Rapid Growth in Demand for Live Streaming Channels, during the COVID-19 chaos, to Promote the Development of Global Over-The-Top (OTT) MarketDownload Sample Reports Overview
The world is experiencing an unpredicted change and most of the industry verticals are facing a challenging period owing to the COVID-19 emergency. However, this crisis is projected to affect the global over-the-top market in positive way. Many governments have imposed lockdowns to curb the virus spread, thereby significantly increasing the amount of time people spend on their mobile phones. Also, according to study done by Research Dive, there is 30% increasing in the viewer’s percentage in entertainment sector. These factors are eventually driving the OTT services for online content such as video and audio services.
Moreover, several government bodies are initiating various initiatives during the emergency period to support the businesses. For example, in recent times, the infocomm media development authority and enterprise of Singapore has announced digital support to SMEs. In this program government approved remote working solutions to resume the productivity activities in the SMEs. During this COVID-19 lockdown period, we are supporting the market players in understanding the impact of COVID-19 on the global over-the-top market.
Our report includes:
- Technological Impact
- Social Impact
- Investment Opportunity Analysis
- Pre- & Post-COVID Market Scenario
- Infrastructure Analysis
- Supply Side & Demand Side Impact
According to a new report published by Research Dive, the global over-the-top market is anticipated to generate a revenue of $438.5 billion by 2026, increasing at a CAGR of 19.1% in the forecast time 2019-2026. The global market has been classified into component, device type, revenue mode, content type, user type, end user and region. This report will offer complete insights of drivers, opportunities, restraints, segmental analysis and significant players of the market.
Factors impacting the growth of the market
According to this study, rapid growth in demand for live streaming channels along with continuously developments in OTT cloud based services are projected to boost the market growth. But, lack of data network infrastructure for OTT services is expected to hamper the market growth in the forecast years.
Solutions segment accounted for dominant market share
Based on component, the global market is segmented into solution and services. Among these, solution segment accounted for significant market size in 2018, it was valued at $60.6 billion and is projected to continue its growth during the forecast years. The increasing importance of solution segment in digital content distributing, digital media and broadcast management are driving the market growth. Besides solution, the market for services will grow at a notable rate of 20.0% CAGR and is projected to generate a revenue of $210.5 billion till 2026.
Smartphones device type will be the most lucrative
Based on device type, global market is segmented into smartphones, smart TV’s, laptops, desktops & tablets, gaming consoles, set-top box and others. Among these, smartphones device type led the global over-the-top market share, which was about 28.0% and is projected to continue its dominance over the global market throughout the forecast years. Increasing the adoption of OTT services through smartphones owing to accessibility of higher speed data services are projected to drive the market growth in the forecast years.
Subscription revenue mode is anticipated to grow at notable rate
Based on revenue mode, the global market is classified into subscription, advertisement, hybrid and others. Among these, subscription revenue mode accounted for evident market share in the previous years and is projected to reach up to $254.4 billion in 2026. Growing trend for subscription video on demand (SVoD) including YouTube, Netflix, Hotstar and Hulu around the world is driving the subscription services, which will accelerate the market growth. Advertisement revenue mode will experience a significant growth and is projected to grow at a CAGR of 20.0% throughout the forecast time.
Video content type will be the most lucrative in the coming years
Based on content type, the OTT market is classified into video, audio/VoIP, games, communication and others. Among these, video content type accounted for evident revenue share in the previous years and is expected to continue its dominance in the global market during the estimated period. Extensive utilization of OTT services for online video streaming application is expected to propel the market growth in the forecast years. Besides video, communication content type will witness to grow at a highest CAGR of 19.9% and is projected to generate a revenue of $88.4 billion in 2026.
Personal user type will be the most profitable
Based on user type, the global market is categorized into personal and commercial. In both of these, commercial user type registered for majority of the over-the-top market size in 2018, which was valued at $68.3 billion and is projected to reach up to $252.2 billion by 2026. Along with, personal user type will witness to rise at a faster CAGR of 20.7% and is projected to account for $186.4 billion by the end of 2026. Increasing demand for OTT services to provide personalized experience is driving the market growth in the forecast years.
Media & entertainment end user will witness growth at significant rate
Based on end use, the global market is categorized into media & entertainment, education & training, health & fitness, IT & telecom, BFSI, government and other. Among these, media & entertainment end user generated for highest market size in 2018 and is projected to continue its growth at a faster CAGR of 19.5% throughout the forecast time. Increasing drift for digitalization of media and entertainment platforms is increasing adoption of OTT services, which will boost the market size in the forecast timeframe.
Over-the-top (OTT) market, regional outlook
North America region has dominated the global market share, which was over 35.0% and is projected to continue its dominance in the forecast years. This dominance is majorly attributed to well-developed broadband services along with availability of high speed mobile network services across the North America. Asia-Pacific region will witness to grow at a highest rate of 20.0% and is projected to generate ample growth prospects in the global market during the forecast timeframe. This growth is majorly owing to swift growth in the diffusion of internet services along with continuously rising number of Amazon prime, Hotstar and Netflix users across the Asia-Pacific region.
Over-the-top (OTT) market, significant players
Top 14 major key players in the Over The Top Market are -
- LINE Corporation
- Kakapo Corp.
- Hulu, LLC
- Indieflix, Inc.
- Amazon Web Services
- VUDU, Inc.
- Tencent Holdings Ltd.
- Apple Inc.
- Google LLC
- Rakuten, Inc.
- Microsoft Corporation