[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
