Global Over-the-top (OTT) market to garner $332.52 billion by 2025: AMR
Upsurge in demand for OTT and SVoD from developing countries, availability of variety of content, rise in demand for channels of live streaming, and advancements in OTT technologies drive the growth in the global OTT market. Asia-Pacific is expected to grow at the fastest CAGR of 20.8% from 2018 to 2025, owing to plans of bundling OTT services with data plans by telecommunication providers in the region.
Portland, OR, Sept. 18, 2019 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global over-the-top (OTT) market garnered $97.43 billion in 2017 and is estimated to garner $332.52 billion by 2025, growing at a CAGR of 16.7% from 2018 to 2025. The report provides a detailed analysis of changing market trends, key segments, top winning strategies, competitive analysis, and major market players.
Upsurge in demand for OTT and SVoD from developing countries, availability of variety of content, rise in demand for channels of live streaming, and advancements in OTT technologies drive the growth in the global OTT market. However, lack of infrastructure for data network and latency concerns hinder the market growth.
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Based on component, the solution segment garnered the highest share in 2017, accounting for more than three-fifths of the total share. This is due to rise in demand for innovative OTT solutions by the consumers for media sharing applications. However, the services segment is expected to register the fastest growth rate with a CAGR of 18.3% during the forecast period.
Based on device type, the smartphones segment accounted for nearly one-third of the total market in 2017 in terms of revenue. In addition, this segment is expected to grow at the fastest CAGR of 20.0% during the forecast period. The report also discusses segments such as smart TV's, gaming consoles, laptops desktops and tablets, set-top box, and others.
Based on content type, the video segment is expected to register the highest CAGR 18.3% during the forecast period. Moreover, this segment accounted for the largest share in 2017, holding more than one-third of the total share. The report offers an extensive analysis of other segments including audio/VoIP, communication, games, and others.
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Asia-Pacific is expected to grow at the fastest CAGR of 20.8% from 2018 to 2025, owing to plans of bundling OTT services with data plans by telecommunication providers in the region. However, North American region accounted for the largest share in 2017, contributing more than half of the total market share in terms of revenue. The report analyzes the market across Europe and LAMEA.
The report offers an extensive analysis of the major players including Netflix, Google LLC, Amazon Web Services (AWS), Facebook, Hulu, LLC, Rakuten Inc., Apple Inc., Tencent Holdings Ltd., Telstra, and Microsoft Corporation. These market players have implemented a number of strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their status in the industry.
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Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. 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.
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