New York, USA, Sept. 18, 2020 (GLOBE NEWSWIRE) -- The global over-the-top (OTT) market is analyzed across the regions such as North America, Europe, Asia-Pacific and LAMEA. Among these, North America Over-the-Top (OTT) Market accounted for highest revenue share in 2018 and is expected to continue its trend throughout the forecast years. Asia-Pacific is expected to exhibit a remarkable growth and is estimated to generate a revenue of $116.5 billion by the end of 2026. Swift rise in the penetration of data network systems and increasing number of online content viewers percentage in Asia-Pacific, which will accelerate the market growth in the forecast years.
As per a new study conducted by Research Dive, the COVID-19 Impact on Global Over-the-top Market, is projected to reach up to $438.5 billion by the end of 2026, growing at a 19.1% CAGR during the estimated timeframe 2019-2026. The global market is segmented on the basis of component, revenue mode, device type, content type, end user, user type and region. The study provides comprehensive information about drivers, opportunities, restraints, segmentation and major manufacturers in the global market.
Download COVID-19 Impact Analysis Sample Report of OTT Market.
Factors impacting the growth of the market
As per the new study, increasing demand for OTT services due to flexibility to offer continuous customer experience along with availability of variety of contents through cloud based OTT services are projected to drive the market size. However, dearth of network systems infrastructure specially in developing economies along with safety concerns of customer database are major restraints for the growth of the market.
Solutions component held the global market size and smartphones segment generated for evident market size in the previous years
The global market is classified on the basis of component into services and solutions. In both of these, solution segment generated for highest OTT market size in 2018 and is expected to account for $228.0 billion by 2026. Along with solution, services component will witness to rise at a CAGR of 20.0% and is predicted to reach up to $210.5 billion till 2026.
By device type, global market is classified into smart TV’s, smartphones, laptops, desktops & tablets, set-top box, gaming consoles and others. In these, smartphones segment has dominated the global market share in previous years and is expected to remain its trend in the estimated timeframe. Along with, smart TV’s device type generated for second highest market size in 2018 and is projected to register for $87.7 billion by 2026. This expected growth is majorly owing to many of significant TV manufacturers such as Sony, Samsung, Panasonic and LG are offering several applications including Netflix, YouTube, Hotstar and others, which expected to dive the market growth in the forecast years.
Subscription segment accounted for highest market share
By revenue mode, the global market is categorized into advertisement, hybrid, subscription and others. In these, subscription segment held the global OTT market share, which was about 59.0% in 2018 and is predicted to continue its growth throughout the forecast time. Besides subscription, advertisement segment will have lucrative growth in the coming years and is estimated to reach $70.1 billion by the end of 2026. Increasing the adoption of OTT services by many organizations as promotional and advertisement tool is expected to boost the market growth.
Video segment registered significant market size
By content type, the global market is divided into audio/VoIP, video, communication, games and others. In these, video segment generated for highest OTT market size in 2018, it was valued at $42.9 billion and is expected to account for $177.2 billion in 2026. Games content type will witness to grow at a CAGR of 19.3% and is projected to reach up to $66.9 billion till 2026. Increasing trend for online gaming across the globe is driving the demand for OTT services for high quality gaming, which is expected to enhance the market growth.
Personal segment is expected to be most lucrative
By user type, the global market is segmented into commercial and personal. In these, commercial segment accounted for significant revenue share in 2018 and is expected to generate a revenue of $252.2 billion till 2026. Besides commercial, personal segment will experience a remarkable growth and is projected to grow at a CAGR of 20.7% in the forecast years. Increasing subscription of OTT services owing to increasing requirement for customized and personal experience, which will drive the market size.
Media & entertainment sector will be the most profitable in the forecast years
The global market is categorized on the basis of end use into education & training, media & entertainment, health & fitness, BFSI, government, IT & telecom and other. In these, media & entertainment sector held the global over-the-top (OTT) market share in the previous years and is expected to generate a revenue of $99.1 billion by 2026. IT & telecom end use will witness to generate a revenue of $86.0 billion by 2026. This expected growth is mainly owing to growing adoption OTT services by telecommunication networks to provide enriched customer experience.
The prominent players in the global over-the-top (OTT) market include:
- LINE Corporation
- Hulu, LLC
- Kakapo Corp.
- Indieflix, Inc.
- VUDU, Inc.
- Amazon Web Services
- Telestra
- Apple Inc.
- Tencent Holdings Ltd.
- Netflix
- Rakuten, Inc.
- Microsoft Corporation
- Google LLC.
The report sketches various aspects of all these market players such as product portfolio, SWOT analysis, financial performance, and recent strategic moves & developments. - Quick Download Top Companies Development Strategies Summary Report [75 pages]