The Global Over the Top (OTT) Market Research Report 2020-2025 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data that enhances the understanding, scope and application of this report.
The over the top (OTT) devices and services market is expected to register a CAGR of 16.2% over the forecast period (2020-2025).
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Top leading Companies of Global Over the Top (OTT) Market are: Netflix, Inc., Disney+Hotstar, Amazon Prime Video (Amazon Inc.), Roku Inc., Now TV, DAZN Group, Hayu, Tencent Video (Tencent Holdings Ltd.), Stan Entertainment Pty Ltd and other
Key Market Trends
Increasing Adoption of Subscription video-on-demand (SVOD) Due to Smart TV Penetration
– According to Cisco, Connected TVs will grow third fastest (at a little less than a 6 percent CAGR), to 3.2 billion by 2023 after M2M connections and smartphones. Around 33% of people watch online videos on a Smart TV, with video-enabled apps as compared to 23% who use a video game console.
– In India, the top 5 metro cities account for 55% of the total OTT video platform users, while Tier one cities account for another 36% of the users. As per the survey, Hotstar leads the Indian OTT video content market, followed by Amazons Prime Video, SonyLIV, Netflix, Voot, Zee5, ALTBalaji, and ErosNow in terms of the percentage of respondents subscribed to each platform. ErosNow users were the most engaged users, with 68% of its users indicating that they watch content on the platform daily. The platform continues to thrive through partnerships. In India, it partnered with Xiaomi for pre-installation on smart TVs.
– Further, in September 2019, OnePlus ventured into the Indian smart TV market with the launch of OnePlus TV. The device combined imagination and intelligence to seamlessly connect mobile and home networks for the future of interconnectivity. Hungama, Eros, and ZEE5 content have been deep-integrated into the OnePlus Play dashboard. Other content partners include Amazon Prime Video, Hotstar, SonyLiv, and YouTube. This significantly shall provide growth to the Subscription video-on-demand (SVOD) segment.
– In the country such as the United States, The Walt Disney Company announced it had reached 10 million subscribers upon initial launch, which would put its Disney+ service fourth on the list. Also, Netflix had 69.97 million U.S. subscribers. The subscriber base in the United States accounts for around a third of Netflix’s worldwide streaming subscriber base, which at the end of 2019 stood at 167 million.
– Further, in July 2019, DocuBay, an international documentary VOD streaming service by IN10 Media, announced a significant collaboration with Foxxum. As part of the partnership, DocuBay will provide its library of premium content on the Foxxum Smart TV platform worldwide, comprising of several major markets, including Europe and the United Kingdom.
– Along with providing messaging services, some of the OTT apps also provide the functionalities that a broadcast channel provides to its customers. With a high rate of adoption, users broadcast entertaining videos, music, local or international news to a large group of other users. This wide range of applicabilities is accelerating its adopted growth.
North America Accounts for the Significant Market Share
– The consumption of media content in North America, especially in the United States is increasing tremendously with a switch from traditional media to digital media. The increasing internet speeds, coupled with the growing number of devices that support digital media, have provided the consumers with the freedom to access media content anywhere and anytime.
– According to VBA,71% of internet users also use OTT services, and 47% of US Wi-Fi households own a streaming box/stick. There are over 200 OTT providers in the United States. As of 2019, there are 182 million OTT subscription video service users in the country.
– Also, according to Instituto Federal de Telecomunicaciones de Mxico and Omdia, as of January 2020, there were 164 over-the-top (OTT) subscriptions per 100 households in the United States and 132 in Canada, making North America the largest OTT market worldwide.
– Further, as of July 2019, Netflix had the most viewers in the United States, reaching 158.8 million people compared to Amazon Video’s 96.5 million. Also, Hulu has the reach of 75.8 million viewers in the U.S., making up over 40 percent of subscription OTT video service users.
– Furthermore, YouTube users outnumber those of any other platform in the US, with 73% of US adults identifying as users in 2019. In the US, YouTube is the most popular app with the younger demographics, with 18-24 year-olds, and 25-34-year-old YouTube users outnumbering those of any other app. This significantly holds the market growth for Advertising Video On Demand (AVOD).
– Further, in June 2020, Haystack TV, a leading ad-supported streaming provider that connects viewers with hyper-relevant local, national, and global TV news, has rebranded its popular curated streaming service from Haystack TV to Haystack News. With nearly 300 U.S. broadcast stations supplying Haystack News with local news content, Haystack is the only AVOD news service with local news coverage for more than 90 percent of all local U.S. markets with availability across all-new Smart TV devices. Haystack achieved 145% new user growth the past 12 months and more than doubled usage for its personalized OTT news service.
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What are the market factors that are explained in the report?
-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
-Analytical Tools: The Global Over the Top (OTT) Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
Finally, Over the Top (OTT) Market report is the believable source for gaining the Market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request and Market development rate and figure and so on. This report additionally Present new task SWOT examination, speculation attainability investigation, and venture return investigation.
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Note: All the reports that we list have been tracking the impact of COVID-19 the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
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