Over-The-Top Services Market Reaches USD 139.00 Billion in

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Pune, India, August 17, 2021 (GLOBE NEWSWIRE) – The global over-the-top service market is set to grow in importance due to the increasing demand for smart TVs due to their wide range of advanced functions and features. For example, in April 2021, Samsung Electronics teamed up with MediaTek to introduce Wi-Fi 6E-enabled 8K TVs. Samsung’s 8K QLED Y21 Smart TV will contain a MediaTek MT7921AU chipset. This information is provided by Fortune Business Insights â„¢ in a published report entitled “Over-The-Top Services (OTT) market Analysis of size, proportion and COVID-19 effects, by OTT service (online services and managed services), by type (OTT communication services, OTT media services and OTT application services), by platform (smartphones, smart TVs, Laptops, desktops and tablets and others) and regional forecast 2021-2028.According to the report, the market size in 2020 was $ 38.77 billion. It is forecast to grow from $ 44.54 billion in 2021 to $ 139.00 billion in 2028 at a CAGR of 17.7% over the forecast period 2021-2028.

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COVID-19 pandemic: Lockdown measures have increased the number of subscribers

The temporary closure of entertainment zones, box offices and multiplexes has accelerated the demand for superior services worldwide due to the COVID-19 pandemic. Nationwide lockdown measures have also increased the number of subscribers. For example, the India Brand Equity Foundation stated that OTT video sharing platforms’ paid subscription increased 31% in just four months in 2020. We provide in-depth research reports to help you find the best strategy to take your business to a whole new level amid the pandemic.

Segments

The media services segment dominates the portfolio due to the increasing number of live streaming platforms

The OTT Services market is divided into Application Services, Media Services, and Communication by Type. The media services segment is likely to remain at the top due to the increasing number of live streaming platforms such as music, online games, sports and concerts. The communication services segment generated 45.2% of the market share of OTT services in 2020. It is estimated that it will grow significantly with the advent of i-Message and WhatsApp.

Report coverage

The report provides an in-depth assessment of numerous customers’ trips across this industry, region and segment. It also offers various customer impressions on over-top services and their applications. The business intelligence and consulting solutions would help interested stakeholders, such as chief experience officers, improve customer experience maps that are tailored to their needs. They can transform customer experience and engagement with their own brands.

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Report scope and segmentation:

Report coverage details
Forecast period 2021 to 2028
Forecast period 2021 to 2028 CAGR 17.7%
Value forecast 2028 $ 139.00 billion
Base year 2020
Market size in 2020 $ 13.9 billion
Historical data for 2017 to 2019
number of pages 140
Covered segments By type, platform and region
Growth accelerator Rapidly growing demand for smart TV to increase market opportunities
The rapid increase in the top platforms is likely to fuel market growth
Lockdown resulted in high consumption of OTT media amid the COVID-19 pandemic
Pitfalls & Challenges The rapid increase in the top platforms is likely to fuel market growth

Regional insights

Asia Pacific was $ 15.93 billion in 2020: Fortune Business Insights â„¢

Geographically, North America had sales of $ 15.93 billion in 2020. It is expected to dominate in the near future due to increasing investment by companies in the content creation space. In the US, the presence of prominent OTT service providers such as Apple TV, Peacock, HBO Max, Quibi and Disney + would accelerate growth. On the other hand, the Asia-Pacific region would grow exponentially, aided by the presence of a well-established broadcasting sector in the region.

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Competitive landscape

Key players are focused on introducing innovative platforms to compete with their rivals

The global over-top service market encompasses a large number of companies primarily concerned with the needs of people around the world. Because of this, they are developing state-of-the-art platforms to compete with their competitors. Below are the two latest developments in the industry:

  • May 2021: Kakao Entertainment acquired $ 25 billion worth of video streaming technology company I & Soft. The former could use it to expand its OTT service business.
  • May 2021: Amazon India has launched an ad-supported free video streaming service called miniTV which is available on the Amazon Shopping app. It has professionally curated and created content in the fields of fashion, comedy shows, beauty, web series, and tech news.

A list of reputable over-top service providers operating in the world market:

  • Amazon.com, Inc. (Washington, USA)
  • Netflix, Inc. (California, USA)
  • Hulu, LLC (California, USA)
  • Google LLC (California, USA)
  • Apple, Inc. (California, USA)
  • Facebook, Inc. (California, USA)
  • Telstra Corporation Ltd. (Melbourne, Australia)
  • Rakuten, Inc. (Tokyo, Japan)
  • Roku, Inc. (California, USA)
  • Cocoa Corp. (Jeju-si, South Korea)
  • Vimeo Live (New York, USA)
  • The Walt Disney Company (California, USA)
  • Sling TV (Colorado, USA)
  • AT&T TV (WarnerMedia HBO) (California, USA)

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Table of Contents:

  • introduction
    • Definition, by segment
    • Research methodology / approach
    • Data sources
  • The central theses
  • Market dynamics
    • Macro and microeconomic indicators
    • Drivers, restrictions, opportunities and trends
    • Effects of COVID-19
      • Short term effects
      • Long-term effect
  • Competitive landscape
    • Business strategies adopted by key players
    • Consolidated SWOT Analysis of Key Players
  • Global insights and analysis on Over-the-Top Services Key Players market share, 2020
  • Key market insights and strategic recommendations
  • Distinguished companies (Covered for Key 10 players only)
    • overview
      • Key management
      • Headquarters etc.
    • Offers / business segments
    • Important details (Subject to data availability in the public area and / or in chargeable databases)
      • Employee size
      • Financial metrics
        • Past and current earnings
        • Business segment share
    • Recent developments
  • Appendix / Appendix
    • Global Over-the-Top Services (OTT) Market Size Estimates and Forecasts (Quantitative Data), by Segment, 2017-2028
      • From OTT services (USD)
        • Online OTT services
        • Managed OTT services
      • By type (USD)
        • OTT communication services
        • OTT media services
        • OTT application services
      • By platform (USD)
        • Smartphones
        • Smart TVs
        • Laptops desktops and tablets
        • Others (game consoles)
      • By region (USD)
        • North America
        • Europe
        • Asia Pacific
        • Middle East & Africa
        • Latin America

Table of contents continued.

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