The global over the top (OTT) market size reached US$ 461.0 Billion in 2023. Looking forward, the publisher expects the market to reach US$ 3.40 trillion by 2032, exhibiting a growth rate (CAGR) of 24.9% during 2023-2032. The growing internet penetration, rising adoption of smart devices, increasing demand for diverse content, and shift in user preferences from traditional broadcasting to on-demand, personalized media services are some of the factors bolstering the market growth.
Key Market Trends: OTT platforms are striving to distinguish themselves by ramping up the production of original content. Furthermore, the growing use of artificial intelligence (AI) and machine learning (ML) technologies in order to enhance content recommendation engines and user service is improving user engagement.
Geographical Trends: North America dominates the market attributed to the high internet penetration and the presence of major players in the region.
Competitive Landscape: Some of the major market players in the industry include Amazon.com, Inc., Eros International Plc., Google Inc., Hulu, LLC, International Business Machines (IBM) Corporation, Limelight Networks, Microsoft Corporation, Netflix, Inc., Nimbuzz, Star India, Tencent Holdings Ltd., Telstra Corporation Limited, The Walt Disney Company, Yahoo!, among many others.
Challenges and Opportunities: The rising cost of content creation and acquisition is influencing the OTT market growth. However, there is an opportunity to integrate advanced technologies such as virtual reality (VR) and augmented reality (AR) to provide immersive viewing experiences.
There is a rise in the variety of subscription models and the strategic bundling of services as shown by the introduction of new OTT subscription bundled plans by Vodafone Idea in June 2024. The plans had varying prices for postpaid and prepaid users, providing them with the ability to watch live sports on services, such as Disney+ Hotstar and Sony LIV. Vodafone Idea aims to reach a wider audience, especially sports fans looking for convenient and value-enhanced packages, by combining OTT services with traditional telecom services like data and call benefits. This method improves user loyalty by increasing the perceived value of their subscriptions and also draws a variety of viewers by focusing on specific interests including cricket and football. This approach capitalizes on the connections between using mobile data and utilizing content, increasing the number of subscribers and their involvement in the OTT sector.
Enhanced Content Security and Infrastructure Scalability
Verimatrix's collaboration with Amazon Web Services (AWS) in February 2024 highlights the importance of improved content security and infrastructure scalability in supporting the over the top (OTT) market growth. This collaboration aimed to enhance the scalability and dependability of the Streamkeeper Multi-DRM platform, utilizing AWS's strong cloud services, such as Global Accelerator and Route 53. These improvements are crucial to guarantee quick and safe distribution of content, especially for live streaming and premium content, which are very vulnerable to cyber-attacks. Through enhancing security protocols and delivery services, OTT providers are able to present individuals with a viewing experience that is both reliable and smooth. This not only ensures that current subscribers are happy with their data protection and viewing experience but also appeals to new users who value content security and quality.
Strategic Acquisitions and Partnerships
Leading OTT companies can quickly grow their content libraries, improve their tech capabilities, and expand their market reach by obtaining new platforms or partnering with content creators, tech providers, and distribution channels. These partnerships enable rapid adjustment to evolving viewer tastes and advancements in technology. Acquisitions have the potential to introduce advanced streaming technologies or exclusive content in-house, distinguishing a platform from its rivals. Collaborating with local content producers or telecom companies can assist in accessing new geographical markets by utilizing established local infrastructure or user bases. This strategy drives both growth and innovation while solidifying market presence, highlighting the importance of strategic acquisitions and partnerships in succeeding within the ever-evolving OTT landscape. For example, in February 2024, Reliance Industries (RIL) started negotiations to purchase a 29.8% share in Tata Play from Disney, with the goal of combining JioCinema content with Tata Play's services and expanding its footprint in the TV distribution industry. Disney plans to sell its shares following the postponement of Tata Play's IPO, paving the way for a potential acquisition.
Services
Solution accounts for the majority of the market share
The report has provided a detailed breakup and analysis of the market based on the component. This includes solution and services. According to the report, solution represented the largest segment.
Smart TV's
Laptops Desktops and Tablets
Gaming Consoles
Set-Top Boxes
Others
Smartphones holds the largest share of the industry
A detailed breakup and analysis of the market based on the platform type have also been provided in the report. This includes smartphones, smart TV’s, laptops desktops and tablets, gaming consoles, set-top boxes, and others. According to the report, smartphones accounted for the largest market share.
On-Premise
On-premise represents the leading market segment
The report has provided a detailed breakup and analysis of the market based on the deployment mode. This includes cloud and on-premise. According to the report, on-premise represented the largest segment.
Text and Images
Video
Others
Video is the predominant market segment
A detailed breakup and analysis of the market based on the content type have also been provided in the report. This includes voice over IP, text and images, video, and others. According to the report, video accounted for the largest market share.
Procurement
Rental
Others
Subscription leads the market, accounting for the largest OTT market share
A detailed breakup and analysis of the market based on the revenue model have also been provided in the report. This includes subscription, procurement, rental, and others. According to the report, subscription accounted for the largest market share.
Installation and Maintenance
Training and Support
Managed Services
Training and support dominates the market
The report has provided a detailed breakup and analysis of the market based on the service type. This includes consulting, installation and maintenance, training and support, and managed services. According to the report, training and support represented the largest segment.
Education & Training
Health & Fitness
IT & Telecom
E-Commerce
BFSI
Government
Others
Media and entertainment is the predominant market segment
A detailed breakup and analysis of the market based on vertical has also been provided in the report. This includes media and entertainment, education and training, health and fitness, IT and telecom, e-commerce, BFSI, government, and others. According to the report, media and entertainment accounted for the largest market share.
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
North America leads the market, accounting for the largest market share
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America represents the largest regional market for Over the Top (OTT).
(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)
Major participants in the OTT sector are actively increasing their viewer numbers and improving service options by forming strategic alliances, merging with other companies, and making acquisitions. They are making investments in creating content, obtaining exclusive rights to popular shows and movies, and producing original programming to set their platforms apart from rivals. These businesses are also prioritizing technological progress to enhance the quality of streaming and user experience, integrating AI and ML for personalized content suggestions and improved user engagement. Additionally, they are entering new geographical markets by adapting content and modifying their service models to meet local preferences and regulations. This multifaceted approach aims to solidify their presence and drive long-term over the top demand in a highly competitive market. In February 2024, Reliance Industries, Viacom18 Media, and The Walt Disney Corporation formed a joint venture, merging Viacom18's and Star India's television and digital streaming businesses into an $8.5 billion entertainment entity in India. Reliance invested $1.4 billion into the venture.
2. What is the expected growth rate of the global over the top (OTT) market during 2024-2032?
3. What are the key factors driving the global over the top (OTT) market?
4. What has been the impact of COVID-19 on the global over the top (OTT) market?
5. What is the breakup of the global over the top (OTT) market based on the component?
6. What is the breakup of the global over the top (OTT) market based on the platform type?
7. What is the breakup of the global over the top (OTT) market based on the deployment type?
8. What is the breakup of the global over the top (OTT) market based on the content type?
9. What is the breakup of the global over the top (OTT) market based on the revenue model?
10. What is the breakup of the global over the top (OTT) market based on the service type?
11. What is the breakup of the global over the top (OTT) market based on the vertical?
12. What are the key regions in the global over the top (OTT) market?
13. Who are the key players/companies in the global over the top (OTT) market?
Over the Top (OTT) Market Analysis:
Major Market Drivers: The market is experiencing robust growth owing to the rising internet penetration and the proliferation of smart devices. Additionally, technological advancements that improve streaming capabilities and user experience, along with changing user preferences for on-demand content, are strengthening the market growth.Key Market Trends: OTT platforms are striving to distinguish themselves by ramping up the production of original content. Furthermore, the growing use of artificial intelligence (AI) and machine learning (ML) technologies in order to enhance content recommendation engines and user service is improving user engagement.
Geographical Trends: North America dominates the market attributed to the high internet penetration and the presence of major players in the region.
Competitive Landscape: Some of the major market players in the industry include Amazon.com, Inc., Eros International Plc., Google Inc., Hulu, LLC, International Business Machines (IBM) Corporation, Limelight Networks, Microsoft Corporation, Netflix, Inc., Nimbuzz, Star India, Tencent Holdings Ltd., Telstra Corporation Limited, The Walt Disney Company, Yahoo!, among many others.
Challenges and Opportunities: The rising cost of content creation and acquisition is influencing the OTT market growth. However, there is an opportunity to integrate advanced technologies such as virtual reality (VR) and augmented reality (AR) to provide immersive viewing experiences.
Over the Top (OTT) Market Trends:
Diversification of Subscription Models and Bundling ServicesThere is a rise in the variety of subscription models and the strategic bundling of services as shown by the introduction of new OTT subscription bundled plans by Vodafone Idea in June 2024. The plans had varying prices for postpaid and prepaid users, providing them with the ability to watch live sports on services, such as Disney+ Hotstar and Sony LIV. Vodafone Idea aims to reach a wider audience, especially sports fans looking for convenient and value-enhanced packages, by combining OTT services with traditional telecom services like data and call benefits. This method improves user loyalty by increasing the perceived value of their subscriptions and also draws a variety of viewers by focusing on specific interests including cricket and football. This approach capitalizes on the connections between using mobile data and utilizing content, increasing the number of subscribers and their involvement in the OTT sector.
Enhanced Content Security and Infrastructure Scalability
Verimatrix's collaboration with Amazon Web Services (AWS) in February 2024 highlights the importance of improved content security and infrastructure scalability in supporting the over the top (OTT) market growth. This collaboration aimed to enhance the scalability and dependability of the Streamkeeper Multi-DRM platform, utilizing AWS's strong cloud services, such as Global Accelerator and Route 53. These improvements are crucial to guarantee quick and safe distribution of content, especially for live streaming and premium content, which are very vulnerable to cyber-attacks. Through enhancing security protocols and delivery services, OTT providers are able to present individuals with a viewing experience that is both reliable and smooth. This not only ensures that current subscribers are happy with their data protection and viewing experience but also appeals to new users who value content security and quality.
Strategic Acquisitions and Partnerships
Leading OTT companies can quickly grow their content libraries, improve their tech capabilities, and expand their market reach by obtaining new platforms or partnering with content creators, tech providers, and distribution channels. These partnerships enable rapid adjustment to evolving viewer tastes and advancements in technology. Acquisitions have the potential to introduce advanced streaming technologies or exclusive content in-house, distinguishing a platform from its rivals. Collaborating with local content producers or telecom companies can assist in accessing new geographical markets by utilizing established local infrastructure or user bases. This strategy drives both growth and innovation while solidifying market presence, highlighting the importance of strategic acquisitions and partnerships in succeeding within the ever-evolving OTT landscape. For example, in February 2024, Reliance Industries (RIL) started negotiations to purchase a 29.8% share in Tata Play from Disney, with the goal of combining JioCinema content with Tata Play's services and expanding its footprint in the TV distribution industry. Disney plans to sell its shares following the postponement of Tata Play's IPO, paving the way for a potential acquisition.
Over the Top (OTT) Market Segmentation:
The report provides an analysis of the key OTT market trends in each segment, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on component, platform type, deployment type, content type, revenue model, service type, and vertical.Breakup by Component:
SolutionServices
Solution accounts for the majority of the market share
The report has provided a detailed breakup and analysis of the market based on the component. This includes solution and services. According to the report, solution represented the largest segment.
Breakup by Platform Type:
SmartphonesSmart TV's
Laptops Desktops and Tablets
Gaming Consoles
Set-Top Boxes
Others
Smartphones holds the largest share of the industry
A detailed breakup and analysis of the market based on the platform type have also been provided in the report. This includes smartphones, smart TV’s, laptops desktops and tablets, gaming consoles, set-top boxes, and others. According to the report, smartphones accounted for the largest market share.
Breakup by Deployment Type:
CloudOn-Premise
On-premise represents the leading market segment
The report has provided a detailed breakup and analysis of the market based on the deployment mode. This includes cloud and on-premise. According to the report, on-premise represented the largest segment.
Breakup by Content Type:
Voice Over IPText and Images
Video
Others
Video is the predominant market segment
A detailed breakup and analysis of the market based on the content type have also been provided in the report. This includes voice over IP, text and images, video, and others. According to the report, video accounted for the largest market share.
Breakup by Revenue Model:
SubscriptionProcurement
Rental
Others
Subscription leads the market, accounting for the largest OTT market share
A detailed breakup and analysis of the market based on the revenue model have also been provided in the report. This includes subscription, procurement, rental, and others. According to the report, subscription accounted for the largest market share.
Breakup by Service Type:
ConsultingInstallation and Maintenance
Training and Support
Managed Services
Training and support dominates the market
The report has provided a detailed breakup and analysis of the market based on the service type. This includes consulting, installation and maintenance, training and support, and managed services. According to the report, training and support represented the largest segment.
Breakup by Vertical:
Media & EntertainmentEducation & Training
Health & Fitness
IT & Telecom
E-Commerce
BFSI
Government
Others
Media and entertainment is the predominant market segment
A detailed breakup and analysis of the market based on vertical has also been provided in the report. This includes media and entertainment, education and training, health and fitness, IT and telecom, e-commerce, BFSI, government, and others. According to the report, media and entertainment accounted for the largest market share.
Breakup by Region:
North AmericaUnited States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
North America leads the market, accounting for the largest market share
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America represents the largest regional market for Over the Top (OTT).
Competitive Landscape:
The OTT market research report has also provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the major market players in the industry include Amazon.com, Inc., Eros International Plc., Google Inc., Hulu, LLC, International Business Machines (IBM) Corporation, Limelight Networks, Microsoft Corporation, Netflix, Inc., Nimbuzz, Star India, Tencent Holdings Ltd., Telstra Corporation Limited, The Walt Disney Company, and Yahoo!.(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)
Major participants in the OTT sector are actively increasing their viewer numbers and improving service options by forming strategic alliances, merging with other companies, and making acquisitions. They are making investments in creating content, obtaining exclusive rights to popular shows and movies, and producing original programming to set their platforms apart from rivals. These businesses are also prioritizing technological progress to enhance the quality of streaming and user experience, integrating AI and ML for personalized content suggestions and improved user engagement. Additionally, they are entering new geographical markets by adapting content and modifying their service models to meet local preferences and regulations. This multifaceted approach aims to solidify their presence and drive long-term over the top demand in a highly competitive market. In February 2024, Reliance Industries, Viacom18 Media, and The Walt Disney Corporation formed a joint venture, merging Viacom18's and Star India's television and digital streaming businesses into an $8.5 billion entertainment entity in India. Reliance invested $1.4 billion into the venture.
Key Questions Answered in This Report
1. What was the size of the global over the top (OTT) market in 2023?2. What is the expected growth rate of the global over the top (OTT) market during 2024-2032?
3. What are the key factors driving the global over the top (OTT) market?
4. What has been the impact of COVID-19 on the global over the top (OTT) market?
5. What is the breakup of the global over the top (OTT) market based on the component?
6. What is the breakup of the global over the top (OTT) market based on the platform type?
7. What is the breakup of the global over the top (OTT) market based on the deployment type?
8. What is the breakup of the global over the top (OTT) market based on the content type?
9. What is the breakup of the global over the top (OTT) market based on the revenue model?
10. What is the breakup of the global over the top (OTT) market based on the service type?
11. What is the breakup of the global over the top (OTT) market based on the vertical?
12. What are the key regions in the global over the top (OTT) market?
13. Who are the key players/companies in the global over the top (OTT) market?
Table of Contents
1 Preface3 Executive Summary15 Value Chain Analysis
2 Scope and Methodology
4 Introduction
5 Global Over the Top (OTT) Market
6 Market Breakup by Component
7 Market Breakup by Platform Type
8 Market Breakup by Deployment Type
9 Market Breakup by Content Type
10 Market Breakup by Revenue Model
11 Market Breakup by Service Type
12 Market Breakup by Vertical
13 Market Breakup by Region
14 SWOT Analysis
16 Porters Five Forces Analysis
17 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Amazon.com Inc
- Eros International Plc.
- Google Inc.
- Hulu LLC
- International Business Machines (IBM) Corporation
- Limelight Networks
- Microsoft Corporation
- Netflix Inc
- Nimbuzz
- Star India
- Tencent Holdings Ltd.
- Telstra Corporation Limited
- The Walt Disney Company
- Yahoo!\
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 135 |
| Published | July 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 461 Billion |
| Forecasted Market Value ( USD | $ 3400 Billion |
| Compound Annual Growth Rate | 24.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 14 |
