Press release
Over-the-top Market (OTT) Market on Track to Hit $1,039.03 Billion by 2027, Growing at a CAGR of 29.4%
Rise in demand for OTT services in developing regions, increase of subscription video-on-demand (SVoD) services, availability of variety of content, surge in demand for live streaming channels, emergence of new OTT markets, and new developments in OTT technology are the factors that majorly boost the growth of the market. However, lack of data network infrastructure and latency issues are expected to hamper the OTT market growth.
๐๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ : https://www.alliedmarketresearch.com/request-sample/2230
Depending on device type, the smartphones segment dominated the overall OTT market share in 2019, and is expected to continue this trend during the forecast period. This is attributed to rising penetration of smartphones to stream OTT services and growing market for larger screen smartphones in the developing economies. In addition, the segment is expected to witness the highest CAGR during the forecast period due to ongoing gradual replacement of TVs with smartphones and mobile app streaming via OTT.
The subscription revenue model was the highest contributor to the global OTT market in 2019, and is projected to remain dominant during the forecast period, as the adoption of smartphones and tablets has increased considerably among the target consumers base for vendors that offer SVoD and video-on-demand (VoD) services. In addition, the availability of high-speed internet and smartphone applications have improved access to SVoD services. However, the advertisement revenue model is expected to witness highest growth due to rise in popularity of VoD ads. Moreover, ad-supported VoD platforms is currently experiencing strong growth in ad revenues, thereby making the advertisement-based revenue model popular amidst the COVID-19 pandemic. With five of the major ad-supported streaming platforms such as Hulu, Peacock, Roku, Pluto TV and Tubi, ad revenue reached 31% year-over-year in the second quarter of 2020.
Furthermore, the media & entertainment industry dominated the over-the-top market share in 2019, and is expected to remain dominant during the forecast period, due to rise in number of digital video consumers, which is expected to increase the demand of OTT services in the media & entertainment industry. However, the IT & telecom industry is expected to witness highest CAGR during the forecast period, due to rise in need for OTT services in the telecommunication industry for video calling, voice, and messaging services along with rapid adoption of work-from-home policy due to the lockdown enforcement by the government of every country.
๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ : https://www.alliedmarketresearch.com/over-the-top-services-market/purchase-options
Various industries around the globe are being severely affected by the COVID-19-induced recession; however, impact on the technology sector during the crisis was comparatively lesser than the rest of the economy. OTT subscriptions have observed a surge during the pandemic in terms of both time spent as well as newer audiences. Owing to this growing popularity of OTT platforms, various streaming service providers are observing growth in their subscriptions as well as revenue during the COVID-19 crisis. For instance, Netflix reached about 15.8 million paid subscribers in the January to March 2020 amid the pandemic, registering a profit of around $709 million on revenue of $5.8 billion during that period. Furthermore, largest media companies such as AT&T WarnerMedia, Disney, and Comcast-NBCUniversal are shifting their focus from traditional pay-TV ecosystem toward OTT service offerings. In addition, these companies have decided to reduce their future investments in it, and are planning to place most of their best content onto their OTT services, which is expected to make the over-the-top market competitive in nature and will positively impact the revenue generation through these services.
๐๐๐ฒ ๐ ๐ข๐ง๐๐ข๐ง๐ ๐ฌ ๐จ๐ ๐๐ก๐ ๐๐ญ๐ฎ๐๐ฒ
By component, the solution segment dominated the market. However, the services segment is expected to exhibit significant growth in the global OTT industry during the forecast period.
Depending on device type, the smartphone segment accounted for the highest revenue of OTT industry in 2019 and is expected to witness significant growth in the upcoming years.
On the basis of content type, the video segment generated the highest revenue in 2019, and is expected to witness significant growth in the upcoming years.
As per industry vertical, the media & entertainment industry generated the highest revenue of OTT market in 2019. However, IT & telecom industry is expected to witness highest growth rate in the forecast period.
Region wise, North America dominated the over-the-top industry in 2019. However, the Asia-Pacific is anticipated to exhibit substantial growth during the forecast period.
๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.alliedmarketresearch.com/purchase-enquiry/2230
Some of the key market players profiled in the report include Amazon Web Services (AWS), Netflix, Hulu, LLC, Google LLC, Apple Inc., Facebook, Telestra, Rakuten Inc., Microsoft Corporation, and Tencent Holdings Ltd. This study includes OTT market trends, over-the-top market size, over-the-top market analysis, and future estimations to determine the imminent investment pockets.
๐๐๐๐ ๐๐จ๐ซ๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ :
Network Slicing Market
https://www.alliedmarketresearch.com/network-slicing-market-A07916
Contact Center Software Market
https://www.alliedmarketresearch.com/contact-center-market
Online Smartphone and Tablet Games Market
https://www.alliedmarketresearch.com/online-smartphone-and-tablet-games-market
OSS and BSS Market
https://www.alliedmarketresearch.com/OSS-BSS-software-market
Integrated Workplace Management System (IWMS) Market
https://www.alliedmarketresearch.com/integrated-workplace-management-system-iwms-market-A07189
๐๐จ๐ง๐ญ๐๐๐ญ :
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
USA/Canada (Toll Free):
+1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-800-792-5285
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com
๐๐๐จ๐ฎ๐ญ ๐ฎ๐ฌ :
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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 Over-the-top Market (OTT) Market on Track to Hit $1,039.03 Billion by 2027, Growing at a CAGR of 29.4% here
News-ID: 3733283 • Views: โฆ
More Releases from Allied Market Research
Global Urinary Drainage Bags Market: Trends, Growth, and Insights to 2031
The global urinary drainage bags market is experiencing robust growth, with its market size valued at $1.4billion in 2021 and projected to reach $2billion by 2031. This expansion represents a compound annual growth rate (CAGR) of 3.8% from 2021 to 2031, highlighting the increasing demand for these essential medical devices.
Get a Sample Copy of this Report: https://www.alliedmarketresearch.com/request-sample/A17529
What Are Urinary Drainage Bags?
Urinary drainage bags are specialized medical devices designed to collectโฆ
Cream Powder Market to Reach $8.9 Billion by 2031 with 6.4% CAGR
The global cream powder industry was estimated at $4.8 billion in 2021 and is expected to hit $8.9 billion by 2031, registering a CAGR of 6.4% from 2022 to 2031.
The cream powder market is experiencing growth due to various factors, including the increasing popularity of bakeries and HoReCa (hotels, restaurants, and cafes) and rising consumer demand for natural products. The dairy-based segment is a significant contributor to the market's growthโฆ
Micro Drone Market Valued at $6.71 Billion in 2020, Expected to Reach $28.91 Bil โฆ
The global micro drone industry generated $6.71 billion in 2020, and is expected to reach $28.91 billion in 2030, witnessing a CAGR of 17.2% from 2021 to 2030. The report provides an extensive analysis of changing market dynamics, top segments, top investment pockets, regional landscape, value chain, and competitive scenario.
Increased operational efficiency and rise in demand for improved surveillance drive the growth of the global micro drone market. However, strictโฆ
Microwavable Foods Market to reach $230.93 billion by 2031, growing at a CAGR of โฆ
The global microwaveable foods industry was accounted for $120.45 billion in 2020, and is expected to reach $230.93 billion by 2031, growing at a CAGR of 5.6% from 2022 to 2031.
Rise in popularity of fast-food restaurants and large population base coupled with increase in number of quick-service restaurants drive the global microwaveable foods market. However, lack of awareness about microwavable foods hinders the market growth. On the contrary, rise inโฆ
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 increasingโฆ
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 investorsโฆ
Over the Top (OTT) Services Market - Reluctance of Customers to Spend on OTT Ser โฆ
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 playersโฆ
Global OTT Services Market: Rising Demand for Online and Cloud Services to Make โฆ
OTT services are delivered over internet service providerโs channel, however, they donโt have any involvement in the planning or provisioning of service. As these services are directly offered to consumers โover the topโ of internet service providerโs 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 riseโฆ
OTT Services Market: Rising Demand for Online and Cloud Services to Make OTT Ser โฆ
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 byโฆ
World OTT Video Market 2017 - Telecom Operators, Mobile Operators, Broadcasters, โฆ
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 theโฆ
