The global Over The Top Devices And Services market size is expected to be worth around US$ 220.55 billion by 2027, according to a new report by Vision Research Reports.
The global Over The Top Devices And Services market size was valued at US$ 56.41 billion in 2019 and is anticipated to grow at a CAGR of 18.7% during forecast period 2020 to 2027.
The rollout of high-speed broadband internet has resulted in a rising inclination toward online streaming platforms, thereby fueling industry growth. Moreover, the proliferation of technologies underlying live streaming and Video on Demand (VOD) has significantly 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 OTT providers, such as Disney+ and Apple TV+. The service providers are increasingly offering premium content for paying customers to gain comprehensive customer engagement. Additionally, although OTT platforms had 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 the estimations, OTT has now become a go-to mode for a sizeable audience base due to the inaccessibility of outdoor entertainment and the unavailability of new content on television channels.
The industry has revolutionized the ways of content creation and distribution, along with streaming. The market participants are making perennial additions of engaging content to cater to the rising demand of customers for variety in the content. The ongoing pandemic has resulted in more consumers inadvertently realizing the convenience offered by OTT services, which has led to a significant shift in content consumption. The market is expected to evolve continuously over the coming years owing to the enormous potential for customized and consumer-centric content made available on demand.
The OTT video segment accounted for the largest revenue share of 49.3% in 2019 and is projected to maintain its lead over the forecast period. The increasing number of OTT subscriptions have majorly driven the segment’s revenue. Breakthroughs in broadcast technologies have resulted in the development of innovative video streaming devices. The addition of features such as adaptive bitrate streaming has resulted in the creation of immense attractiveness for the video streaming platform providers, including Netflix and Hulu. The regional OTT video providers are penetrating the local markets and collaborating with Mobile Network Operators (MNOs) to create constantly evolving product offerings and capture maximum market shares.
The VoIP segment is expected to exhibit the highest CAGR of 20.3% from 2020 to 2027. A significant upsurge in smartphone users globally has led to the increased popularity of mobile VoIP, with users across the globe subscribing to VoIP services and apps offered by OTT service providers.
The Ad-based Video on Demand (AVOD) segment accounted for the largest revenue share of 38.7% in 2019. AVOD OTT platforms have attracted substantial attention over the past years, which has supported the revenue generation. Additionally, developed economies, such as the U.S., are expected to witness several significant AVOD platform launches over the coming years. However, the popularity of Subscription-based Video on Demand (SVOD) platforms is expected to overshadow the segment’s growth, resulting in a relatively sluggish growth over the forecast period.
The on-premise deployment segment accounted for the largest revenue share of 57.7% in 2019 owing to the high dependency on streaming infrastructure and equipment over the past decades. However, cloud deployment is expected to outgrow the on-premise segment and dominate the industry by 2027. Complexity in OTT services is one of the primary factors responsible for this paradigm shift as the implementation of cloud-based workflow enables video service providers to effectively hand over the responsibility of networking and infrastructure supporting their OTT services. The television broadcast industry is switching from CAPEX to an OPEX model by reforming its internal operations and scaling costs and associated services, along with its changing requirements.
Streaming sticks accounted for the largest demand share of 53.3% in 2019 and is expected to maintain its lead over the forecast timeframe. Streaming sticks have gained immense popularity over the past few years due to their compact size and cost-effectiveness. The manufacturers are focusing on introducing products of their own, with unique features, at a lower cost, in an attempt to strengthen their foothold in the market. Such features cater to the rapidly changing consumer needs globally, consequently broadening the customer base and accelerating the product demand.
The mobile devices and computers segment accounted for the largest revenue share of 55.8% in 2019 and is expected to maintain its lead over the forecast period. Continuous innovations in mobile devices and computers have resulted in the development of advanced apps that allow easy downloads, access to live videos and music, and streaming of live content on, tablets, smartphones, and computers, irrespective of the location and time. Due to the significant growth in mobile video viewership across the globe, service providers, such as Netflix, are increasingly prioritizing mobile features for their customers and have introduced mobile-only subscription tiers in countries with high viewership, such as India. Additionally, OTT video providers are constantly adding enhanced features to improve the in-app experience, resulting in an increase in subscriptions, ultimately fueling the segment growth.
The gaming console segment is expected to emerge as the fastest-growing segment, exhibiting a CAGR of 21.7%from 2020 to 2027. A rising number of connected gaming consoles globally is one of the key factors fueling the segment growth. Additionally, these devices are increasingly being preferred by the younger demographic for streaming online video content.
North America accounted for the largest revenue share of 46.3% in 2019 and is expected to maintain its lead over the forecast period. Well-established economies, such as the U.S., are making significant investments in new technologies. The region is home to prominent verticals capable of making necessary investments in advanced and reliable IT infrastructure for the continuously growing data traffic. Moreover, due to higher disposable income levels, the consumer willingness to pay for premium content or a subscription is much higher in the region, which is supporting the regional market growth.
Asia Pacific is expected to emerge as the fastest-growing regional market, exhibiting a CAGR of 23.9% from 2020 to 2027. The region has witnessed an influx of international service providers capitalizing on the increasing traction of subscription OTT.
Text & Images
Revenue Source Outlook
Mobile Devices & Computers
Smart TVs & Set-top Box
Device Type Outlook
Streaming Media Players
Connected Gaming Console
OTT Set-top Box
Middle East & Africa
The Over The Top Devices And Services market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Over The Top Devices And Services market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Over The Top Devices And Services market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Over The Top Devices And Services market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Over The Top Devices And Services market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Over The Top Devices And Services capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Over The Top Devices And Services by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Over The Top Devices And Services market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Over The Top Devices And Services market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Over The Top Devices And Services market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Over The Top Devices And Services industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Over The Top Devices And Services market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Over The Top Devices And Services market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Over The Top Devices And Services market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Over The Top Devices And Services market. These factors have benefited the growth of the global market for Over The Top Devices And Services. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Over The Top Devices And Services. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Over The Top Devices And Services are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
Legal Services Market (By Services: Taxation, Real Estate, Litigation, Bankruptcy, Labor/Employment, Corporate; By Firm Size: Large Firms, Medium Firms, Small Firms; By Provider: Private Practicing Attorneys, Legal Business Firms, Government Departments, Others) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030Read more...
Telecom Services Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030Read more...
Cold Chain Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030Read more...
5G Services Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030Read more...
Automotive Smart Display Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030Read more...