Editoria e Media
Global OTT Content Market to Surpass US$ 276.2 Mn by end of 2028, Says Coherent Market Insights
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OTT content can easily be accessed through a smartphone with a high-speed internet connection. The adoption of smart devices such as smartphones, tablets, and laptops has increased significantly in the recent past. As per the Pew Research Center, in 2019, around 81% of people in the U.S. had smartphones, increasing from 68% in 2015. According to the same source, tablet users in the U.S. increased from 34% in 2013 to 52% in 2019. Furthermore, high-speed internet penetration at competitive prices has also increased significantly over the years. According to the International Telecommunication Union (ITU), internet users across the globe reached 4 billion in 2019, increasing from 2.8 billion in 2014.
OTT content can be accessed anytime with a smart device and high-speed internet connection. Unlike conventional television, OTT content is not scheduled and can be viewed at any time of the day. Furthermore, the content available is ad-free and thus, provides a seamless experience of entertainment to users. Besides, OTT content providers are offering their content in different languages, including regional with subtitles, thereby making the entire experience sophisticated.
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Video on demand is a media distribution system that enables users to access videos without conventional video playback devices and limitations of static broadcasting schedule. Over the years, the adoption of SVOD content has increased massively among consumers. Video platforms such as Netflix, Hulu, Amazon Prime Video, and HBO Max have emerged as the most popular SVOD services at a competitive price. Key companies in the market can capitalize on these opportunities and gain a competitive edge in the market.
Key companies in the over-the-top content services are focused on mergers and acquisitions, in order to expand their presence and gain a competitive advantage in the market. For instance, in May 2021 , Amazon acquired MGM Studios for US$ 8.45 billion with the aim of boosting streaming services and competing with Netflix and Disney+. Furthermore, in May 2021 , AT&T announced that its subsidiary WarnerMedia will complete a US$ 43 billion merger with Discovery.
Among regions, North America is expected to witness significant growth in the global OTT content market during the forecast period. This is owing to the presence of key market players such as Netflix, Hulu, HBO Max, Disney+, and Apple TV in the region. Furthermore, a number of streaming services are providing content in HD and
4K quality, which in turn, is expected to boost the regional market growth in the near future.
Asia Pacific is expected to register lucrative growth, owing to telecommunication service providers offering lucrative data plans for OTT services. Furthermore, increasing penetration of smartphones and the internet is expected to boost the market growth over the forecast period.
Key companies involved in the global OTT content market are
For instance, in September 2021 , Amazon launched Prime Video Channels in India with access to Discovery+, Lionsgate Play, Eros Now, and many more add-on subscriptions.
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, By Component (Solutions (Transcoding and Processing, Video Management Software, Video Distribution, Video Analytics, Video Security, Other Solutions), Services (Professional Services, Managed Services)) By Streaming Type (Live Streaming, Video On Demand) By Deployment Type (On-Premises, Cloud), By Vertical (Media And Entertainment, Banking, Financial Services, And Insurance, Academia And Education, Healthcare, Government, Others) and by Region ( North America , Europe , Asia Pacific and ROW) - Size, Share, Outlook, and Opportunity Analysis, 2020 – 2027
- Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026
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Mr. Shah
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Coherent Market Insights
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