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Streaming Success: Over The Top Devices And Services Market Explodes with Demand and Key Growth Trends || Amazon.com Inc., Apple Inc., Alphabet Inc. Microsoft Corporation, The Walt Disney Company
Over The Top Devices And Services Global Market Report 2024
The Business Research Company offers in-depth market insights through Over The Top Devices And Services Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The over the top devices and services market size has grown exponentially in recent years. It will grow from $254.46 billion in 2023 to $315.42 billion in 2024 at a compound annual growth rate (CAGR) of 24.0%. The growth in the historic period can be attributed to proliferation of high-speed Internet, smartphone penetration, shift in consumer behavior, globalization of content, original content production.
The over the top devices and services market size is expected to see exponential growth in the next few years. It will grow to $751.48 billion in 2028 at a compound annual growth rate (CAGR) of 24.2%. The growth in the forecast period can be attributed to 5G network rollout, emergence of hybrid business models, integration with smart home ecosystems, rise in virtual and augmented reality content, regulatory developments. Major trends in the forecast period include global partnerships and expansion, technological advancements, global expansion and localization, integration of artificial intelligence (AI) and personalization, technological advancements and 5G impact.
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Market Segmentation:
The over the top devices market covered in this report is segmented -
1) By Content: VoIP, Text And Images, Video
2) By Revenue Source: Advertising video on demand (AVOD), Subscription video on demand (SVOD), Transactional based video on demand(TVOD)
3) By Deployment: On-Premise, Cloud
4) By Streaming Platform: Mobile Devices, Computers, Smart TVs and Set Tops, Gaming Consoles
Major Driver - Surging Ott Subscriptions Fueling Growth In Over-The-Top Devices And Services Market
The increasing number of OTT subscriptions is expected to propel the growth of the over the top devices and services market going forward. Over-the-top, or OTT, technology is a term for a method of streaming content over the internet. It is responsible for offering and making available programs used to broadcast on the cable TV provider, which customers paid for when they subscribed for it. All OTT platforms are subscription-based services that can be accessed from any internet-connected device and are frequently utilized because of their ease of use and availability of content. For instance, in June 2022, according to U-Screen U.S.A., Inc., an US-based software company, it was predicted that OTT media revenue would amount to $210 billion by 2026. This is roughly twice the amount of revenue that was generated in 2020 ($106 billion). In the US, 67% of consumers had a pay-TV subscription in 2021, and 82% of them had a video streaming subscription, with an average of 4 subscriptions. Therefore, the increasing number of OTT subscriptions is driving the growth of the over-the-top devices and services market.
Competitive Landscape:
Major companies operating in the over the top devices and services market report are Amazon.com Inc., Apple Inc., Alphabet Inc. Microsoft Corporation, The Walt Disney Company, Tencent Holdings Limited, Discovery Inc., Netflix Inc., ViacomCBS Inc., Sling TV, Tubi Inc. Hulu LLC, Twitter Inc., Roku Inc., EchoStar Corporation, fuboTV Inc., Pluto TV Peacock LLC, Sony Pictures Networks India Private Limited, HBO Max, Vimeo Inc. Disney+ Hotstar, Brightcove Inc., Haivision Inc., Rakuten Viki Inc. CuriosityStream Inc., Philo LLC, Kanopy Inc., Acorn TV Quibi Holdings LLC, Shudder LLC Bell Media Inc.
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Top Trend - Strategic Partnership Expands Access For Free Live Channels
Major companies operating in over the top devices and services market are adopting a strategic partnership approach to broadcast 180 live channels for free in India. Strategic partnership refers to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success. For instance, in October 2023, a US-based platform for streaming video content with free movies, TV shows, and documentaries announced a partnership with OTTplay, an India-based platform based on apps that offer bundled OTT subscriptions that would deliver DistroTV's 170+ free-to-watch, live streaming channels to OTTplay consumers in India. This collaboration demonstrates OTTPlay's dedication to providing users with the finest entertainment experience possible. OTTplay is convinced that customers will love the diverse material available on Distro TV, and they look forward to interacting with Distro TV to make it even more readily available and pleasant for viewers. This collaboration reaffirms DistroTV's dedication to presenting diverse, global perspectives to audiences worldwide, as well as OTTplay's commitment to assisting users in discovering new and intriguing content.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Over The Top Devices And Services Market Characteristics
3. Over The Top Devices And Services Market Trends And Strategies
4. Over The Top Devices And Services Market - Macro Economic Scenario
5. Over The Top Devices And Services Market Size And Growth
…..
27. Over The Top Devices And Services Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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