Over-the-top (OTT) Services Market to Sustain Growth Vigor with Impressive ROI in North America
Over-the-top services market is likely to sustain a healthy growth trail over the estimated growth timeframe, significantly favored by rising adoption of smart devices, as well as supplementary internet penetration which is also offering substantial tailwind support for an already fast growing market. A new report by Adroit Market Research included in its humongous online data archive explores vital development milestones in the industry and highlights crucial aspects of the market that influence optimistic growth prospects. These report insights are highly desirable to instrument unfaltering business discretion and futuristic investments in global over-the-top (OTT) services market.
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The global over-the-top services market size is anticipated to reach nearly USD 210 billion by 2025. In addition, it is expected to exhibit a CAGR of over 15% during the forecast period 2018-2025. Over the Top (OTT) service denotes any type of streaming of media or video which offers access to TV shows or movies directly over the internet to the viewers. The major providers of Over-the-Top service providers are Amazon Prime Video, Hulu, and Netflix. Some of the major features that OTT services provide are original content, premium content at low cost, and compatibility wide range of devices.
Pandemic to Ensure a Lucrative Growth Trajectory in the Near Future
Besides media and entertainment being a significant growth churner in OTT services growth chart, simultaneous adoption rates across education, e-retail, IT and cloud integration are poised to function in favor of OTT market expansion. The competitive landscape displays stark consolidation as big players are willing to invest in acquisitions to ensure value-addition and expansion.
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These developments are expected to ensure new opportunities for sustainable revenue pools. A significant presence of industry veterans across developed countries, more specifically North America is likely to bolster impressive growth prospects in global over-the-top (OTT) services market.
With the lingering COVID-19 pandemic affecting business abruptly who are struggling to trace back their previous growth track, the OTT market is experiencing a massive shift and frontline players are realigning their business models to cope with the sudden end-use adoption upsurge, significantly influenced by stringent social and physical distancing norms.
The major players of the global over-the-top services market are Amazon.com, Google, Microsoft, Apple, Roku, Netflix, YouTube, Facebook, Hulu, and Roku. Moreover, the other potential players in the over-the-top services market are Home Box Office, Indieflix, Tencent, Vudu, and Rakuten. The recognized companies are coming up with innovative and new over-the-top services and solutions. For instance, in September 2019, Apple announced the launch of Apple TV+ in India. Apple TV+ is an on-demand video subscription service that is available through the Apple TV app to the users at less than $2 per month.
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Segment Overview of Global Over-The-Top Services Market
Streaming Device Overview, 2018-2025 (USD Billion)
Smartphones
Personal Computer and Tablets
Smart TV
Gaming Consoles
Others
Content-Type Overview, 2018-2025 (USD Billion)
Video
Music
Gaming
Communication
Others
Revenue Model Overview, 2018-2025 (USD Billion)
Advertisement-Based
Subscription-Based
Transaction-Based
End Users Overview, 2018-2025 (USD Billion)
Gaming
Media and Entertainment
Education
IT & Telecom
Others
Regional Overview, 2018-2025 (USD Billion)
North America
U.S.
Canada
Europe
UK
Germany
France
Rest of Europe
Asia Pacific
China
Japan
India
Rest of Asia-Pacific
Middle East and Africa
UAE
South Africa
Rest of Middle East and Africa
South America
Brazil
Rest of South America
What does the report include?
The study on the global over-the-top services market includes qualitative factors such as drivers, restraints, and opportunities
The study covers the competitive landscape of existing/prospective players in the over-the-top services industry and their strategic initiatives for the product development
The study covers a qualitative and quantitative analysis of the market segmented based on streaming device, content type, revenue model, and end users. Moreover, the study provides similar information for the key geographies.
Actual market sizes and forecasts have been provided for all the above-mentioned segments.
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Some Major Points from TOC:
Chapter 1 Introduction
1.1 Introduction to the Study
1.2 Market Definition and Scope
1.3 Units, Currency, Conversions and Years Considered
1.4 Key Stakeholders
1.5 Key Questions Answered
Chapter 2 Research Methodology
2.1 Introduction
2.2 Data Capture Sources
2.2.1 Primary Sources
2.2.2 Secondary Sources
2.3 Market Size Estimation
2.4 Market Forecast
2.5 Data Triangulation
2.6 Assumptions and Limitations
Chapter 3 Executive Summary
Chapter 4 Market Outlook
Continue……
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