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Over The Top (OTT) Services Market 2021 Net Worth is US$ 139.00 billion and Forecasts by 2028 |With Top Key Companies: Amazon.com, Inc., Netflix, Inc., Hulu, LLC, Google LLC, Apple, Inc., Facebook, Inc....
Over The Top (OTT) Services Market 2021-2028
New study report " Over The Top (OTT) Services Market 2021 Global Market Opportunities, Challenges, Strategies, and Forecasts 2028" has been added to Fortune Business Insights.
Market Overview-
The global over the top services market is set to gain traction from the increasing demand for smart TVs because of their possession of a wide range of advanced functions and features. In April 2021, for instance, Samsung Electronics joined hands with MediaTek to unveil Wi-Fi 6E enabled 8K TV. The 8K QLED Y21 smart TV by Samsung will include MediaTek MT7921AU chipset. This information is given by Fortune Business Insights™ in a published report, titled, “Over The Top (OTT) Services Market, 2021-2028.” As per the report, the market size was USD 38.77 billion in 2020. It is projected to grow from USD 44.54 billion in 2021 to USD 139.00 billion in 2028 at a CAGR of 17.7% in the forecast period during 2021-2028.
COVID-19 Pandemic: Lockdown Measures Have Surged the Number of Subscribers
The temporary shutdown of entertainment zones, box-offices, and multiplexes have accelerated the demand for over the top services worldwide because of the COVID-19 pandemic. Nationwide lockdown measures have also raised the number of subscribers. The India Brand Equity Foundation, for instance, declared that in 2020, in just four months, the paid subscription of OTT video platforms surged by 31%. We are providing in-depth research reports to help you find the best strategy to take your business to a whole new level amid the pandemic.
Top Key Players in this market are:
Amazon.com, Inc. (Washington, United States)
Netflix, Inc. (California, United States)
Hulu, LLC (California, United States)
Google LLC (California, United States)
Apple, Inc. (California, United States)
Facebook, Inc. (California, United States)
Telstra Corporation Ltd. (Melbourne, Australia)
Rakuten, Inc. (Tokyo, Japan)
Roku, Inc. (California, United States)
Kakao Corp. (Jeju-si, South Korea)
Vimeo Live (New York, United States)
The Walt Disney Company (California, United States)
Sling TV (Colorado, United States)
AT&T TV (WarnerMedia HBO) (California, United States)
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Competitive Landscape-
Key Players Focus on Launching Innovative Platforms to Compete with Their Rivals
The global market for over the top services contains a large number of companies that are majorly aiming to cater to the needs of people across the globe. That is why they are developing cutting-edge platforms to compete with their rivals. Below are the two latest industry developments:
May 2021: Kakao Entertainment acquired a video streaming technology provider named I&Soft worth USD 25 billion. This would enable the former to expand its OTT service business.
May 2021: Amazon India introduced an ad-supported, free video streaming service called miniTV available in Amazon shopping app. It has professionally curated and created content across fashion, comedy shows, beauty, web-series, and tech news.
Segmentation-
Media Services Segment to Dominate Stocked by Surging Number of Live-streaming Platforms
By type, the market for OTT services is divided into applications services, media services, and communication. Out of these, the media services segment is likely to remain at the forefront because of the rising number of platforms providing live-streaming, such as music, online games, sports, and concerts. The communication services segment generated 45.2% in terms of the OTT services market share in 2020. It is estimated to grow significantly backed by the emergence of i-message and WhatsApp.
Regional Insights-
Asia Pacific Stood at USD 15.93 Billion in 2020: Fortune Business Insights™
Geographically, in 2020, North America procured USD 15.93 billion in terms of revenue. It is expected to dominate in the near future because of the rising investments by companies in the content creation sector. In the U.S., the presence of prominent OTT service providers, namely, Apple TV, HBO Max, Quibi, and Disney+ would accelerate growth. On the other hand, Asia Pacific would grow exponentially backed by the presence of a well-established broadcaster sector in the region.
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Report Coverage-
The report delivers an elaborate assessment of numerous customers’ journeys related to this industry, regions, and segments. It also provides various customer impressions about over the top services and their applications. The business intelligence and consultation solutions would aid interested stakeholders, such as chief experience officers to enhance customer experience maps catered to their requirements. They can transform customer experience and engagement with their own brands.
Table Of Content:
Introduction
Key Takeaways
Market Dynamics
Competition Landscape
Global Over The Top (OTT) Services Key Players Market Share Insights and Analysis, 2020
Key Market Insights and Strategic Recommendations
Companies Profiled (Covered for key 10 players only)
Annexure / Appendix
Continue….
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Fortune Business Insights offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in. Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
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