New York, USA, July 06, 2021 (GLOBE NEWSWIRE) -- According to a recent report by Research Dive, the global over-the-top (OTT) market is forecasted to reach $438.5 billion by the end of 2026, from $110.1 billion in 2018. The comprehensive report provides a brief overview of the current scenario of the market, including other aspects such as dynamics of the market, growth and restraining factors, challenges, and opportunities during the forecast period. The report also offers the market figures, which makes it easier and more beneficial for the new participants to understand the real-time scenario of the market.
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Factors Impacting the CAGR Figures Pre and during COVID-19
The report reveals the real-time CAGR registered by the market during the pandemic. According to the report, the market has recorded a CAGR of 19.1% during recent months, while it was expected to be 16.7% in the pre-COVID-19 scenario. The main attributor behind the growth is the restrictions on going outdoor for non-essential reasons and shutdown of malls and cinema halls. Because of the lockdown, the demand of online streaming platforms such as Netflix and Amazon Prime has been increased more than ever, which enhanced the growth of the global over-the-top market.
Check out How COVID-19 impacts the Global Over-the-top (OTT) Market: https://www.researchdive.com/connect-to-analyst/310
Factors Impacting the Market Size in the Pre-COVID and Real-time Scenario
According to the report, the real-time market size has been increased compared to the pre-COVID-19 estimations. The real-time market size has reached a revenue of $155.6 billion in 2020, while it was estimated to reach $151.5 million in an analysis before the Covid-19 emergence. This is because of the popularity of over-the-top platforms among the young generation. OTT platforms are streaming a wide variety of programs during the lockdown period, keeping people sane and mentally sound. Many governments are even providing tax credits to the citizens to stream vividly produced and stored myriad content without any interruption. These are the factors enhancing the growth of the global over-the-top (OTT) market.
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Post Pandemic Insight
As per the report, the global over-the-top market is expected to sustain the growth after the pandemic. This is because of the popularity of these platforms. These platforms allows viewer independency, convenience to watch new movies and TV series without any interruption and user-friendly streaming options. These features will help these platforms to witness unparalleled growth in the post pandemic period.
Access Varied Market Reports Bearing Extensive Analysis of the Market Situation, Updated With The Impact of COVID-19: https://www.researchdive.com/covid-19-insights
Key Players
1. LINE Corporation
2. Facebook
3. Hulu, LLC
4. Kakapo Corp.
5. Indieflix, Inc.
6. VUDU, Inc.
7. Amazon Web Services
8. Telestra
9. Apple Inc.
10. Tencent Holdings Ltd.
11. Netflix
12. Rakuten, Inc.
13. Microsoft Corporation
14. Google LLC.
For example, Hulu, a US-based subscription video on demand service, has installed colorful flower sculptures on NYC High Line to strengthen the voices of the LGBTQ+ community and premiered new content in its reinvigorated LGBTQ+ stories hub in honor of the Pride Month, as per a press release published on June 7, 2021.
The report offers many strategies and ideas of the top industry players functioning in the industry such as the current strategic plans & developments, financial performance, SWOT analysis, and product/service range. Click Here to Get Absolute Top Companies Development Strategies Summary Report.
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