Over-the-top (OTT) Market (14.4% CAGR) 2016 to 2023: Global Industry Size, Share, Growth, Trends and Forecast
December 12, 2019 by Johnson Paul
According to a new market research report published by Credence Research “Over-the-Top (OTT) Market — Growth, Share, Opportunities, Competitive Analysis and Forecast 2016–2023”, the global over-the-top (OTT) market was valued at US$ 28.75 Bn in 2015 and is estimated to expand with a CAGR of 14.4% from 2016 to 2023.
Over-the-top (OTT) refers to the delivery of audio, video or any other media content over the internet. Unlike the traditional distribution of television service, OTT eliminates the need for additional distribution or control of the content. The most significant USP of OTT content lies in the freedom of consumers to access any content based on their convenience. Over a period of time, OTT content has exponentially transformed various traditional services such as telephonic calls (through Skype), messaging (WhatsApp, Facebook Messenger) and video (Netflix, YouTube, etc.).
Browse Full Report Originally Published by Credence Research at https://www.credenceresearch.com/report/over-the-top-ott-market
Rising penetration of internet services is the prominent factor fueling the OTT market growth. A number of internet users across the globe have soared from a mere 16% (of the global population) in 2005 to more than 40% in 2015. This has greatly transformed the audio and video content services being delivered over the internet. People are now increasingly shifting towards OTT content (as a supplement) to the traditional television services. This has led to high demand for OTT content especially audio and video for the past few years. With the further rising number of internet users coupled with smart mobile devices, the OTT market is estimated to register robust growth during the forecast period. Nevertheless, poor network infrastructure, specifically in developing nations, is a major concern for market growth.
The global OTT market is product-driven and hence the market players compete on the basis of providing various services under a single platform. Although the concept of delivering media content over the internet is not new, the overall adoption is yet to become mature. Thus, OTT players are keen on discovering a larger consumer base so as to sustain in the competitive market. Another major area of the competition is providing HD content to consumers.
OTT market is majorly challenged by the traditional network and pay-TV operators. OTT content is accessed over the internet and hence the market growth substantially affects the mainstream revenue of network and pay-TV operators. Subsequently, the market comprises various regulations over voice and also video OTT content delivery. The various national government has enforced OTT content providers to obtain a license for operating in a particular country. This may slow down the market growth in the coming years.
Some of the major players profiled in the report are Apple, Inc., Netflix, Akamai Technologies, Inc., Microsoft Corporation, Google, Inc., Nimbuzz, Facebook, Inc., Yahoo, Inc. (Verizon Communications, Inc.) and Limelight Networks, Inc. among others.
You can get the sample copy of this research by Credence Research here: https://www.credenceresearch.com/sample-request/58018
Report Scope by Segments
By Platform Type
By End User Type
By Geography Segment