Press release
Emerging Trends Influencing The Growth Of The OTT Streaming Market: Elevating The Viewing Experience The Proliferation Of 4K Television Streaming In The OTT Market
OTT Streaming
What Is the Projected Growth of the OTT Streaming Market?
The size of the OTT streaming market has seen rapid expansion in the past few years. It is slated to increase from $195.68 billion in 2024 to $224.55 billion in 2025, with a compound annual growth rate (CAGR) of 14.8%. Factors such as increased internet penetration and connectivity, changes in consumer viewing patterns, production of original content, surge in mobile device usage, and the prevalence of subscription and pricing models have contributed to the growth during the historic period.
The market size for OTT streaming is slated to experience a fast-paced expansion in the next few years. With a compound annual growth rate (CAGR) of 16.0%, it is projected to rise to $406.04 billion by 2029. This growth during the forecasted period is credited to several factors such as global reach of OTT services, incorporation with intelligent devices, the introduction of hybrid content patterns, live programs and event streaming, partnerships and content contracts. Some major trends expected during this period are hybrid and bundling services, infusion of artificial intelligence and customization, streaming of sports and esports events, options for offline viewership and streaming options backed by advertising.
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What Are the Different OTT Streaming Market Segments?
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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What Are the Primary Drivers Shaping the OTT Streaming Market?
The forecast period is expected to see a rapid expansion of OTT streaming, due to a significant shift in the consumers' social behavior. This change is moving from traditional subscriptions towards broadcasting services and further to OTT video and music subscriptions on an on-demand basis yearly. Seeing the added benefits like on-demand services and easy accessibility, diverse sections of society have begun to prefer video streaming services over conventional television for entertainment. For example, Netflix recorded a figure of 238.39 in Q2 of 2023, according to numbers provided by Demand Sage, a US-based software company. There was also a rise of 5.9 million global subscribers compared to the previous quarter. Therefore, an anticipated increase in the customer base is expected to propel the OTT streaming market's growth during the forecast period.
Which Companies Are Leading in the OTT Streaming Market?
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
What Trends Are Expected to Dominate the OTT Streaming Market in the Next 5 Years?
The adoption of 4K television streaming is a significant trend in the market for OTT streaming. Defined as Ultra-High Definition, or UHD, 4K relates to a resolution of about 3,840x 2,160 pixels, providing the highest grade of high-definition video quality currently available to the entertainment and sports sectors. Nowadays, the majority of new televisions have 4K capabilities, and despite their elevated costs, it's feasible to find a good 4K television for less than $1,000, or even $500. Mainstream streaming services such as Netflix, Disney+ and Amazon Prime Video have added high-quality 4K and 4K material to their offerings, while FuboTV has launched its first live-TV coverage in 4K with HDR. Initially, only World Cup games benefited from this enhanced visual quality, but NCAA football matches were added in 4K thereafter.
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What Are the Top Revenue-Generating Geographies in 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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the OTT Streaming Market?
2. What is the CAGR expected in the OTT Streaming Market?
3. What Are the Key Innovations Transforming the OTT Streaming Industry?
4. Which Region Is Leading the OTT Streaming Market?
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