LONDON--(BUSINESS WIRE)--The global over the top (OTT) market size is poised to grow by USD 77.73 billion during 2019-2023, according to a new report by Technavio, progressing at a CAGR of over 13% during the forecast period. Request Free Sample Pages
Read the 132-page research report with TOC on "Over the top (OTT) Market Analysis Report by content type (video, text and images, VoIP, and music streaming), and geography (APAC, Europe, MEA, North America, and South America) 2019 - 2023".
The market is driven by the increasing penetration of mobile computing devices. Also, the implementation of AI by OTT service providers is anticipated to further boost the growth of the over the top (OTT) market.
Mobile computing devices such as smartphones, laptops, and tablets have become a prominent choice for accessing OTT content. Along with accessing services such as VoIP and text and images, mobile computing devices are becoming the preferred choice for accessing audio and video content over OTT Platforms. Furthermore, these apps also record the personal information of users, which helps vendors to retain the customer through targetted advertising. The increasing penetration of mobile computing devices is expected to drive the growth of the global OTT market as the use of apps through these devices offers portability, easier accessibility, and better connectivity than websites.
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Major Five Over the Top (OTT) Companies:
Alphabet Inc. offers products such as Ads, Android, Chrome, Commerce, Google Play, Google Maps, Google Cloud, Google Search, hardware, and YouTube. YouTube is the most popular digital platform that is primarily used for video sharing. It offers both SVOD and AVOD access to digital content.
Amazon.com Inc. provides compute, storage, database, and other service offerings for start-ups, enterprises, government agencies, and academic institutions. The company offers Prime Video, which is an SVOD platform where users can access digital content through the internet on their smartphones, tablets, laptops, and other devices.
Microsoft Corp. has its business operations under three segments, namely productivity and business processes, intelligent cloud, and more personal computing. Microsoft’s Skype is a VoIP application used for providing video chat and voice calls between various devices such as computers, tablets, and, mobile phones.
Netflix Inc. derives revenues from monthly membership fees for services related to streaming content to members across the world. Netflix is a digital platform where users can access digital content through the internet using various devices like smartphones, tablets, laptops, and TVs.
The Walt Disney Co.
Walt Disney Co. operates its businesses under four segments, namely media networks, parks and resorts, studio entertainment, and consumer products & interactive media. The company offers Hulu, a platform that provides subscription-based video-on-demand service where consumers get access to digital content such as TV shows and movies.
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Over the Top (OTT) Content-Type Outlook (Revenue, USD Million, 2019 - 2023)
- Text and images
- Music streaming
Over the Top (OTT) Regional Outlook (Revenue, USD Million, 2019 - 2023)
- North America
- South America
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