The global Over The Top Devices And Services Market size is expected to reach USD 1,079.1 billion by 2030, expanding at a CAGR of 24.3% from 2023 to 2030, according to a new study by Grand View Research, Inc. The rollout of high-speed broadband internet has resulted in a rising inclination toward online streaming platforms, thereby fueling the growth of the OTT devices and services market.
Moreover,
the proliferation of technologies such as high bit-rate streaming, pause &
rewind controls, and more, in live streaming and Video on Demand (VOD) has
contributed to the increasing number of OTT subscriptions, thus creating a
positive outlook for the market. The industry is witnessing an influx of new
players, with major platforms such as Netflix facing intense competition from
competitors, including Disney+ and Apple TV+.
OTT
service providers are increasingly offering premium content for paying
customers to gain optimum customer engagement. Although OTT platforms have been
successfully making their way into developing markets such as India, the
coronavirus crisis has undoubtedly given a push to the viewers’ appetite for
digital content. As per estimations, OTT devices and services have now become a
popular mode of entertainment for a sizeable audience base due to the
inaccessibility of outdoor entertainment and the unavailability of fresh
content on television channels.
The
industry has revolutionized the ways of content creation and distribution,
along with streaming. Market participants are constantly adding engaging
content to cater to the rising demand of customers for content variety. The
pandemic resulted in rising interest among consumers to move towards
entertainment offered by OTT service providers, which has led to a significant
shift in content consumption. The market is expected to evolve continuously in
the coming years, owing to the enormous potential for customized and
consumer-centric content made available on demand.
North
America is anticipated to hold a significant share of the OTT devices and
services market over the forecast period, owing to the presence of key OTT
service providers in the region. Additionally, the presence of major content
production houses is also one of the major factors for regional market growth.
Moreover, the high level of internet and smartphone penetration in the region
has added to the market advancement in recent years.
List of Key Players in the Over The Top Devices And
Services Market
- Akamai
Technologies
- Amazon.com,
Inc.
- Apple Inc.
- Brightcove
Inc.
- Disney +
Hotstar
- Google LLC
- Hulu LLC
- Limelight
Networks Inc.
- Microsoft
Corporation
- Netflix Inc.
- PCCW
Enterprises Limited
- Roku, Inc.
- Tencent
Holdings Ltd.
- WarnerMedia
Direct, LLC (HBO Max)
Related Press
Release@ Over The Top Devices and Services Market Report
Over The Top Devices And Services Market Report
Highlights
- Based on
type, the OTT services segment is anticipated to grow at the highest rate
of 24.4% due to the rising penetration and consumption of the Internet
with unlimited data plans
- Based on
device, the streaming media players segment led the market in 2022 with a
higher share, as a result of a wide range of compatibility with TVs and
other displays
- In terms of
service type, the OTT media services segment accounted for the dominant market
share of more than 86.0% in 2022, due to the high penetration of
smartphones, tablets, and other advanced electronic handheld gadgets that
offer an interactive display
- With regard
to OTT business models, the SVOD segment is expected to expand at a substantial
CAGR of 23.6% due to value for money and ad-free content
- Based on
platform, the smartphones segment is expected to expand at a substantial
CAGR of 24.7% during the forecast period, as a result of the ease of
downloading applications that offer OTT services and media
- Based on
geography, North America dominated the market in 2022 due to reliable IT
infrastructure, coupled with the high disposable income of consumers in
the region
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Over The Top Devices And Services Market Segmentation
Grand
View Research has segmented the global over the top devices and services market
based on type, device, service type, OTT business models, platform, and region.
Over The Top Devices And Services Type Outlook (Revenue,
USD Billion, 2018 - 2030)
- OTT Services
- OTT Devices
Over The Top Device Outlook (Revenue, USD Billion;
Volume, Million Units, 2018 - 2030)
- Streaming
Media Players
- Streaming
Sticks
Over The Top Device Service Type Outlook (Revenue, USD
Billion, 2018 - 2030)
- OTT Media
Services
- OTT
Communication Services
Over The Top Devices And Services OTT Business Model
Outlook (Revenue, USD Billion, 2018 - 2030)
- AVOD
(Ad-based Video on Demand)
- SVOD
(Subscription Video on Demand)
- TVOD
(Transactional Video on Demand)
Over The Top Devices And Services Platform Outlook (Revenue,
USD Billion, 2018 - 2030)
- Smart Phones
- Smart TVs
& Set-top Box
- Desktop
& Laptop
- Others
Over The Top Devices And Services Regional Outlook
(Revenue, USD Billion, 2018 - 2030)
- North
America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Netherlands
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Latin
America
- Brazil
- Mexico
- Middle East
& Africa
- South
Africa
- Saudi
Arabia
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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Grand View Research, Inc
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