTT) services market exhibit a highly fragmented vendor landscape. With established players expanding their footprint across the world, regional companies are finding it increasingly difficult to compete with them in terms of quality, features, and price advantage. According to Transparency Market Research (TMR), several international companies are likely to grow inorganically in the coming years by
OTT Services: Collaborative Regulation Can Promote Internet Neutrality
The explosive growth of over-the-top (OTT) services has disrupted the telecommunications market by boosting competition and by creating a phenomenal traffic load on the transport pipes of ISPs. Network providers are using traffic differentiation to manage the increased volume and distribute the cost of additional capacity, which has raised equal-access concerns among online content and service providers and consumers. As many governments around the world strive to address the issue,