Over-The-Top (OTT) services are provided via the Internet, but they are not involved in the planning and delivery of the service. With the proliferation of smartphones and their compatibility with OTT applications, demand for these services is poised to grow exponentially in the coming years.
Over-The-Top Devices and Services Market Size Growth Rate:
According to the research report, Over-The-Top Devices and Services Market size was valued at USD 1,049.21 Billion in 2017 and this figure estimated to cross USD 3,538.04 Billion by the end of 2025, and it is growing at a CAGR of 16.4% during the forecast period 2018-2025.
Over-The-Top Devices and Services Market Drivers, Challenges and Opportunities:
Demand in the global OTT service market is expected to strengthen with the customization of technology in almost all sectors. The growing need for infrastructure and compliance, the growing application of OTT services on mobile devices and the growing demand for time-sensitive televisions could also help the market create growth opportunities in the coming years. Mobile operator's messaging revenues have already fallen sharply over the past five years and the impact of their voice revenue has also started to be felt. In addition, the number of cable cutters has increased due to on-demand multimedia content and reasonable rates compared to traditional cable operators.
It has been predicted that the international OTT market would be hampered by the low level of customer retention, customer reluctance to make purchases, the lack of procedures to limit or identify piracy, and increasing popularity free online video.
However, players could find lucrative opportunities based on the increasing use of digital rights management (DRM) in web browsers, the widespread adoption of real-time offers and the advent of streaming services video OTT services and platforms to provide more opportunities to their customers in an affordable way.
Over-The-Top Devices and Services Market Regional Analysis:
North America dominated the OTT market in 2017 and is expected to remain dominant throughout the 2017 to 2025 forecast period. The largest drivers of market growth in North America are the highest penetration of the mobile Internet compared to other regions, such as availability of Internet speeds of 13.1 Mbps to 14 Mbps in the United States and Canada. In addition to North America, the OTT market is expected to experience significant growth in Europe and Asia-Pacific during the forecast period.
Some of the promising companies leading the Over-The-Top Devices and Services Market:
- Amazon Inc.
- Twitter Inc
- Netflix, Inc
- Facebook, Inc.,
- Dropbox, Inc.
- Google, Inc.
- LinkedIn Corporation
- Skype (Microsoft Corporation)
- Apple, Inc.
- Evernote Corporation
- Hulu, LLC.
- Rakuten, Inc.
This research report includes following segmentation for the Over-The-Top Devices and Services Market size and forecast until 2025:
Over-The-Top Devices and Services Market – By Business Model:
- Premium and Subscriptions
Over-The-Top Devices and Services Market – By End-user:
Over-The-Top Devices and Services Market – By Geographical Segmentation:
- North America
- United Kingdom
- South Korea
- Latin America
- Middle-East & Africa