Presently OTT is at a relatively nascent stage and is widely accepted as a trending technology across the globe. The market is projected to witness further more innovative and advance transformation, enabling the customers to access everything they want at a single space making the OTT platforms adept of selling physical products along with video and audio service offerings is certainly going to be an upward trend during the forecast period.
In general terms the OTT can be explained as the digital content distribution, which is based upon various business models or revenue models. OTT can be stated as the delivery of audio/visual content being streamed over the internet.
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The global OTT market is segmented based on content type as: VoIP, text and images and video. On the basis of platform OTT market can be further divided into smart devices, gaming consoles, set-top box and laptops, tablets & desktops.
The global OTT market is estimated to grow at a CAGR of 17.16% during the forecast period 2017 – 2025 and accounts for US$ 158.4 Bn in the year 2025. One of the prime factors that are driving the demands for OTT market is the increasing investments for the development of internet/broadband infrastructure of the developing countries. Governments of various countries worldwide have laid their stress on the reach of high speed internet services in urban and rural areas of their countries. The better infrastructure coupled with falling prices of internet services has given a rise to OTT market in these countries.
Many countries still face challenges related to improper broadband penetration, acting as a hurdle for the market growth. Broadband infrastructure plays an important role as a driver to the growth of OTT market. The key players profiled in the report are Akamai Technologies, Inc., Amazon.com, Inc., Apple, Inc., CBS Corporation, Inc., Facebook, Inc., Google, Inc., HBO NOW, Hulu L.L.C., Netflix, Inc. and Roku, Inc. among others.
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