The Global Over the Top Services Market size is expected to reach around US$ 98.5 Bn by 2026 and is anticipated to grow at a CAGR of around 16.8% in terms of revenue during the forecasting period 2019 to 2026.
A streaming media service is offered directly to viewers via the Internet through the top media service is known as over the top service. OTT circumvents cable, broadcasting and satellite TV platforms that traditionally operate as controllers or distributors.
The report provides analysis of global Over the Top Services market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year.
The rapid growth of Netflix over the top (OTT) streaming was popular because it moved from simply showing old movies or TV shows to the creation of original content and a faster distribution of authorized content. It has been rapidly increasingly competitive and popular, especially among younger audiences. OTT content can be accessed directly from the phone, but is often seen on a television connected to the web or on a device connected to conventional televisions, such as Roku or Apple TV.
North America held the major share in the global market and anticipated to continue its growth during the forecast period. Factors such as technological advancement, presence of key service providers and high per capita income to afford these services boost the market growth. Besides, high internet penetration in U.S. and Canada also projected to spur the growth in near future. Europe on the other hand held second largest share and projected to grow at a steady rate amid the forecast timeframe whereas, Asia Pacific is anticipated to grow at a significant CAGR during the conjecture period. Major OTT service providers like Amazon and Netflix have started to increase their footprints in Asia Pacific economies. Additionally, some local players have also started to provide the OTT services (e.g Zee5 in India) as people are getting attracted towards these services. On the other hand, increasing mobile internet penetration in China, Japan, and India due to high speed data in minimal cost also contribute significantly to the market growth.
The market research study on “Over the Top Services Market (By Component, Services, Solution; Device Type, Smartphones, Gaming Consoles, Smart TV's, Set-Top Boxes, Laptops and Tablets, others; Content: Video, Games, Audio/VoIP, Communication, Others; End Use: Media & Entertainment, Health & Fitness, E-commerce, Education & Training, IT & Telecom, Government, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers a detailed insights on the global OTT services market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report provides insights on global OTT services market, its component, device type, content, end use, and major geographic regions. The report covers global OTT services market size, and segment markets by component, device type, content, end use, and geography along with the information on companies operating in the market. The Over the Top Services market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.
The global Over the Top Services market is segmented as below:
Over the Top Services Market By Component
Over the Top Services Market By Device Type
Over the Top Services Market By Content
Over the Top Services Market By End Use
Over the Top Services Market By Geography
Key Players and Market Situation
Major players include in this report are Netflix, Amazon, Hulu, Facebook, Twitter, Apple, Skype, Evernote Corporation, and Others.
Amazon Prime provides a range of Amazon Instant Video content to download unlimitedly. In 2013, the company launched its first original series, which only Prime members could access. Networks like HBO, Showtime and CBS deliver subscription-based services that stream content from bottom to top.
Acumen Research and Consulting predict that the over the top services market value is anticipated to be worth around US$ 98.5 billion by 2026.
The over the top services market is anticipated to grow over 16.8% CAGR during the forecast period 2019 to 2026.
North America held maximum share in 2018 for over the top services market.
Asia Pacific is projected to grow at a fast pace during forecast period in the over the top services market.
The global OTT services market is segmented into component, device type, content, end use, and major geographic regions.
The OTT services market key players are Netflix, Amazon, Hulu, Facebook, Twitter, Apple, Skype, Evernote Corporation, and Others.
The Over the Top Services market analysis major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.