The OTT market was valued at USD 101.4 Billion in 2020, and it is expected to reach a value of USD 230 Billion by 2027, at a CAGR of 13.80% over the forecast period (2020 – 2027).
Over-the-top (OTT) is a platform that allows access to film and television content by using a high-speed internet connection instead of cable or satellite that is provider-based. OTT acceptance has considerably assisted the video, podcast, and audio streaming offerings. The narrow type selections, packaging options, wider device availability, internet penetration, and overall cheaper costs are all contributing to increased acceptance. Furthermore, the rising demand for personalized data has resulted in a huge increase in the use of OTT devices.
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Global OTT Market Segmentation
The Global OTT market is segmented based on Type, Device type, User type, and Region. Based on Type it is categorized into: AVOD, SVOD, TVOD. Based on Device type it is categorized into: Smartphones, Smart TVs, Laptops, Desktops, Tablets, Gaming Consoles, Set-top Box, Others. Based on User type it is categorized into: Personal , Commercial. Based on region it is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.
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Key Trends in Global OTT Market
- Subscription video-on-demand (SVOD) adoption increasing due to the usage of smart TVs.
- Companies are exploring new models for monetizing content.
- Increased Mergers and strategic partnerships are changing the ecosystem.
Key players in OTT market are:
- Netflix, Inc.
- Amazon.com Inc. (Prime Video)
- The Walt Disney Company (Hulu)
- Tencent Holdings Ltd
- Roku Inc.
- Google LLC (YouTube)
- DAZN Group Limited
- NBC Universal (Hayu)
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