[300 Pages Report] The global over the top (OTT) services market garnered US$ 1.8 Trillion in 2021 and is likely to exhibit a Y-o-Y increase of 16% to be valued at US$ 2.1 Trillion in 2022. Owing to the increasing advancement in technology, the market is likely to propel to US$ 7.0 Trillion by 2032. The trade is projected at a 12.6% CAGR during the forecast period.
A rising digital subscriber base, demand for digital content, and an increase in demand for live-streaming channels, and digital advertising., will benefit the market in the forecast period.
| Attributes | Details |
|---|---|
| Global Over the Top (OTT) Services Market CAGR (2022 to 2032) | 12.6% |
| Global Over the top (OTT) Services Market (2032) | US$ 7.0 Trillion |
| Global Over the top (OTT) Services Market Attraction | Increasing adoption of internet-based communication applications is expected to drive the growth of the market in the forecast period. |
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Increasing use of Smart Devices and Broadband is propelling Market Growth
The number of smartphone subscriptions worldwide today has surpassed six billion. By simply connecting the smart devices to the subscribed OTT services viewers receive access to content anytime, anywhere, and on their preferred device. Mobile now days are the most popular service channel for many service media platforms.
The increasing popularity of drama series and video games on gaming platforms is also significantly increasing the growth of the over-the-top (OTT) market.
An increase in broadband penetration is the main factor driving the growth of the over the top (OTT) services. High-speed broadband internet access resulted in an increased number of internet users and their access to over the top (OTT) content such as video, music streaming, and VoIP. This will boost the demand for over the top (OTT) content and lead to the expansion of the global over the top (OTT) market.
New advancements in technologies and untapped potential in emerging markets may offer favourable growth opportunities for the further growth of the global over the top (OTT) services market.
Technological Advancements to boost the growth of Over the Top (OTT) Services Uptake
Technology plays a critical role in augmenting the importance of over the top (OTT) services across the globe. Over the top (OTT) systems are easy to use due to features such as cloud-based streaming services, support for live content with Video-on-demand (VOD), a vast content repository, zero-buffering, adaptive bitrate streaming, and intuitive content discovery.
Today’s audience didn’t want to be restricted by timing instead they want to access it at any time and from anywhere, which will increase the demand for over the top services.
For instance, Disney+ uses technology to offer bundled packs with ESPN (in the US) to consumers. This offers them content from more than just one OTT provider. Also, the next generation network 5G is expected to become the norm in many urban countries which will provide faster and more reliable internet speed 5G’s super quick streaming will allow video consumption of super quality and consumers expect more streaming solutions because of this.
The presence of stringent rules and regulations of the Ministry of Electronics and Information Technology (Meity) regarding streaming content on over the top (OTT) services is expected to be the key factor hampering the market growth in the forecast period.
Also, expenses associated with Over the top (OTT) services are likely to discourage the entrance of new players into the market, thereby, limiting market growth. Moreover, the availability of low-cost alternatives like satellite or cable-based programs is speculated to hinder trade growth during the forecast period.
Also, the lack of skilled professional and technological experts in developed and underdeveloped countries will lead to restrain the growth of the market. Also, high costs related to accessing and availing of the services will yet again hamper the market growth rate. One more factor affecting the growth of the market is the strong infrastructure facility and low quality of internet service as image and audio quality get affected depending on the internet connection.
Retaining the viewer base is a major challenge faced by over the top (OTT) platforms the major reasons viewers move away from certain content are intrusive promotional content and low video quality so it is important to address these issues to increase viewer retention.
Principal Consultant
As per the analysis, the media and entertainment sector is anticipated to hold remunerative opportunities for the global over the top (OTT) services market. Increasing the use of smart connecting devices such as smartphones, laptops, and tablets and their compatibility with OTT applications the demand for over the top services will rise exponentially in the coming years.
Over the top (OTT) services emerged as a most popular mode of entertainment especially among the young population, as watching series and content is a new nascent trend this will lead to the availability of key over the top (OTT) services.
Also, the 5G infrastructure and original media content are set to boost the opportunity of the market. Day by day increasing demand for online streaming content such as movies, live news, TV shows, and sports among others is expected to increase the growth of the market.
For instance, in 2021 January First light media collaborated with Struum to deploy a new cloud-native streaming program. This collaboration offers multiple platforms content using struum subscription. Also, the expansion of the media and entertainment industry, rising industrialization, and surging access to social media, and multimedia services are some other factors boosting the growth of the market.
The E-services segment is expected to flourish owing to the increasing demand for over the top (OTT) service-based platforms across the globe. As per the analysis, by application, the e-services segment is likely to expand at a CAGR of 14.2 % during the forecast period.
E-learning, e-health, e-commerce, and e-business all these e-services account for high revenue in the top (OTT) services market generating a revenue of 830.2 Billion in 2021. The E-services segment is projected to witness significant demand in the coming time. Also, media content and cloud services are expected to produce high revenue in the forecasting period as quick content is available through high-speed internet.
By business model, the premium and subscription segment is projected to record a 13.1% CAGR in the forecast period. The segment is projected to garner a larger market share in the coming time. The growth in revenue of over the top (OTT) services can be attributed to the growing revenue of the premium and subscription segments.
Premium and subscriptions are used by many customers all over the world. On the other hand, the Adware segment is expected to record significant growth in revenue through advertisement on OTT applications, this will also contribute to the growth of the market. whereas the e-commerce business model earns by selling its own product and services.
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North America is anticipated to lead the global over the top (OTT) services market during the forecast period. The market is likely to garner US$ 2.5 Trillion while exhibiting a CAGR of 12.6% from 2022 to 2032. Owing to the high demand of over the top (OTT) services in the USA and Canada North America dominates the over the top (OTT) services market. The rapid development of the region can be attributed to the increasing penetration of high-speed internet and the usage of smartphones in the region.
The increasing substantial fund and investment in the content creation sector are anticipated to propel the industry in the forecast period. For instance, as per telecom advisory services LLC, Amazon.com, Inc., and Netflix, Inc. were expected to invest in TV shows and programming. Peacock, Disney+, Quibi, AppleTV, HBO Max, and others are some of the newly entered platform providers that are driving the growth of the market.
APAC is anticipated to be the fastest-growing region during the forecast period. China is likely to make the most significant contribution to developing the market. China is estimated at US$ 322.7 Billion, expanding at a 13.6% CAGR during the forecast period. The growth of the market can be attributed to the presence of evolving countries such as; India, China, Japan, and others. Japan is estimated at US$ 114.9 Billion in 2032, growing at a 9.0% CAGR.
In addition, Germany has been recognized as another potent player in the region. According to the analysis, the country is anticipated at US$ 382.4 Billion while recording a CAGR of 14.4% in the forecast period. The development of the regional market can be credited to the rapid development in the concerned field. UK is estimated to accrue US$ 290.2 Billion. The growth rate UK is estimated at 10.4% from 2022 to 2032.
| Countries | Estimated CAGR |
|---|---|
| USA | 12.7% |
| UK | 10.4% |
| China | 13.6% |
| Japan | 9.0% |
| Germany | 14.4% |
Eminent players in the global over the top (OTT) services market include Twitter Inc., LinkedIn Corp., Netflix Inc, Amazon Inc., and Apple, Inc. among others.
Recent key developments among players include:
The Global Over the Top (OTT) Services Market is likely to value US$ 1.8 Trillion in 2021.
The Global Over the Top (OTT) Services Market is estimated to grow at a CAGR of 12.6% from 2022 to 2032.
The Global Over the Top (OTT) Services Market is predicted to procure a market value of US$ 7.0 Trillion by 2032.
The e-services segment is projected to expand at an 14.2% CAGR during the forecast period.
The premium and subscription segment is likely to exhibit a 13.1% CAGR from 2022 to 2032.
The USA market is expected to garner US$ 2.5 Trillion while expanding at a 12.7% CAGR from 2022 to 2032
1. Preface | Over the Top (OTT) Services Market
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary: Global Market
4. Market Overview
4.1. Introduction
4.1.1. Definitions
4.1.2. Industry Evolution / Development
4.2. Global Market Overview
4.3. Key Market Indicators
4.4. Market Dynamics
4.4.1. Drivers
4.4.2. Restraints
4.4.3. Opportunity
4.5. Global Market Analysis and Forecasts, 2022 to 2032
4.5.1. Market Revenue Projections (US$ Billion)
4.6. Porter’s Five Force Analysis
4.7. Ecosystem Analysis
4.8. Market Outlook
5. Global Market Analysis and Forecasts, By Business Model
5.1. Introduction & Definition
5.2. Key Findings / Developments
5.3. Key Trends
5.4. Market Size (US$ Billion) Forecast By Business Model 2022 to 2032 (US$ Billion)
5.4.1. Premium and Subscriptions
5.4.2. Adware
5.4.3. E-commerce
5.5. Business Model Comparison Matrix
5.6. Market Attractiveness By Business Model
6. Global Market Analysis and Forecasts, By Application
6.1. Introduction & Definition
6.2. Key Findings / Developments
6.3. Key Trends
6.4. Market Size (US$ Billion) Forecast By Application 2022 to 2032 (US$ Billion)
6.4.1. Communication
6.4.2. E-Services
6.4.3. Media Content
6.4.3.1. Audio/Video
6.4.3.2. Gaming
6.4.3.3. Web Content
6.4.4. Cloud Services
6.5. Application Comparison Matrix
6.6. Market Attractiveness By Application
7. Global Market Analysis and Forecasts, By End-use Vertical
7.1. Introduction & Definition
7.2. Key Findings / Developments
7.3. Key Trends
7.4. Market Size (US$ Billion) Forecast By End-use Vertical, 2022 to 2032 (US$ Billion)
7.4.1. Personal
7.4.2. Commercial
7.4.2.1. Healthcare
7.4.2.2. Media and Entertainment
7.4.2.3. E-commerce
7.4.2.4. IT
7.4.2.5. Education
7.4.2.6. Others (Manufacturing, Energy, and Transportation)
7.5. End-use Vertical Comparison Matrix
7.6. Market Attractiveness By End-use Vertical
8. Global Market Analysis and Forecasts, By Region
8.1. Key Findings
8.2. Market Size (US$ Billion) Forecast By Region, 2022 to 2032 (US$ Billion)
8.2.1. North America
8.2.2. Europe
8.2.3. Asia Pacific
8.2.4. Middle East and Africa
8.2.5. South America
8.3. Market Attractiveness By Country/Region
9. North America Market Analysis and Forecast
9.1. Key Findings
9.2. Key Trends
9.3. Market Size (US$ Billion) Forecast By Business Model, 2022 to 2032 (US$ Billion)
9.3.1. Premium and Subscriptions
9.3.2. Adware
9.3.3. E-commerce
9.4. Market Size (US$ Billion) Forecast By Application 2022 to 2032 (US$ Billion)
9.4.1. Communication
9.4.2. E-Services
9.4.3. Media Content
9.4.3.1. Audio/Video
9.4.3.2. Gaming
9.4.3.3. Web Content
9.4.4. Cloud Services
9.5. Market Size (US$ Billion) Forecast By End-use Vertical, 2022 to 2032 (US$ Billion)
9.5.1. Personal
9.5.2. Commercial
9.5.2.1. Healthcare
9.5.2.2. Media and Entertainment
9.5.2.3. E-commerce
9.5.2.4. IT
9.5.2.5. Education
9.5.2.6. Others (Manufacturing, Energy, and Transportation)
9.6. Market Size (US$ Billion) Forecast By Country, 2022 to 2032 (US$ Billion)
9.6.1. The USA
9.6.2. Canada
9.6.3. Rest of North America
9.7. Market Attractiveness Analysis
9.7.1. By Country
9.7.2. By Business Model
9.7.3. By Application
9.7.4. By End-use Vertical
10. Europe Market Analysis and Forecast
10.1. Key Findings
10.2. Key Trends
10.3. Market Size (US$ Billion) Forecast By Business Model, 2022 to 2032 (US$ Billion)
10.3.1. Premium and Subscriptions
10.3.2. Adware
10.3.3. E-commerce
10.4. Market Size (US$ Billion) Forecast By Application 2022 to 2032 (US$ Billion)
10.4.1. Communication
10.4.2. E-Services
10.4.3. Media Content
10.4.3.1. Audio/Video
10.4.3.2. Gaming
10.4.3.3. Web Content
10.4.4. Cloud Services
10.5. Market Size (US$ Billion) Forecast By End-use Vertical, 2022 to 2032 (US$ Billion)
10.5.1. Personal
10.5.2. Commercial
10.5.2.1. Healthcare
10.5.2.2. Media and Entertainment
10.5.2.3. IT
10.5.2.4. Education
10.5.2.5. Others (Manufacturing, Energy, and Transportation)
10.6. Market Size (US$ Billion) Forecast By Country, 2022 to 2032 (US$ Billion)
10.6.1. Germany
10.6.2. France
10.6.3. The UK
10.6.4. Rest of Europe
10.7. Market Attractiveness Analysis
10.7.1. By Country
10.7.2. By Business Model
10.7.3. By Application
10.7.4. By End-use Vertical
11. Asia Pacific Market Analysis and Forecast
11.1. Key Findings
11.2. Key Trends
11.3. Market Size (US$ Billion) Forecast By Business Model, 2022 to 2032 (US$ Billion)
11.3.1. Premium and Subscriptions
11.3.2. Adware
11.3.3. E-commerce
11.4. Market Size (US$ Billion) Forecast By Application 2022 to 2032 (US$ Billion)
11.4.1. Communication
11.4.2. E-Services
11.4.3. Media Content
11.4.3.1. Audio/Video
11.4.3.2. Gaming
11.4.3.3. Web Content
11.4.4. Cloud Services
11.5. Market Size (US$ Billion) Forecast By End-use Vertical, 2022 to 2032 (US$ Billion)
11.5.1. Personal
11.5.2. Commercial
11.5.2.1. Healthcare
11.5.2.2. Media and Entertainment
11.5.2.3. E-commerce
11.5.2.4. IT
11.5.2.5. Education
11.5.2.6. Others (Manufacturing, Energy, and Transportation)
11.6. Market Size (US$ Billion) Forecast By Country, 2022 to 2032 (US$ Billion)
11.6.1. China
11.6.2. Japan
11.6.3. Rest of Asia Pacific
11.7. Market Attractiveness Analysis
11.7.1. By Country
11.7.2. By Business Model
11.7.3. By Application
11.7.4. By End-use Vertical
12. Middle East and Africa Market Analysis and Forecast
12.1. Key Findings
12.2. Key Trends
12.3. Market Size (US$ Billion) Forecast By Business Model, 2022 to 2032 (US$ Billion)
12.3.1. Premium and Subscriptions
12.3.2. Adware
12.3.3. E-commerce
12.4. Market Size (US$ Billion) Forecast By Application 2022 to 2032 (US$ Billion)
12.4.1. Communication
12.4.2. E-Services
12.4.3. Media Content
12.4.3.1. Audio/Video
12.4.3.2. Gaming
12.4.3.3. Web Content
12.4.4. Cloud Services
12.5. Market Size (US$ Billion) Forecast By End-use Vertical, 2022 to 2032 (US$ Billion)
12.5.1. Personal
12.5.2. Commercial
12.5.2.1. Healthcare
12.5.2.2. Media and Entertainment
12.5.2.3. E-commerce
12.5.2.4. IT
12.5.2.5. Education
12.5.2.6. Others (Manufacturing, Energy, and Transportation)
12.6. Market Size (US$ Billion) Forecast By Country, 2022 to 2032 (US$ Billion)
12.6.1. GCC Countries
12.6.2. South Africa
12.6.3. Rest of MEA
12.7. Market Attractiveness Analysis
12.7.1. By Country
12.7.2. By Business Model
12.7.3. By Application
12.7.4. By End-use Vertical
13. South America Market Analysis and Forecast
13.1. Key Findings
13.2. Key Trends
13.3. Market Size (US$ Billion) Forecast By Business Model, 2022 to 2032 (US$ Billion)
13.3.1. Premium and Subscriptions
13.3.2. Adware
13.3.3. E-commerce
13.4. Market Size (US$ Billion) Forecast By Application 2022 to 2032 (US$ Billion)
13.4.1. Communication
13.4.2. E-Services
13.4.3. Media Content
13.4.3.1. Audio/Video
13.4.3.2. Gaming
13.4.3.3. Web Content
13.4.4. Cloud Services
13.5. Market Size (US$ Billion) Forecast By End-use Vertical, 2022 to 2032 (US$ Billion)
13.5.1. Personal
13.5.2. Commercial
13.5.2.1. Healthcare
13.5.2.2. Media and Entertainment
13.5.2.3. E-commerce
13.5.2.4. IT
13.5.2.5. Education
13.5.2.6. Others (Manufacturing, Energy, and Transportation)
13.6. Market Size (US$ Billion) Forecast By Country, 2022 to 2032 (US$ Billion)
13.6.1. Brazil
13.6.2. Rest of South America
13.7. Market Attractiveness Analysis
13.7.1. By Country
13.7.2. By Business Model
13.7.3. By Application
13.7.4. By End-use Vertical
14. Competition Landscape
14.1. Market Player - Competition Matrix (By Tier and Size of Companies)
14.2. Market Share Analysis By Company (2021)
14.3. Company Profiles (Details - Overview, Financials, Recent Developments, Strategy)
14.3.1. Players
14.3.1.1. Meta Platforms, Inc.
14.3.1.1.1. Company Details (HQ, Foundation Year, Revenue, Employee Strength)
14.3.1.1.2. Company Description
14.3.1.1.3. SWOT Analysis
14.3.1.1.4. Strategic Overview
14.3.1.2. Twitter Inc.
14.3.1.2.1. Company Details (HQ, Foundation Year, Revenue, Employee Strength)
14.3.1.2.2. Company Description
14.3.1.2.3. SWOT Analysis
14.3.1.2.4. Strategic Overview
14.3.1.3. LinkedIn Corp.
14.3.1.3.1. Company Details (HQ, Foundation Year, Revenue, Employee Strength)
14.3.1.3.2. Company Description
14.3.1.3.3. SWOT Analysis
14.3.1.3.4. Strategic Overview
14.3.1.4. Netflix, Inc.
14.3.1.4.1. Company Details (HQ, Foundation Year, Revenue, Employee Strength)
14.3.1.4.2. Company Description
14.3.1.4.3. SWOT Analysis
14.3.1.4.4. Strategic Overview
14.3.1.5. Alphabet Inc
14.3.1.5.1. Company Details (HQ, Foundation Year, Revenue, Employee Strength)
14.3.1.5.2. Company Description
14.3.1.5.3. SWOT Analysis
14.3.1.5.4. Strategic Overview
14.3.1.6. Skype (Microsoft Corporation)
14.3.1.6.1. Company Details (HQ, Foundation Year, Revenue, Employee Strength)
14.3.1.6.2. Company Description
14.3.1.6.3. SWOT Analysis
14.3.1.6.4. Strategic Overview
14.3.1.7. Amazon Inc.
14.3.1.7.1. Company Details (HQ, Foundation Year, Revenue, Employee Strength)
14.3.1.7.2. Company Description
14.3.1.7.3. SWOT Analysis
14.3.1.7.4. Strategic Overview
14.3.1.8. Apple, Inc.
14.3.1.8.1. Company Details (HQ, Foundation Year, Revenue, Employee Strength)
14.3.1.8.2. Company Description
14.3.1.8.3. SWOT Analysis
14.3.1.8.4. Strategic Overview
14.3.1.9. Rakuten, Inc.
14.3.1.9.1. Company Details (HQ, Foundation Year, Revenue, Employee Strength)
14.3.1.9.2. Company Description
14.3.1.9.3. SWOT Analysis
14.3.1.9.4. Strategic Overview
14.3.1.10. Evernote Corporation
14.3.1.10.1. Company Details (HQ, Foundation Year, Revenue, Employee Strength)
14.3.1.10.2. Company Description
14.3.1.10.3. SWOT Analysis
14.3.1.10.4. Strategic Overview
14.3.1.11. Dropbox, Inc.
14.3.1.11.1. Company Details (HQ, Foundation Year, Revenue, Employee Strength)
14.3.1.11.2. Company Description
14.3.1.11.3. SWOT Analysis
14.3.1.11.4. Strategic Overview
14.3.1.12. Hulu, LLC
14.3.1.12.1. Company Details (HQ, Foundation Year, Revenue, Employee Strength)
14.3.1.12.2. Company Description
14.3.1.12.3. SWOT Analysis
14.3.1.12.4. Strategic Overview
15. Key Takeaways
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Over the Top (OTT) Services Market
