New York, NY -- (SBWIRE) -- 03/03/2021 -- The over-the-top (OTT) market is expected to grow from USD 40 billion in 2018 to USD 128 billion by 2026, at a CAGR of 14% during the forecast period. The rapid proliferation of smartphones and portable devices, very low or no cost of availing OTT services with a growing tendency towards original content and live video streaming is expected to drive the growth of OTT market. Other factors estimated to fuel the market growth are increasing use on internet, availability of high speed internet services, free trials of OTT services, upsurge in adoption of Cloud Media Processing, experimentation with new models for content monetization, consolidation and strategic partnership among competitors, high tendency to use social media and the upgrade the OTT services without the need to invest in infrastructure development.
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The leading companies operating across the global Over the top (OTT) market are listed below:
Apple Inc. (US), Facebook Inc. (US), Google Inc. (US), Akamai Technologies (US), Netflix (US), Amazon (US), Microsoft Corporation (US), Tencent Holdings Ltd. (China), Limelight Networks Inc. (US), Yahoo Inc. (US), and Nimbuzz (Netherlands), among other players.
Availability of substitute services of OTT services like video streaming by telecom operators, unlimited voice services with the advent of VoLTE technology, etc. as well as low awareness pertaining to the benefits provided by OTT services are expected to restrict the growth of OTT market.
Players will require increased investments to tackle these challenges and facilitate growth in the coming years. This report comprises drivers, restraints, opportunities, and challenges pertaining to the over-the-top market; and extensive value chain analysis, patent analysis, analysis of the current manufacturing capability and technology status, commercialization potential in different devices, along with market size forecasts till 2026.
Further key findings from the report suggest
The over-the-top (OTT) market is expected to grow from USD 40 billion in 2018 to USD 128 billion by 2026, at a CAGR of 14% during the forecast period.
Increase in penetration of smartphones has provided easy access to the OTT services over the internet, e., the user can use these services at any time and place, thereby playing a big role in market growth. Very low cost of availing OTT services with a growing tendency towards original content and live video streaming is expected to drive the growth of OTT market. Other factors estimated to fuel the market growth are increasing use on internet, availability of high speed internet services, free trials of OTT services, upsurge in adoption of Cloud Media Processing, experimentation with new models for content monetization, consolidation and strategic partnership among competitors, high tendency to use social media and the upgrade the OTT services without the need to invest in infrastructure development.
On the basis of the type of content, the market has been segmented into voice over IP, text On the basis of the type of content, the market has been segmented into voice over IP, text, and messages, and audio & video. The market for text and messages holds the largest market share with a market size of USD 18.4 billion 2018 and is projected to maintain its dominance during the forecast period due to the extensive use of social media across the globe.
On the basis of the platform, the market has been segmented into smart devices, laptops, and desktops, set-top boxes, and gaming consoles. Smartphones provide the benefit of widespread circulation of OTT services among the user. This makes the smartphone segment occupy the largest market share with a market size of USD 20.92 billion in 2018 and would continue to lead the market during the forecast period.
Based on the business model, the market segmentation are subscription, rental, advertising, in-app purchase/content, software licensing, unit pricing, and hardware.
On the basis of geography, the market has been segmented into North America, Europe, APAC, South America, Middle East, and North America owns the largest market share with a market size of USD 15.60 billion and would continue with its dominance during the forecast period owing to the immense adoption of over-the-top services in this region. APAC is estimated to have the highest growth rate due to the presence of a large prospective user base for OTT services.
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For this report, the market has been segmented on the basis of type of content, platform, business model and region:
Type of Content (Revenue, USD Million; 2018–2026)
Voice over IP
Text and Image
Audio and Video
Platform (Revenue, USD Million; 2018–2026)
Smart Devices
Laptops and Desktops
Set Top box
Gaming Consoles
Business Model (Revenue, USD Million; 2018–2026)
Subscription
Rental
Advertising
In-app purchase/content
Software Licensing
Unit Pricing
Hardware
Regional Outlook (Revenue, USD Million; 2018–2026)
North America
Europe
Asia Pacific
Rest of the World
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Table of contents
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018 - 2026
Chapter 3. Over The Top (OTT) Market Segmentation & Impact Analysis
3.1. Over The Top (OTT) Market Segmentation Analysis
3.2. Over The Top (OTT) Market Value Chain Analysis, 2017-2026
3.3. Over The Top (OTT) Market Impact Analysis
3.3.1. Market driver analysis
3.3.1.1. Rapid increase in the usage of Smart and Portable devices
3.3.1.2. Low cost for availing OTT services compared to cable operator services
3.3.1.3. Increasing use on Internet
3.3.1.4. Availability of high-speed internet services
3.3.1.5. Free trials of OTT services
3.3.1.6. Upsurge in adoption of Cloud Media Processing
3.3.1.7. Experimentation with new models for Content Monetization
3.3.1.8. Consolidation and Strategic Partnership
3.3.1.9. Increase in demand for original content, live video, and hybrid video streaming
3.3.1.10. High tendency to use Social media
3.3.1.11. Scalability of the OTT services
3.3.2. Market restraint analysis
3.3.2.1. Availability of substitute services
3.3.2.2. Low awareness regarding the benefits provided by OTT services
3.3.2.3. Security and privacy concerns
3.3.3. Market opportunities
3.3.3.1. New technological developments
3.3.3.2. Strategic alliances with telecom operators
3.3.4. Market Challenges
3.3.4.1. Stiff market competition
3.3.4.2. Lack of customization and local content
3.4. Industry analysis - Porter's Analysis
3.5. Over The Top (OTT) Market Competitive scenario, 2018
Chapter 4. Over The Top (OTT) Market by Type of Content (Insights & Trends)
4.1. Over The Top (OTT) Market share by Type of Content, 2019 & 2026
4.2. Voice over IP
4.3. Text and Image
4.4. Audio and Video
Continued…..
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