Over-The-Top Services Market Research Report by Component (Services and Solution), User Type, Revenue Model, Device Type, End-User, Region - Cumulative Impact of COVID-19, Russia Ukraine Conflict, and High Inflation - Global Forecast 2023-2030
The Global Over-The-Top Services Market size was estimated at USD 172.62 billion in 2022 and expected to reach USD 194.00 billion in 2023, projecting growth at a CAGR of 12.80% to reach USD 452.50 billion by 2030.
The report provides market sizing and forecasts across 7 major currencies - USD, EUR, JPY, GBP, AUD, CAD, and CHF; multiple currency support helps organization leaders to make better decisions. In this report, the years 2018 to 2021 are considered as historical years, 2022 as the base year, 2023 as the estimated year, and years from 2024 to 2030 are considered as the forecast period.
Cumulative Impact of COVID-19:
The COVID-19 pandemic had a massive impact on the OTT market. As people were stuck at home due to stay-at-home orders, they turned to stream services for entertainment and news consumption. This led to increased demand for streaming services, resulting in growth in the revenues for providers of OTT services. It also led to a surge in innovation as companies scrambled to meet this new demand for content and features. For example, many companies launched subscription-based models allowing users to pay a monthly fee for access to exclusive content and features.
Cumulative Impact of Russia-Ukraine Conflict:
The ongoing conflict between Russia and Ukraine has directly affected the OTT market. Russian companies cannot invest in or acquire foreign companies offering OTT services due to sanctions imposed by many countries. The imposed sanctions have hampered Russia and Ukraine’s ability to expand into new markets and develop innovative products and services. It has also impacted their ability to acquire content from foreign sources, resulting in fewer choices for consumers in Russia and Ukraine.
Cumulative Impact of High Inflation:
High inflation rates worldwide have made it difficult for providers of OTT services to remain competitive while still generating profits. With rising costs associated with maintaining servers, purchasing content rights, and other operational expenses, it can be difficult for companies offering these services to remain profitable without raising prices or cutting corners on quality or service delivery times. Rising OTT platform prices can result in customer dissatisfaction and changing providers for better value for money.
The market dynamics represent the ever-shifting landscape of the Global Over-The-Top Services Market by providing actionable insights into supply and demand levels. Taking such factors into account helps inform strategies, investments, and future developments to capitalize on opportunities or avoid potential pitfalls related to political, geographical, technical, social, and economic conditions. Such market observations also highlight consumer behaviors while influencing both manufacturing costs as well as consumer purchasing decisions.
- Proliferation of online streaming video channel coupled with surging SVOD
- Ongoing trend of OTT platforms in emerging markets
- High demand owing to flexibility and ease of use for great customer service
- Concern associated with data infrastructure and latency issues
- Ongoing technological advancements in OTT platforms
- Emerging adoption of OTT services across finance and education sector
- Security of user database and privacy of content consumption
Market Segmentation & Coverage:
- Based on Component, the market is studied across Services and Solution.
- Based on User Type, the market is studied across Commercial and Personal.
- Based on Revenue Model, the market is studied across Advertisement, Hybrid, and Subscription.
- Based on Device Type, the market is studied across Gaming Consoles, Laptops, Desktops, & Tablets, Set-Top Box, Smart TVs, and Smartphones.
- Based on End-User, the market is studied across BFSI, E-Commerce, Education & Training, Government, Health & Fitness, IT & Telecom, and Media & Entertainment.
- Based on Region, the market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.
This research report categorizes the Global Over-The-Top Services Market in order to forecast the revenues and analyze the trends in each of the following sub-markets:
Company Usability Profiles:
The report profoundly explores the recent significant developments by the leading vendors and innovation profiles in the Global Over-The-Top Services Market, including Akamai Technologies, Inc., Alphabet Inc., Amazon Inc., Apple Inc., Bharti Airtel Limited, Brightcove, Inc., BT Group, Catchplay, Cisco Systems, Inc., Disney+ Hotstar, EchoStar Corporation, Freesat Limited, Gospell Digital Technology Co., Ltd., Haivision Inc., Hulu, LLC, iflix Ltd., iQIYI, Inc., Kaltura, Inc., Microsoft Corporation, Netflix, Inc., Novi Digital Entertainment Pvt. Ltd., Rakuten Viki, Roku Inc., Tencent Holdings Ltd., and Wowza Media Systems, LLC.
The report provides insights on the following pointers:
- Market Penetration: Provides comprehensive information on the market offered by the key players
- Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
- Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
- Market Trends: Provides comprehensive understanding of the Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and the High Inflation
- Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
- Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
- What is the market size and forecast of the Global Over-The-Top Services Market?
- What are the inhibiting factors and impact of COVID-19 shaping the Global Over-The-Top Services Market during the forecast period?
- Which are the products/segments/applications/areas to invest in over the forecast period in the Global Over-The-Top Services Market?
- What is the competitive strategic window for opportunities in the Global Over-The-Top Services Market?
- What are the technology trends and regulatory frameworks in the Global Over-The-Top Services Market?
- What is the market share of the leading vendors in the Global Over-The-Top Services Market?
- What modes and strategic moves are considered suitable for entering the Global Over-The-Top Services Market?