Growing preference for cloud streaming services to drive the market growth – Technavio
NEW YORK, NY, November 20, 2023 /24-7PressRelease/ — The Over The Top (OTT) Market size is set to grow by USD 439.12 billion between 2022 and 2027, and register a CAGR of 24.85%, according to Technavio’s latest market research report estimates. The significant driver in the Over the Top (OTT) market is the increasing inclination towards cloud streaming services. Technological advancements in wired and wireless technologies such as 3G, 4G, and 5G are boosting the worldwide acceptance of these services. Cloud streaming effectively mitigates illegal downloading and sharing of audio and video files. Companies employ push strategies, like the freemium model, to transition free users towards premium services, ensuring long-term viability. Consumers are gravitating towards paid premium options due to enhanced features such as ad-free listening, superior audio quality, and the convenience of downloading and skipping tracks. With a focus on identifying dominant industry influencers, Technavio’s reports present a detailed study by way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. Technavio offers an up-to-date analysis regarding the current global market scenario and the overall market environment. Buy the full report now
Over The Top (OTT) Market 2023-2027: Segmentation
• Content Type
o Text and Images
o Music Streaming
o Smartphones And Tablet
o Laptop And Desktop
o Smart TV
o North America
o South America
o Middle East And Africa
The video segment is anticipated to have remarkable growth in market share during the forecast period. The video on demand market is set to experience significant expansion, driven by the escalating availability of video content. Within the realm of OTT services in the video category, there are distinct divisions: subscription video-on-demand (SVOD), advertising-based video-on-demand (AVOD), and transactional video-on-demand (TVOD). SVOD grants users access to video content for a specific duration by paying a subscription fee. AVOD generates revenue through advertisements while users stream videos, offering free content. Platforms like YouTube operate on the AVOD model.
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Over The Top (OTT) Market 2023-2027: Company Analysis and Scope
Some of the major companies of the Over The Top (OTT) Market include 8×8 Inc., Alphabet Inc., Amazon.com Inc., Apple Inc., Cinedigm Digital Cinema Corp., Comcast Corp., Deezer SA, Meta Platforms Inc., FlixFling LLC, iflix Ltd., Indieflix Inc., Microsoft Corp., Netflix Inc., Sirius XM Holdings Inc., Sony Group Corp., Spotify Technology SA, Telstra Corp. Ltd., Tencent Holdings Ltd., The Walt Disney Co., and Paramount Global. To help businesses improve their market position, Technavio’s report provides a detailed analysis of around 25 vendors operating in the market. To leverage the current opportunities, market companies must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments. Backed with competitive intelligence and benchmarking, our research reports on the over-the-top (OTT) market are designed to provide entry support, customer profile & M&As as well as go-to-market strategy support.
The report also covers the following areas:
The Over The Top (OTT) Market is fragmented, and the degree of fragmentation will accelerate. The growing preference for cloud streaming services will offer immense growth opportunities. However, illegal downloading and piracy will hamper the market growth.
Over The Top (OTT) Market 2023-2027: Key Highlights
• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist Over The Top (OTT) Market growth during the next five years
• Estimation of the Over The Top (OTT) Market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the Over The Top (OTT) Market
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of Over The Top (OTT) Market companies
Uncover successful business strategies deployed by Companies of Over The Top (OTT) Market – Download Latest Free Sample Report in Minutes
Video Streaming Market: The Global Video Streaming Market size is estimated to grow at a CAGR of 20.36% between 2022 and 2027. The market size is forecast to increase by USD 310.44 billion.
Video-on-demand Market: The video-on-demand (VOD) market size is estimated to grow at a CAGR of 15.98% between 2022 and 2027. The market size is forecast to increase by USD 187.53 billion.
1. Executive Summary
2. Market Landscape
3. Market Sizing
4. Historic Market Size
5. Five Forces Analysis
6. Market Segmentation by Content Type
7. Market Segmentation by Device
8. Customer Landscape
9. Geographic Landscape
10. Drivers, Challenges, and Trends
11. Company Landscape
12. Company Analysis
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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