With the rising number of internet users worldwide, the demand for OTT content has risen substantially in the past few years. According to the International Telecommunication Union (ITU), the number of internet users accounted for over 16% of the global population in 2005 and has risen to over 40%, as of 2014. Due to rising advancement and penetration of smart mobile devices such as smartphones, tablets and consumer electronics such as smart televisions, the OTT market has flourished significantly in the recent years. With the further increase in internet users, the OTT market is set to only rise during the forecast period.
OTT refers to content (voice/video/other media) delivered to consumers over the internet. The most significant factor fueling the market growth is the convenience to the consumers offered by OTT content delivery service. Consumers can access the content anytime, anywhere as per their convenience through their mobile devices as well as desktops or smart televisions.
Improving internet infrastructure is another major factor bolstering market growth. Due to advancement in the smart mobile devices, the OTT content has become highly popular over the period of time. Thus, the OTT market is estimated to register strong growth worldwide during the forecast period. Nevertheless, increasing government regulations related to operating license may significantly hamper the market growth in the coming years.
The report titled “Global Over-the-Top (OTT) Market- Growth, Share, Opportunities and Competitive Analysis, 2023 – 2030” offers strategic insights into the global OTT market along with the market size and estimates for the duration 2020 to 2030. The said research study covers in-depth analysis of multiple market segments based on content type, end-user types and cross-sectional study across different geographies and sub-geographical regions. The study covers the comparative analysis of different segments for the years 2020 & 2030. The report also provides a prolific view on market dynamics such as market drivers, restraints & opportunities, and section focusing on consumer behavior analysis.
In order to help strategic decision makers, the report also includes competitive profiling of the leading OTT service vendors, their SCOT (Strength, Challenges, Opportunities and Weaknesses) analysis, market positioning and key developments. 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. Other in-depth analysis provided in the report includes:
Overall, the research study provides a holistic view of the global OTT market, offering market size and estimates for the period from 2023 to 2030, keeping in mind the above-mentioned factors.
The overall OTT market is dominated by the mobile devices & desktops segment contributing to more than fifty percent of the total revenue generated worldwide. The segment growth is majorly governed by the high penetration of mobile devices such as smartphones, laptops, and tablets across the world. With the further advancement in mobile devices, the segment is estimated to retain its dominant position in the market throughout the forecast period.
Smart television and set-top boxes segment is projected to witness significant growth in the coming years. Similarly, gaming consoles segment too is estimated to register strong growth in the market during the forecast period. The growth of these segments is majorly attributed to increasing penetration of smart television and gaming consoles worldwide.
As of 2020, the overall OTT market is led by the commercial enterprises segment accounting for more than one-third of the global market revenue. The segment comprises media & entertainment, IT & telecommunication enterprises and retail among others. The segment growth is majorly backed by the media & entertainment segment, majorly due to prolonged adoption of OTT content service in the segment. The commercial enterprises segment is estimated to retain its dominant position in the market throughout the forecast period.
The residential segment is projected to witness the highest growth in the overall OTT market during the forecast period. The segment growth can be directly related to the number of internet users worldwide. Due to ongoing efforts by the market players towards enhancement of OTT content and service, many people are adopting OTT content for voice, video and other media. In addition, due to improving internet infrastructure coupled with the proliferation of smart mobile devices, the segment is predicted to register high growth during the forecast period.
North America, currently, account for the largest share, in terms of revenue and adoption, of the global OTT market. The region contributed to over 30% of the total revenue generated worldwide, as of 2020. The high revenue share of North America is due to high penetration of internet services across the U.S. and Canada. Consequently, the region is estimated to hold strong position in the market throughout the forecast period.
Asia Pacific is estimated to register the highest growth in the OTT market in the coming years. The market here is majorly driven by the large consumer base across India, China, Japan, South Korea and some of the Southeast Asia countries. Internet infrastructure in countries such as China and India is undergoing substantial transformation thereby supporting the OTT market growth. This may result in Asia Pacific surpassing the North America OTT market over the period of time.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Over-the-Top (OTT) market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Billion |
| Segmentation | |
Content
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End-user
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Platform
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Region Segment (2022-2032; US$ Billion)
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Key questions answered in this report
