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Over the Top (OTT) Market worth USD 251.76 billion by 2027
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Global Over the Top (OTT) Market Segmentation
The overall over-the-top (OTT) market has been segmented into content type, revenue, user type, end user, and regions.
By Content Type (Video, Audio, Games, Communication, and Others),
By Revenue (Subscription, Advertisement, Transaction, and Others)
By User Type (Personal and Commercial)
By End User (Media & Entertainment, Education & Training, Health & Fitness, IT & Telecom, E-commerce, BFSI, Government, and Others)
By Region (US, Mexico, Canada, UK, Italy, Germany, France, Spain, Japan, China, India, South Korea, Southeast Asia, Australia, Saudi Arabia, South Africa, Qatar, UAE, Nigeria, Israel, Brazil, Argentina, Peru)
Media & Entertainment, by User Type, is estimated to hold the largest market share during the forecast period
Based on the end-use, the global over the top (OTT) market has been segmented in media & entertainment, education & training, health & fitness, it & telecom, e-commerce, BFSI, government, and others. In 2020, Media & Entertainment segment had the largest market revenue share of 35% in the market of over the top (OTT).
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In media & entertainment, there is the involvement of every segment in the end-use. OTT can be used for any purpose; it can be used for watching the news, watching games, watching movies or watching shows, and many more. There was a high increase in OTT demand during the pandemic as it was only the source for watching anything at home. Nowadays, the film industry or a serial director collaborate, directly uploading their shows and movies on OTT instead of on a TV channel or cinemas.
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North America accounts for the largest market share during the forecast period in the over the top (OTT) market
Based on the regions, the global over the top (OTT) market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2020, North America was accounted for the highest market share of 50.16% in the global over the top (OTT) market and was anticipated to maintain its dominance throughout the forecast period, followed by Europe and the Asia Pacific.
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The United States has the largest market of OTT in the world. The high penetration of smart devices, like smart TV and smartphone, increasing demand for VOD content, and high rate of per-user payment are some of the major factors driving the OTT market in the country. Also, the top global OTT vendors, like Amazon and Netflix, are US-based, providing an advantage to the regional market. Diverse ethnic cast and content are also among the emerging trends in the country that have fuelled the market growth. Creators are making shows that target a broader range of ethnic groups. As the US audiences are socially conscious, the OTT content offers authentic stories, especially with a vast ethnic group, raising the content engagement in the country, hence supporting the studied market growth.
Some of the major companies that operate in the global over the top (OTT) market are Netflix Inc., Amazon.com Inc., Tencent Holdings Ltd, The Walt Disney Company (Hulu), Roku Inc DAZN Group Limited, NBC Universal (Hayu), Google LLC (YouTube), and PCCW Media Group (Viu).
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