Press release
Over The Top (OTT) Services Market Outlook, Developments And Industry Growth Forecast 2022 To 28
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Media & Entertainment Segment to Dominate the Over the Top (OTT) Services Market:
Based on the application, the global OTT services market can be segmented into media and entertainment, education and learning, gaming, health & fitness, it & telecom, e-commerce, government, and others. among them, the media & entertainment segment is expected to dominate the market in the forecasted years. Various live streams such as sports, concerts, online gaming, music streaming, and others will drive the growth of the media and entertainment segment. Moreover, video-on-demand services such as Netflix, Amazon, Apple, and other global players will boost market opportunities in the upcoming years. For instance, Netflix had about 221.64 million subscribers as of the first quarter of 2022.
North America Over the Top (OTT) Services Market:
North America held a major market share in 2021 and is expected to dominate the global OTT services market in the upcoming years due to the high demand for OTT services, and high adoption rate of advanced technology. The Asia Pacific market is expected to gain exponential growth in the Over the Top (OTT) Services market over the forecast period. The Asia Pacific market is expanding as a result of the growing number of OTT service platform subscribers, and the growing number of smartphone users.
Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The Over the Top (OTT) Services market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In Aug 2022, YouTube, one of Alphabet Inc's premium companies is planning to launch a new streaming service. In July 2022, Netflix announced that they will be partnering with Microsoft and using their services to help deliver the commercials in their cheaper, ad-supported version of its video streaming service.
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The over-the-top (OTT) services market is segmented based on type, streaming devices, monetization model, application, and geography.
Based on the type, the market is segmented into the following:
• Online Gaming
• Music Streaming
• Audio & Video
• Communication
• Cloud services
• Others
Based on the streaming devices, the market is segmented into the following:
• Smartphones and Tablets
• Smart TVs
• Desktops and Laptops
• IPTV and Consoles
• Others
Based on the monetization model, the market is segmented into the following:
• Subscription-based
• Advertising-based
• Transaction-based
Based on the application, the market is segmented into the following:
• Media and Entertainment
• Education and Learning
• Gaming
• Health & Fitness
• IT & Telecom
• E-Commerce
• Government
• Others
Based on geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA
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Key players' profiles in the over the top (ott) services market report are Facebook (US), Netflix (US), Amazon (US), Microsoft (US), Google (US), YouTube (US), Apple (US), Roku (US), Vudu (US), Hulu (US), Tencent (China), Rakuten (Japan), Kakao (South Korea), Line (Japan), and Disney Streaming (US).
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