Press release
OTT Streaming Market Growth, Outlook, Overview And Forecast 2034
OTT Streaming
The shift in consumers' societal habits from conventional subscriptions towards broadcasting services and to over-the-top (OTT) video and music subscriptions every year has been increasing. It's predicted that OTT streaming will experience a rapid growth during the anticipated period. Different demographic groups are now favoring video streaming services over traditional television for entertainment because of added advantages like on-demand services and easy accessibility. For example, in 2023, Netflix, as reported by Demand Sage, a US Software company, reached a total of 238.39 by Q2 of 2023, and saw an increase of 5.9 million global subscribers compared to the previous quarter. Therefore, an expanded customer base is predicted to augment the expansion of the OTT streaming market over the forecast period.
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What is the future CAGR of the ott streaming market, and how will it impact industry expansion?
The Over-The-Top (OTT) streaming market has been on a swift uptick, increasing from $195.68 billion in 2024 to an expected $224.55 billion in 2025, boasting a compound annual growth rate (CAGR) of 14.8%. This impressive expansion during the historical period is largely due to factors such as increased internet access and connectivity, changes in consumer viewing preferences, production of original content, the widespread use of mobile devices, and the evolution of subscription and pricing models.
Anticipated to witness a swift expansion in the near future, the OTT streaming market is projected to reach a valuation of $406.04 billion by 2029, growing at a Compound Annual Growth Rate (CAGR) of 16.0%. The predicted growth during this projection period is likely a consequence of the worldwide proliferation of OTT services, their integration with smart devices, the rise of hybrid content models, streaming of live events, and various partnerships and content agreements. Novel trends forecasted for this period encompass hybrid and bundled services, AI integration and personalized content, streaming in the sports and esports sector, options for offline viewing, and ad-supported streaming options.
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What new trends are reshaping the ott streaming market and its opportunities?
One significant trend in the Over-The-Top (OTT) streaming market is the increase in streaming on 4K televisions. Commonly referred to as UHD or Ultra-High Definition, a 4K resolution is typically 3,840 x 2,160 pixels, marking the utmost level of high-definition video quality currently available to viewers of films, TV shows, and sports. While the majority of the latest TV models are compliant with 4K and can be quite pricey, it's possible to find a good 4K TV for under $1,000, and even under $500. Leading streaming platforms such as Netflix, Disney+, and Amazon Prime Video have now integrated premium 4K and 4K content into their offers. FuboTV has been a pioneer in this aspect, being the first to launch a live-TV that offers 4K HDR quality. Initially, this visual improvement was only used for World Cup games, but it was later extended to include certain NCAA football matches too.
What major market segments define the scope and growth of the ott streaming market?
The OTT streaming market covered in this report is segmented -
1) By Device Type: Smartphones, Smart TV's, Laptops, Desktops and Tablets, Gaming Consoles, Set-Top Box, Other Devices
2) By Revenue Source: AVOD, SVOD, TVOD, Other Revenue Sources
3) By User Type: Commercial, Personal
4) By End User: E-commerce, Media And Entertainment, Education And Training, IT And Telecom, Health And Fitness, Other End Users
Subsegments:
1) By Smartphones: Android Phones, IPhones
2) By Smart TVs: Android TVs, Roku TVs, Fire TVs
3) By Laptops: Windows Laptops, MacBooks, Chromebooks
4) By Desktops And Tablets: Windows Desktops, IMacs, IPads, Android Tablets
5) By Gaming Consoles: PlayStation, Xbox, Nintendo
6) By Set-Top Box: Roku, Apple TV, Amazon Fire TV
7) By Other Devices: Projectors, Streaming Sticks
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Which region dominates the ott streaming market?
Asia-Pacific was the largest region in the OTT market in 2024. Middle East is expected to be the fastest-growing region in the global OTT streaming market share during the forecast period. The regions covered in the OTT streaming market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Which key market leaders are driving the ott streaming industry growth?
Major companies operating in the OTT streaming market include Amazon.com Inc., Apple Inc., Alphabet Inc., Google LLC, Microsoft Corporation, AT&T Inc., The Walt Disney Company, Tencent Holdings Limited, Discovery Inc., Netflix Inc., Paramount Global, Disney DTC LLC, Sling TV LLC, ESPN Inc., Rakuten Inc., Telstra Corporation Limited, WarnerMedia LLC, Hulu LLC, Kakao Corporation, Lions Gate Entertainment Corp., Roku Inc., AMC Networks Inc., Peacock TV LLC, fuboTV Inc., ViacomCBS Pvt. Ltd., IndieFlix Group Inc., Philo Inc., Vudu Inc., BBC Studios and ITV plc, CuriosityStream Inc., Crunchyroll LLC, Funimation Global Group LLC, Kanopy Inc., MUBI Inc., Tubi Inc., Comcast Corporation, Zee Entertainment Enterprises Limited
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What Is Covered In The OTT Streaming Global Market Report?
•Market Size Forecast: Examine the ott streaming market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the ott streaming market for a structured understanding.
•Key Players Overview: Analyze major players in the ott streaming market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the ott streaming market.
•Segment Contributions: Evaluate how different segments drive overall growth in the ott streaming market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the ott streaming market.
•Industry Challenges: Identify potential risks and obstacles affecting the ott streaming market.
•Competitive Landscape: Review strategic developments in the ott streaming market, including expansions, agreements, and new product launches.
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