Over The Top Content (OTT) Market Revenue Growth Predicted by 2023
Posted by Akshay Solanki on January 4th, 2021
Over the top content refers to content delivery, applications and services over the internet that do not utilize traditional distribution methods. Services that utilize the OTT method also cost relatively less than traditional methods of distribution. Since OTT method of distribution uses the internet to deliver TV and film content like cable providers they use the network infrastructure that is maintained and owned by ISPs. This has caused a certain level of disruption for the traditional cable service providers because of the migration of consumer interest towards third-party firms that offer over-the-top applications.
According to a report by Market Research Future on Over the Top Content (OTT) Market Research Report- Global Forecast 2023 states that domain is expected to grow approximately by USD 87 Billion by 2023 at a 14% CAGR rate between 2017 and 2023. The introduction of OTT in content has allowed consumers to pay their cable company for internet access but discontinue their cable package to use faster and relatively inexpensive streaming content online. Due to the level of convenience offered and high popularity levels OTT is gaining higher levels of demand in both emerging as well as mature markets. The rise in its popularity levels have prompted various major OTT providers to direct their investments heavily towards international expansion. OTT providers also expect to gain large shares of revenue from ad supported OTT video outside USA in the coming years.
Though OTT subscribers are the smallest percentage of the market today, the market trends predict a rise in their numbers within a few years. One of the most important factor that is driving their growth are the number of pricing and viewing options offered, as they are not restricted to limited program options to choose from. However continual growth can be assured if the OTT providers implement agility, innovation, and an emphasis on customer satisfaction in their development plans. Other important driving factors include technology, payments and partnerships.
Device and delivery limitations coupled with bandwidth limitation challenges leading to concerns around quality of service are some of the factors that may cause limitations for the growth of this sector. With OTT market’s ability to offer content personalization to consumers on their devices will lead to staggering growth levels in the market.
Over The Top Content Market – Segments
Over-the-top content market can be segmented on the basis of following:
By Content Type: Voice Over IP, Texts & Images, Videos, Music Streaming
By Deployment Type: On Cloud, On Premise
By Device/Platform: Gaming Consoles, OTT Streaming Devices, Smartphones & Tablets, Smart TVs Others
By Geography: North America, Europe, Asia Pacific & Rest of World
Over The Top Content Market – Regional Analysis
The regional analysis of Over-The-Top Content Market is being studied for regions such as Asia Pacific, North America, Europe and Rest of the World. It has been observed that North America would dominate the over-the-top content market owing to factors such as high speed connectivity and presence of well-established content providers in that region.
Asia Pacific over-the-top content market is expected to show a positive growth over the forecast period owing to factors such as rise in OTT content providers.
Over The Top Content Market – Competitive Analysis
With the entry of new industry players in over-the-top content market segment, a trend of solid, volume-driven growth has been observed in the market with the addition of new and advanced content types in the segment. Companies are aiming to capture & solidify their share of the market segment, by competing and experimenting with various advantage points. The best long-term growth opportunities for this sector can be captured by ensuring quality content delivery and financial flexibility to invest in the optimal strategies. Effective planning is essential in terms of business development so as to gain maximum returns on investment.
Browse Full Report @ https://www.marketresearchfuture.com/reports/over-the-top-content-market-2912
The prominent players in over the top content market are – Apple, Inc. (U.S.), Facebook (U.S.), Google, Inc. (U.S.), Netflix, Inc. (U.S.), Tencent Holdings Limited (China), ActiveVideo Networks, Inc. (U.S.). Other important players in the market are Brightcove Inc. (Boston,USA), Hulu LLC. (Santa Monica), Microsoft Corporation (U.S.), Nimbuzz (Netherlands), Limelight Networks, Inc. (India), Roku, Inc. (USA), among others.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Like it? Share it!
About the AuthorAkshay Solanki
Joined: December 29th, 2020
Articles Posted: 475
More by this author