Worldwide over-the-top video market is anticipated to reach around USD 94.3 billion by 2026, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2018-2026.
According to the report, increasing access to broadband infrastructure along with rising use of device-based computing has accelerated the adoption of Over-the-top (OTT) video services. The technology effectively enables consumers to stream live content, watch movies, and download videos.
As per the report, increasing use of mobile devices and other connected devices has lately influenced OTT video market outlook. Moreover, development of advanced apps, features, and independent platforms for OTT content is supporting industry growth.
Availability of low-cost OTT video services and increasing demand for personalized experience has accelerated product adoption worldwide. Meanwhile, rising disposable income, and growth in media & entertainment industry is anticipated to support OTT video market growth.
In terms of revenue, the AVOD segment dominated the global OTT video market in 2017. The growing investments by vendors for undertaking technological advancements and increasing demand from emerging economies is likely to boost OTT video industry size.
North America is projected to be the leading contributor to the global over-the-top video market over the forecast period. In 2017, the region generated the highest market revenue. The high disposable income in the region and proliferating media & entertainment industry currently drive regional market growth. There has also been a significant increase in the consumption of online video content across the region lately.
The report cites that favorable government regulations will compliment North America industry expansion. Additionally, local players are introducing low-cost OTT videos along with advanced technologies to cater growing user demand. Leading players across the region are also engaged in partnership and expansion strategies, thereby generating new growth opportunities in North America OTT video market.
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Major companies operating in over-the-top video market include Amazon.com, Microsoft Corp., Yahoo Inc., Hulu, Apple, Inc., Google Inc., Roku, Inc., Netflix Inc., Facebook, Inc., Akamai Technologies, Tencent Holdings Ltd., and Limelight Networks, Inc. The company profiles of leading market players are summarized in the report alongside their business overview, product benchmarking, financials, and recent developments.
In a bid to expand their customer base, companies are increasingly launching new products into the market. They are also participating in collaboration with other market leaders to develop advanced products that can effectively satisfy end-user requirements and needs.
The report offers a brief synopsis of over-the-top video market with respect to Porter’s five forces, industry trends, market forces, ecosystem analysis, competitive ranking analysis, and PEST analysis. It also provides an extensive quantitative and qualitative analysis of potential industry trends and growth prospects between 2018-2026.