The global OTT content market is anticipated to reach a valuation of US$ 434.98 Billion by 2032, with the market expanding at a prolific CAGR of 17.4% from 2022 to 2032. Predicted to reach an estimated US$ 87.46 Billion in 2022, the target market is likely fueled by a notable surge in market penetration as well as escalating demand for subscription-based services in emerging economies. The heightened popularity of live-streaming channels will further aid the growth of the OTT content market during the forecast period.
The deep market penetration of 4G and rising 5G infrastructure development across the globe aids the market growth of OTT content. An upsurge in high-speed bandwidth- which is an important criterion for proper functioning OTT services- propels the target market growth. The widespread usage pf high speed internet and smartphones, at competitive prices, amplifies the demand for the OTT content market. The gradual preference for SVOD over conventional TV services will supplement this growth of the target market.
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Again, a rising demand for original and variety media content and increasing availability of the same further amplifies the growth of OTT content market in the global space. In addition to this, the advancing popularity of video games and animated content on different gaming platforms is expected to create profitable market possibilities for OTT content. Other factors like the availability of Freemium models, live streaming channels, high-quality offerings by social media and other applications will aid the expansion of the OTT content market during the forecast period.
“Dominant presence of different social media platforms coupled with mass acceptance by the consumers will augment the global growth of the OTT content market over the forecast period,”-says Sudip Saha, Managing Director and Co-Founder at Future Market Insights.
Key Takeaways from the OTT Content Market Report:
- Growing commoditization of sporting services will generate lucrative opportunities for the target market.
- Strict government regulations and low bandwidth are some factors that may stunt the market growth.
- By access type, the smartphone and tablet segment will register an astounding CAGR of 40% in 2022.
- On the basis of the revenue model, Subscription-based Video on Demand (SVOD) will record high demand during the assessment period.
- High Spending on animated content will drive the target market in the United States.
- China will dominate the OTT content market in the Asia Pacific region.
- OTT services are registering a high growth rate in India.
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Top Market Players In The OTT Content Market:
- Amazon Prime Video – Also simply called Prime Video, it is an American subscription video-on-demand over-the-top streaming and rental service of Amazon offered as a standalone service or as part of Amazon’s Prime subscription.
- Netflix Inc. – It is an American subscription streaming service and production company based in Los Gatos, California. Founded in 1997 by Reed Hastings and Marc Randolph in Scotts Valley, California, it offers a film and television series library through distribution deals as well as its own productions, known as Netflix Originals.
- Hulu LLC – It is an American subscription streaming service majority-owned by The Walt Disney Company, with Comcast’s NBCUniversal holding a minority stake. It was launched on October 2007, and it offers a library of films and television series like 20th Century Studios, Searchlight Pictures, Disney Television Studios, ABC, Freeform, and FX Networks among others, as well as Hulu original programming.
- Twitch – It is an American video live streaming service that focuses on video game live streaming, including broadcasts of esports competitions, in addition to offering music broadcasts, creative content, and real-life streams. It is operated by Twitch Interactive, a subsidiary of Amazon.com, Inc.
- Akamai Technologies Inc. – It is an American content delivery network, cybersecurity, and cloud service company, providing web and Internet security services. Akamai’s Intelligent Edge Platform is one of the world’s largest distributed computing platforms.
Other Market Participants Of OTT Content Market:
- Disney+ Hotstar
- Apple Inc.
- Brightcove Inc.
- Google Inc.
- Limelight Networks Inc.
- Roku Inc.
- Tencent Holdings Ltd.
- Alphabet Inc.
- Comcast Corp.
- Sirius XM Holdings Inc.
- Spotify Technology SA
- The Walt Disney Co.
More Insights into OTT Content Market Report
In its latest report, FMI offers an unbiased analysis of the global OTT content market, providing historical data and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of content type (video, audio, games, mobile applications, communications), access type (OTT streaming devices, desktops & laptops, smartphones & tablets, smart TVs), revenue model (SVOD services, AVOD services, TVOD services, live streaming services), and region.
According to the latest FMI reports, based on segmentation, the SVOD revenue type will likely be a prime contributor to the overall market growth. This segment will register high demand during 2022-2032. The smartphone & tablet access type will expand at a startling 40% CAGR during the forecast period owing to the advancements in telecommunication technologies as well as the optimal pricing of 4G and 5G-enabled phones.
Based on region, the United States will register tremendous growth in the OTT content market in North America. This growth can be attributed to the strong presence of animated content creators as well as the rising demand for the same. Again, an estimated 64 Mn homes are accustomed to OTT in the U.S. Both of these considerations fuel the target market growth in North America. In Asia Pacific, India, and China, too, will present impressive growth over the forecast period.
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OTT Content Market Segmentation:
By Content Type:
- Video
- Audio
- Games
- Mobile Applications
- Communication
By Access Type:
- OTT Streaming Devices
- Desktops & Laptops
- Smartphones & Tablets
- Smart TVs
By Revenue Model:
- SVOD Services
- AVOD Services
- TVOD Services
- Live Streaming Services
About Future Market Insights (FMI):
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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