Market Research Report
Over the Top (OTT) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025
|Published by||IMARC Services Private Limited||Product code||930551|
|Published||Content info||106 Pages
Delivery time: 2-3 business days
|Over the Top (OTT) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025|
|Published: March 12, 2020||Content info: 106 Pages||
The global Over the Top (OTT) market is currently witnessing strong growth. The OTT refers to the media service that facilitates the delivery of audio, video and digital media content over the internet. This content gets transmitted over various electronic devices, such as smartphones, smart televisions and other connected devices without requiring a multi-system operator for the distribution. This service offers unlimited data streaming and enables viewers to access content as per their convenience. Apart from this, OTT is also used for streaming music, live broadcasting, watching educational channels, advertising and communication.
The growing media and entertainment industry, along with the rising sales of smart computing devices across the globe, is one of the key factors driving the growth of the market. In line with this, widespread adoption of OTT services and high-quality streaming content over devices, such as smartphones, laptops, smart televisions, computers and tablets, is further contributing to the market growth. In comparison to the traditionally used cables and satellite television sets, devices offering OTT media services provide higher portability, convenience, accessibility and connectivity. Furthermore, the deployment of artificial intelligence (AI) by OTT service providers is also providing a boost to the market growth. Service providers are increasingly utilizing advanced technologies to analyze users' preferences and offer them customized content. This improves the overall experience of the user, thus favoring the adoption rates of OTT. Additionally, significant developments in the communication infrastructure and increasing penetration of high-speed internet across emerging nations, are also creating a positive outlook for the market. Other factors, including rapid urbanization, inflating disposable incomes and increasing consumer expenditure on entertainment and related services, along with extensive research and development (R&D) activities, are expected to drive the market in the upcoming years. Looking forward, IMARC Group expects the market to grow at a CAGR of 12% during 2020-2025.
The competitive landscape of the industry has also been examined with some of the key players being Amazon, Eros International, Google Inc., Hulu, IBM, Limelight Networks, Microsoft Corporation, Netflix, Nimbuzz, Star India, Tencent, Telstra, The Walt Disney Company, Yahoo!, etc.