The size of the worldwide over-the-top services market in 2020 was 38.77 billion USD. The COVID-19 pandemic's effects have been unprecedented and catastrophic on a global scale, with OTT services experiencing a surge in demand in every region. According to our data, the market grew significantly in 2020, by 13.9%, compared to the average annual increase between 2017 and 2019. The market is anticipated to increase at a CAGR of 17.7% between 2021 and 2028, rising from USD 44.54 billion in 2021 to USD 139.00 billion in 2028. When the pandemic is gone, this market's demand and growth rate will resume to pre-pandemic levels, explaining the change in CAGR.

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LIST OF KEY COMPANIES PROFILED:
• Amazon.com, Inc. (Washington, United States)
• Netflix, Inc. (California, United States)
• Hulu, LLC (California, United States)
• Google LLC (California, United States)
• Apple, Inc. (California, United States)
• Facebook, Inc. (California, United States)
• Telstra Corporation Ltd. (Melbourne, Australia)
• Rakuten, Inc. (Tokyo, Japan)
• Roku, Inc. (California, United States)
• Kakao Corp. (Jeju-si, South Korea)
• Vimeo Live (New York, United States)
• The Walt Disney Company (California, United States)
• Sling TV (Colorado, United States)
• AT&T TV (WarnerMedia HBO) (California, United States)
The media and communication services that users receive over an internet connection are known as over the top services. The market opportunities are expected to increase as a result of factors such as increasing internet usage, smart TV, smartphones, 5G infrastructure, original media content, and more. The market is projected to develop because to the rapid uptake of internet-based communication applications. The market is anticipated to benefit from a large increase in demand for online streaming content, including movies, live news, and sports, among others. For instance, Firstlight Media and the over-the-top service provider Struum worked together to launch a cloud-native streaming platform in January 2021. The goal of this partnership was to provide content from many platforms with a single Struum membership.
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Driving Factors Over The Top (OTT) Services Market
• Increasing internet penetration and affordability
• Growing demand for video content and streaming services
• Rising adoption of smart devices and connected TV
• Advancements in technology and multimedia
• Changing consumer behavior towards on-demand content
• Favorable government regulations and initiatives
• Increase in number of original content and partnerships
• Growing competition and expansion in emerging markets.

Regional Analysis:

In the market for over-the-top services, North America is anticipated to become the leading region. The market is constantly expanding because to the large finances and investments that are being made in the content development industry. For instance, the Telecom Advisory Services LLC predicted that in 2019, investments in TV and film programming would be made by Amazon.com, Inc. and Netflix, Inc. The U.S. is expected to control a large portion of the North American market. The region's market growth is being driven by recently launched platform providers in the U.S., including Peacock, Disney+, Quibi, Apple TV, HBO Max, and others.

The projection period is expected to see exponential growth in the Asia Pacific region. According to Capgemini's OTT Study Report, the region has more subscribers than the United States. The market expansion is probably being driven by the highly developed telecommunications and broadcasting industries. Due to the steadily declining pay-TV market, China is predicted to rule the region. India is about to see a remarkable platform expansion. This will probably increase the region's growth prospects.

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