Press release
Over the Top (OTT) Services Market to Observe Prominent CAGR of 15.66% , Market value would stand tall by USD 293.97 billion by 2029. Size, Share, Trends,Demand, Growth, Challenges and Competitive Outlook.
Surging availability of new and good content over the internet, growing awareness about new and existing video streaming services and platforms and surge in the proliferation of smartphones and high speed internet as a result of rapid globalization are the major factors attributable to the growth of the over the top (OTT) services market. Data Bridge Market Research analyses that the over the top (OTT) services market will exhibit a CAGR of 15.66% for the forecast period of 2022-2029. Therefore, the over the top (OTT) services market value would stand tall by USD 293.97 billion by 2029.
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Market Overview:
However, lack of skilled workforce and technological expertise in underdeveloped and developing economies will act as a growth restraint for the market. Also, high costs of availing and accessing the services will yet again hamper the market growth rate. Lack of strong infrastructural facilities in the backward economies and low quality of internet will also derail the market growth rate.
Some of the major players operating in the over the top (OTT) services market Google LLC, Apple Inc., Amazon.com, Inc., AT&T Intellectual Property., STAR., Twitter, Inc., Hulu, LLC, Comcast, BT, Cox Communications, Inc., Facebook, Verizon Media., TalkTalk TV Entertainment Limited., Deutsche Telekom AG, Akamai Technologies, Fandango, Snagfilms Inc., iNDIEFLIX Group Inc., Xperi., Crackle, Inc., and Brightcove Inc., among others.
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