LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global over the top (OTT) market to grow at a CAGR of about 17% during the forecast period, according to their latest market research report.
The adoption of OTT standard is one of the major trends being witnessed in the global over the top (OTT) market 2018-2022. OTT services are now delivering audio and video data using the Internet without the interference of service providers. Operators are also integrating OTT into set-top boxes by exploring new technology and revenue streams. Moreover, the increasing innovative content offered by vendors is expected to attract more customers, thereby driving the growth of the OTT market.
According to Technavio analysts, one of the key factors contributing to the growth of the global over the top (OTT) market is the increasing number of smart connected devices:
Over the Top (OTT) Market: Increasing Number of Smart Connected Devices
The increasing penetration of smart connected devices such as smartphones and tablets are creating huge opportunities for vendors in the OTT market. Several customers across the world now prefer watching online content on their smartphone devices as it offers flexibility in terms of space and time. Thus, the increase in the number of smart connected devices is likely to drive the OTT market growth during the forecast period.
According to a senior analyst at Technavio for research on IT services, “Many viewers are increasingly using OTT services and constantly demanding the high-quality content, which is encouraging OTT providers to produce content for several channels and make it meaningful, informative, and relevant. Moreover, the introduction of various lucrative packages for on-demand services, with attractive pricing is stimulating the demand for OTT among consumers.”
Over the Top (OTT) Market: Segmentation Analysis
The global over the top (OTT) market research report provides market segmentation by content type (video, text and images, VoIP, and music streaming), screen type (mobile, desktop/laptop, and TV) and geography (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The Americas held the largest share of the market in 2017, followed by EMEA and APAC respectively. Although APAC held the smallest share of the market, it is expected to witness the maximum increase in its market share over the forecast period owing to the emergence of 4G and 5G, and the growing awareness about OTT service providers in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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