Global OTT (Over The Top) Market Size, Share, and COVID-19 Impact Analysis, By Component (Software, and Service), By Revenue Model (Subscription, Advertisement, Hybrid & Others), By Deployment (On-Premise and Cloud-based), By Content Type (Video, Audio, Games, Communication & Others), By Vertical (Media & Entertainment, Education & Training, Health & Fitness, IT & Telecommunications, E-commerce, Government & Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022-2030

KEY MARKET INSIGHTS

The Global OTT (Over The Top) Market is projected to grow from USD 48.34 Billion in 2021 to USD 189.67 Billion by 2030 at a CAGR of 16.3% during the forecast period.

Movies and TV shows that are directly provided to digital viewers without the need for a cable or satellite television subscription are referred to as over-the-top services. Users can directly download and watch OTT material whenever they want. This kind of material, which is supplied directly over the internet to connected devices like PCs, tablets, smartphones, and consoles, includes movies and TV shows. Over-the-top services are currently at a relative infancy stage and are widely acknowledged as a trending technology worldwide. The over-the-top market is anticipated to undergo an inventive and sophisticated change that will allow users to obtain everything in one place.

COVID-19 ANALYSIS      

The global media & entertainment sector has positively impacted by the COVID-19 epidemic. Due to the steadily increasing demand for OTT services, the COVID-19 epidemic has had a favorable effect on the expansion of the OTT market share. Due to the lockdown enforced and the increase in viewers communicating via various online platforms, this demand is primarily due to the ongoing growth of online communications services.

Additionally, consumption of online entertainment platforms is significantly rising in emerging markets like China and India, which is favorably boosting the market's expansion.

TREND

Increasing Accessibility to the High-Speed Internet Connectivity

Increasing adoption of high-speed internet connectivity is likely to aid the OTT market growth. Additionally, the growing use of internet-based Verticals is anticipated to fuel market expansion. One factor that is boosting demand for subscription-based services is the OTT industry.

DRIVERS

Proliferation of Smartphones Aiding the Market Growth

The emergence of smart TV, smartphone, 5G infrastructure, original media content, and others would present the profitable potential for market expansion. Additionally, throughout the anticipated period, the market expansion is predicted to be aided by rising demand for online streaming content, such as live news, movies, sports, and other entertainment.

Strong Digital Infrastructure Fueling the Demand of Live Streaming Channels

The rise in SVoD services, availability of a variety of content, surge in demand for live streaming channels, rise in demand for OTT services & gaming during the lockdown period implemented due to the COVID-19 outbreak, and accessibility of freemium models in price-sensitive markets are some of the factors driving the growth of the global over-the-top market.

RESTRAINT

High Pricing of OTT Platforms can hamper the Market Growth

The high pricing of several OTT platforms is likely to hamper the market growth. The development of the market is also hampered by latency problems and a lack of data network infrastructure. Nevertheless, it is projected that each of these factors would significantly affect market growth throughout the course of the projection period.

SEGMENTATION INSIGHT     

The global OTT (Over The Top) Market is segmented by Component, Revenue Model, Deployment, Content-Type, Vertical, and Region. Based on the Component, the market is categorized into Software and Service. Based on Revenue Model, the market is categorized into Subscription, Advertisement, Hybrid & Others. Based on Deployment, the market is categorized into On-Premise and Cloud-based.

Based on the Content-Type, the market is categorized into Video, Audio, Games, Communication & Others. Based on the Vertical, the market is categorized into Media & Entertainment, Education & Training, Health & Fitness, IT & Telecommunications, E-commerce, Government & Others. Based on the region, the market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.

By Revenue Model

Based on the revenue model, the market is categorized into subscription, advertisement, hybrid & others. The subscription segment is expected to dominate the market share of the OTT market owing to the growing usage of subscription-based services. During the anticipated years, the market growth will likely be fueled by the increasing adoption of subscription-based services.

By Vertical

Based on vertical, the market is managed and categorized into media & entertainment, education & training, health & fitness, it & telecommunications, e-commerce, government & others. The media & entertainment segment is expected to dominate the market owing to rising demand for over-the-top services in the telecommunications industry for video calling, phone, and messaging services, the IT & telecom sector is anticipated to see the greatest CAGR throughout the projected period.

REGIONAL INSIGHTS   

North America region is expected to dominate the OTT market share owing to increased technological adoption rates and shifting market conditions. The demand for cloud-based software is rising as businesses focus on cutting maintenance and update expenses. Equipped with smart devices and high broadband connectivity in the region.

The region has a significant demand for streaming content as well a large portion of the population in the US and Canada has high-speed internet access. People can view video content without any interruptions or buffering thanks to this. The second factor is the region's abundance of OTT app developers. Customers now have a wide range of options when choosing an app. For instance, in August 2020, Amazon Prime announced a Prime Gaming service for gamers.

However, the Asia Pacific OTT market value is expected to witness the highest growth rate from 2022 to 2030 due to growing telecommunications companies bundling OTT services into their data plans, the over-the-top business is expanding. The exponential growth in OTT service usage is also made possible by the increased use of mobile devices and government regulations governing the content on video streaming platforms.

LIST OF KEY COMPANIES PROFILED:

• Amazon.com, Inc.
• Apple, Inc.
• Google LLC
• iNeuron
• Kakao Corp.
• Meta, Inc.
• Netflix, Inc.
• Roku, Inc.
• Telstra Corporation Ltd.
• The Walt Disney Company
• WarnerMedia Direct, LLC
• Zee Entertainment Enterprises Limited

KEY INDUSTRY DEVELOPMENTS:  

• May 2021 – Kakao acquired INISOFT Co., video streaming technology company, to enter over-the-top (OTT) streaming market.

SEGMENTATION:

By Component

• Software
• Service

By Revenue Model

• Subscription
• Advertisement
• Hybrid
• Others

By Deployment Type

• On-Premise
• Cloud-based

By Content Type

• Video
• Audio
• Games
• Communication
• Others

By Vertical

• Media & Entertainment
• Education & Training
• Health & Fitness
• IT & Telecommunications
• E-commerce
• Government
• Others

By Region

• North America- U.S., Mexico, Canada
• Europe- UK, France, Germany, Italy, Spain, Rest of Europe
• Asia-Pacific- China, Japan, India, South Korea, Rest of Asia Pacific
• South America- Brazil, Argentina, Colombia, Rest of South America 
• The Middle East and Africa- GCC, South Africa, Rest of Middle East & Africa