openPR Logo
Press release

At a CAGR of 14.56%, OTT Media Services Market to be Valued over USD299 Billion by 2028

01-11-2024 12:06 PM CET | Leisure, Entertainment, Miscellaneous

Press release from: TechSci Research Pvt Ltd

At a CAGR of 14.56%, OTT Media Services Market to be Valued over

"Increasing preference for smart devices, growing internet connectivity, and wide variety of content requirement form the consumers are expected to drive the growth of the Global OTT Media Services Market."

According to TechSci Research report, "OTT Media Services Market -Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028F". OTT media services market was valued USD 133.36 billion in 2022 and is predicted to grow at CAGR of 14.56% through 2028 on account of rising availability of 5G network, and variety of content versatility with combination of variety of regional languages among consumers

OTT platforms are those where users can stream a variety of video content directly through a website or application using the internet rather than a traditional cable or satellite connection. This includes web series, movies, live streaming, and other media content. Additionally, OTT platforms let users access premium content and stream video-on-demand services. The three types of OTT Video On Demand services are Subscription Video On Demand (SVOD), Advertisement Video On Demand (AVOD), and Transactional Video On Demand (TVOD). OTT platforms generate income through subscription- and advertisement-based business models.

The OTT platforms are witnessing increased demand with the increased adoption of new technologies. Live streaming will be one of the significant factor for the OTT space in 2023. Moreover, the launch of new content for viewing and marketing innovations such as attractive platform, launch of gaming channels on the OTT platform to keep engaging the customers engaged around that their respective platform change the market overview.

However, the additional features are also gaining popularity , for instance, the market is witnessing increased demand for shared viewing where an individual who isn't there in person can still enjoy content with others by participating in shared viewing. Each person's movie is synced through the use of apps like Netflix's Teleparty, Disney+ GroupWatch, and Prime Video Watch Party, and they can chat with one another in the sidebar. This kind of social viewing has become more prevalent.

Browse over XX market data Figures spread through 184 Pages and an in-depth TOC on "Global OTT Media Services Market"

https://www.techsciresearch.com/report/ott-media-services-market/14162.html

Additionally, the increasing use of mobile phones and other digital devices, which increases demand for OTT services. The use of smartphones and other consumer gadgets has increased across different regions. The utilization of high-speed broadband ranges is increasing. In densely populated locations, the need for over-the-top equipment and services has expanded as a result of growing investment in numerous wireless sectors. The need for over-the-top apps and services has grown. These factors include artificial intelligence, the internet of things, and 5G technology.

In terms of type, SVOD has dominated the market in 2021. Even in 2021, a year marked by maturity, the SVOD market continued to expand steadily. Growth in the segment is primarily driven by stacking, or more subscriptions, as new households are significantly increasing their service supply costs which was rarely witnessed in the earlier existing households. However, the price war (started by companies like Disney and HBO) has driven down the average cost per subscription despite price increases from a number of other major services. The market is anticipated to witness 2022 to be an eventful year as pricing strategies become more crucial in a market that is maturing.

The Global OTT Media Services Market is segmented into North America, Asia-Pacific, Europe, South America, the Middle East, and Africa in the regional analysis. The North America region dominated the global OTT media services market owing to the internet penetration level, and smart devices such as televisions, mobile phones, etc. However, due to the high penetration of smart devices and the widespread use of OTT across the region, the Asia-Pacific region is anticipated to experience a significant growth rate in the upcoming years. Moreover, significant market participants include nations like South Korea and India. For instance, the pandemic-driven trend of staying at home caused the OTT usage rate in South Korea to rise from 66.3% to 69.5%. Similar to this, India's OTT audience increased by 20% between 2021 and 2022. In India, there are 49 million subscribers to subscription video on demand (SVOD) in the year 2022.

Download Free Sample Report
https://www.techsciresearch.com/sample-report.aspx?cid=14162

"Customers can also request for 10% free customization on this report."

Key market players in the Global OTT Media Services Market include:

• Netflix, Inc.
• The Walt Disney Company
• Apple Inc.
• Amazon.com, Inc.
• Paramount Global
• Alphabet Inc. (YouTube)
• WarnerMedia Direct, LLC. (HBO Max)
• Sling TV L.L.C.
• Rakuten Group, Inc.
• Kakao Entertainment Co., Ltd.

The major firms are modifying their operation platform to maintain and boost revenue. To achieve this, businesses have begun focusing on providing an engaging platform to attract customers. As the users can be engaged in significant ways by creating visually appealing and interactive UI/UX designs, the companies are significantly working towards it. For instance, Netflix has developed an app that helps its users find the exact content they need. It debuted its Hindi user interface in august 2020 to make it easier for people in India and abroad to watch Hindi-language films and television programs. Even though the variety and quality of the content are crucial for attracting new viewers, the user interface is equally important for keeping viewers glued to the screen.

Furthermore, OTT media service players frequently working together to enhance the customers viewing experience with a variety of content and a better viewing, whether through acquisitions, partnerships, or other forms of collaboration. For instance, HBO Max and Amazon's Prime Video collaborated in 2022 to bring HBO-only shows to India.

"The global OTT media services market is expected to expand at a significant rate during the projected period owing to factors such as emerging economies, and competitive pricing drives the demand for the market. In addition to attract a considerable audience, variety of OTT media services offering platforms, including Amazon Prime, ESPN+, and Hulu, is propelling the global OTT media services market by featuring live sports streaming on their respective platforms. " said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

"OTT Media Services Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F, Segmented By Type (AVOD, SVOD, TVOD), By Device Type (Smart TVs & Set-Top Box, Mobile Devices & Computers/Laptops, Gaming Consoles & Streaming Devices), By Region, By Company", has evaluated the future growth potential of global OTT media services market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the global OTT media services market.

Download Free Sample Report
https://www.techsciresearch.com/sample-report.aspx?cid=14162

"Customers can also request for 10% free customization on this report."

Table of Contents:

1. Introduction
1.1. Market Overview
1.2. Key Highlights of the Report
1.3. Market Coverage
1.4. Market Segments Covered
1.5. Research Tenure Considered

2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Data Triangulation & Validation
2.6. Assumptions and Limitations

3. Executive Summary
3.1. Market Overview
3.2. Market Forecast
3.3. Key Regions
3.4. Key Segments

4. Voice of Customer Analysis (B2C Model Analysis)
4.1. Respondent Demographics
4.1.1. By Gender
4.1.2. By Age
4.1.3. By Occupation
4.2. Platform Preference
4.3. Factors Influencing Purchase Decision
4.4. Challenges Faced Post Purchase
4.5. Preferred Device to Watch OTT
4.6. Satisfaction Level

5. Global OTT Media Services Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Type Market Share Analysis (AVOD, SVOD, TVOD)
5.2.2. By Device Type Market Share Analysis (Smart TVs & Set-Top Box, Mobile Devices & Computers/Laptops, Gaming Consoles & Streaming Devices)
5.2.3. By Regional Market Share Analysis
5.2.4. By Company Market Share Analysis (2022)
5.3. Global OTT Media Services Market Mapping & Opportunity Assessment
5.3.1. By Type Market Mapping & Opportunity Assessment
5.3.2. By Device Type Market Mapping & Opportunity Assessment
5.3.3. By Regional Market Mapping & Opportunity Assessment …Conti..

Related Reports:

Global Mobile TV Market has valued at USD 12.0 billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 8.93% through 2028.

For more information:
https://www.techsciresearch.com/report/mobile-tv-market/20217.html

Global Pay TV Market has valued at USD 210.03 billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 2.33% through 2029.

For more information:
https://www.techsciresearch.com/report/pay-tv-market/21250.html

Global Podcast Advertising Market has valued at USD 11.01 billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 14.50% through 2029.

For more information:
https://www.techsciresearch.com/report/podcast-advertising-market/21257.html

Contact Us:

TechSci Research LLC
420 Lexington Avenue,
Suite 300, New York, NY,
United States, 10170
Phone No.: +13322586602
Email: sales@techsciresearch.com
Website: https://www.techsciresearch.com

About Us:

TechSci Research is a research-based management consulting firm providing market research and advisory solutions to its customers worldwide, spanning a range of industries. TechSci Research's core values are value, integrity, and insight. Led by a team of dynamic industry experts, TechSci Research provides its customers with high value market research and advisory services that helps them identify new market opportunities, growth engines and innovative ways to capture the market share. As a result, TechSci's client leads rather than follow market trends. Not bound by legacy, TechSci's cutting-edge research model leverages its decades of research knowledge and an increased use of technology as engines of innovation to deliver unique research value. Provided as an alternative to traditional market research, TechSci Research reports do not just deliver data and knowledge rather highlights the insights in a more usable and interactive format for its clients.

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 At a CAGR of 14.56%, OTT Media Services Market to be Valued over USD299 Billion by 2028 here

News-ID: 3349409 • Views:

More Releases from TechSci Research Pvt Ltd

India AI in Medical Diagnostics Market Future Outlook (2024-2030)
India AI in Medical Diagnostics Market Future Outlook (2024-2030)
India AI in Medical Diagnostics Market Outlook The India AI in Medical Diagnostics Market, valued at USD 12.87 million in 2024, is poised for significant growth, with a projected compound annual growth rate (CAGR) of 23.10% from 2020 to 2030, reaching an estimated USD 44.87 million by 2030. This robust expansion is driven by the increasing adoption of artificial intelligence (AI) solutions in healthcare, a rising demand for early and accurate
The Future of Robotic Healthcare Market in India
The Future of Robotic Healthcare Market in India
India Surgical Robotics Market Outlook The India Surgical Robotics Market, valued at USD 24.72 million in 2024, is on a trajectory of significant growth, projected to reach USD 44.91 million by 2030, driven by a robust compound annual growth rate (CAGR) of 10.42%. This expansion is underpinned by a confluence of factors, including the rising demand for minimally invasive surgeries, advancements in robotic technologies, and the rapid development of healthcare infrastructure
India Medical Lasers Market: Growth, Trends, and Challenges (2020-2030)
India Medical Lasers Market: Growth, Trends, and Challenges (2020-2030)
The India Medical Lasers Market is poised for significant growth, projected to expand at a compound annual growth rate (CAGR) of 12.90%, rising from USD 31.20 million in 2024 to USD 64.75 million by 2030. This robust growth is driven by increasing demand for minimally invasive procedures, a rising prevalence of chronic diseases, and supportive government initiatives such as Ayushman Bharat and Make in India. These programs are enhancing healthcare
India Pneumococcal Vaccine Market Report Outlook 2030 by TechSci Research
India Pneumococcal Vaccine Market Report Outlook 2030 by TechSci Research
Market Outlook: India Pneumococcal Vaccine Market The India pneumococcal vaccine market is projected to grow from USD 32.52 million in 2024 to USD 48.67 million by 2030, reflecting a CAGR of 6.91%. Growth is being driven by strong government initiatives, such as the inclusion of the Pneumococcal Conjugate Vaccine (PCV) in the Universal Immunization Programme (UIP), rising awareness about pneumonia-related mortality-especially in children-and enhanced local production by domestic manufacturers. Support from international

All 5 Releases


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