Press release
Rising Use of Smartphones to Drive the OTT (Over The Top) Market Growth Analysis By Key Companies: Amazon.com, Inc., Apple, Inc., Google LLC, iNeuron, Kakao Corp. etc.
The Global OTT (Over The Top) Market is anticipated to grow from USD 48.34 Bn in 2021 to USD 189.67 Billion by 2030 with a CAGR of 16.3%. Several factors attributed to the growth of the OTT (Over The Top ) market include rising penetration of the internet across the globe along with its cheaper cost and availability of a wide range of devices. These factors are anticipated to grow the global OTT (Over The Top) market significantly during the forecast period.
Over-the-top services are those that offer movies and TV shows to digital viewers directly, without the requirement for a cable or satellite television subscription. Users can directly download and stream OTT content whenever and wherever they want.
Get Sample Copy of Report@ https://www.extrapolate.com/sample/Information-Technology-Communication-IoT/ott-over-the-top-market/26045
These types of content are provided directly over the internet on consoles, tablets, smartphones, and linked PCs which includes movies and television shows. Even though over-the-top services are relatively in their infancy stage, they are already acknowledged as a widespread technology on a global level.
List of Key Companies Profiled:
• Amazon.com, Inc.
• Apple, Inc.
• Google LLC
• iNeuron
• Kakao Corp.
• Meta, Inc.
• Netflix, Inc.
• Roku, Inc.
• Telstra Corporation Ltd.
• The Walt Disney Company
• WarnerMedia Direct, LLC
• Zee Entertainment Enterprises Limited
Enquire About Report@ https://www.extrapolate.com/enquire/Information-Technology-Communication-IoT/ott-over-the-top-market/26045
Media & Entertainment Segment to Dominate the Market Due to Rapid Adoption of the Technology
On the basis of vertical, the global OTT (Over The Top) market is segmented into media & entertainment, education & training, health & fitness, IT & telecommunications, e-commerce, government & others. The media & entertainment segment has dominated the global OTT (Over The Top) market share and is predicted to continue its dominance on the market owing to increasing demand for over-the-top services in the industry.
On the other hand, the telecommunication segment is expected to experience significant growth throughout the forecast period due to rapid acceptance of the services in the industry for various purposes including video calling, phone, and messaging.
Segmentation:
By Revenue Model
• Subscription
• Advertisement
• Hybrid
• Others
By Content Type
• Video
• Audio
• Games
• Communication
• Others
By Vertical
• Media & Entertainment
• Education & Training
• Health & Fitness
• IT & Telecommunications
• E-commerce
• Government
• Others
Browse Complete Report@ https://www.extrapolate.com/Information-Technology-Communication-IoT/ott-over-the-top-market/26045
Increasing Use of Smartphones to Drive Market Growth
The introduction of new technologies including smartphones, smart TVs, 5G infrastructure, original media content, and others is anticipated to offer lucrative opportunities to grow the OTT (Over The Top) market during the forecast period. Furthermore, the increasing demand for online streaming content such as movies, live news, sports, and other entertainment is expected to drive market growth.
The expansion of SVoD services, the accessibility of a wide range of content, the significant rise in demand for live streaming channels, the increase in demand for OTT services, and gaming during the COVID-19 outbreak lockdown period are a few additional factors driving the growth of the global over-the-top market.
Industry Developments -
● May 2021 - Kakao purchased INISOFT Co., a provider of technology for online video streaming, in order to enter the OTT (Over The Top) streaming sector.
North America to Lead the Market Due to Increasing Adoption Rate of Technologies
The global OTT (Over The Top) industry is predicted to be dominated by North America due to rising rates of technological adoption and changing market dynamics. Cloud-based software is in greater demand as a result of businesses' increased focus on lowering maintenance and update expenses. The region is equipped with smart devices and high broadband connectivity.
The region has a considerable demand for streaming video, and many people in the US and Canada have access to high-speed internet. As a result, viewers can watch video content without interruption or buffering. The presence of a plethora of OTT app developers in the region is the second factor boosting the market growth. The number of options available to customers while choosing an app has increased. For instance, Amazon Prime introduced a gaming service called Prime Gaming in August 2020.
Key Market Players to Focus on Partnerships in Order to Expand Their Consumer Base
Key players in the global OTT (Over The Top) market are anticipated to focus more on partnerships, collaborations, agreements, and service innovations in order to secure the top position in the market and expand their consumer base by providing multiple services on the platform.
Amazon.com, Inc., Apple, Inc., Google LLC, iNeuron, Kakao Corp., Meta, Inc., Netflix, Inc., Roku, Inc., Telstra Corporation Ltd., The Walt Disney Company, WarnerMedia Direct, LLC, and Zee Entertainment Enterprises Limited are some of the prominent players operating in the global OTT (Over The Top) market.
Conatct Us:
Extrapolate
Phone: (+1) 888 328 2189
E-mail: talk@extrapolate.com
Website: https://www.extrapolate.com
About Extrapolate
Extrapolate is a global market research and content services firm that works closely with clients in various industries to improve market position, increase returns on marketing investments, and define and implement strategies that get real results.
In an era of breakneck change and a low tolerance for missed or misread opportunities, businesses need astute guidance to shape markets - not merely respond to them. Extrapolate helps clients develop market perspectives that drive commercial success.
This release was published on openPR.
Permanent link to this press release:
Copy
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 Rising Use of Smartphones to Drive the OTT (Over The Top) Market Growth Analysis By Key Companies: Amazon.com, Inc., Apple, Inc., Google LLC, iNeuron, Kakao Corp. etc. here
News-ID: 2790689 • Views: …
More Releases from Extrapolate
ChatGPT: Your Secret Weapon for Dominating Search Rankings through AI-powered Co …
The ability to do efficient keyword research and content optimization is now essential for anyone looking to succeed online in the information-driven digital age. But fear not; ChatGPT is a formidable friend at our disposal. The way we approach keyword research and content creation is about to change due to this amazing language model that OpenAI created.
Let's look into how to use ChatGPT to improve content optimization tactics, and…
Lead Acid Battery Market Size is Set to Fly High Growth in Years to Come | Leoch …
Market Overview
Lead-acid batteries are the oldest type of rechargeable battery and are commonly used in a variety of applications, including automobiles, boats, uninterruptible power supplies (UPS), and backup power for telecommunications and computer systems.
These batteries consist of lead plates submerged in an electrolyte solution of sulfuric acid and water. During charging, electrical energy is converted into chemical energy, which is stored in the battery as lead sulfate. When the battery…
Onshore Wind Energy Market Size Focus on Emerging Technologies, Top Countries Da …
Market Overview
The Global Onshore Wind Energy Market Size was estimated at USD 554909.73 million in 2021 and is projected to reach USD 2356796.43 million by 2028, exhibiting a CAGR of 22.95% during the forecast period.
Onshore wind energy is a form of renewable energy that involves generating electricity by harnessing the power of wind on land. This is typically done using wind turbines, which convert the kinetic energy of the wind…
Vegetable Seeds Market is expected to witness a substantial growth of around USD …
The global Vegetable seeds market size was valued at approximately USD 8.72 billion in 2022 and is expected to witness a substantial growth of around USD 16.38 billion by 2032 at a CAGR of approximately 6.51% during the period from 2023 to 2032.The vegetable seeds market refers to the global trade of seeds used for growing different types of vegetables, including but not limited to tomatoes, onions, cucumbers, carrots, and…
More Releases for OTT
OTT Content Market
The emergence of the live streaming trend and virtual reality technology is a great opportunity for major players to develop innovative offerings in the OTT content market. An increase in the adoption of high speed broadband, along with the increasing demand for smartphones and smart televisions is contributing to the growth of the OTT content market. Players in the market are continuously upgrading their product portfolios to meet the increasing…
Over the Top (OTT) Content
Market Overview
The Global Over The Top (OTT) industry hit a significant mark in the year 2017. The sector was valued at $97.43 billion in the year 2017 and is expected to grow at a compound annual growth rate of 16.7% between the years 2018 to 2025. By the year 2025, the industry is expected to cross an astounding figure of $332.52 billion marks. The massive growth opportunities have excited investors…
Over the Top (OTT) Services Market - Reluctance of Customers to Spend on OTT Ser …
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…
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…
World OTT Video Market 2017 - Telecom Operators, Mobile Operators, Broadcasters, …
The study on OTT Video market presents a comprehensive overview of the global OTT Video market and delves into discussing the growth drivers, restraints, and potential opportunities. It provides an executive level blueprint on the market, with key focus on evaluating the market trends exhibited in the emerging regional markets. In a coherent chapter-wise format the report presents the historical data and statistics of the market and evaluates how the…
