OTT typically stands for over-the-top which is a term used for the delivery of TV or film content over the internet. The over-the-top services eliminate the requirement of subscribing to a conventional satellite pay-TV or cable services. To access over-the-top services users only require a compatible hardware device such as smartphone applications, smart TV, personal computers, tablet or any device that supports internet services; and internet connection.
It’s being expected that by 2030, the Over-The-Top Services market cap will hit 1241.6 Bn at a CAGR growth of about 26.42 %.
.jpg "The Global Over The Top Services Market 2020-2030 (USD Billion)")
The global over-the-top services market size is anticipated to reach nearly USD 210 billion by 2025. This can be attributed to the growing adoption of smartphones and the proliferation of internet services across the globe. Also, the advancements in consumer electronics devices are the key factor in boosting the global over-the-top services market growth. Moreover, increasing adoption of online streaming analytics services is also fuelling the market growth of over-the-top services.
However, the availability of freemium over-the-top service models is expected to hamper the market growth. Furthermore, the advent of 5G connectivity is expected to be opportunistic for the market in the forthcoming years.
Over-The-Top Services Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2030 |
| Study Period | 2018-2030 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2030 | US$ 1241.6 billion |
| Growth Rate | CAGR of 26.42 % during 2020-2030 |
| Segment Covered | OTT Services, Type, Platform, Component, Deployment Type, Content Type, Vertical, Revenue Model, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Amazon.com, Inc., Netflix, Inc.. Hulu, LLC, Google LLC, Apple, Inc., Facebook, Inc., Telstra Corporation Ltd., Roku, Inc., Kakao Corp., The Walt Disney Company |
Key Segment Of The Over-The-Top Services Market
By OTT Services (USD Billion)
• Online Services
• Managed Services
By Type, (USD Billion)
• OTT Communication services
• OTT Media services
• OTT Applications services
By Platform, (USD Billion)
• Smartphones
• Smart TVs
• Laptops Desktops and Tablets
• Others
By Component, (USD Billion)
• Solution
• Services
By Deployment Type, (USD Billion)
• Cloud
• On-Premise
By Content Type, (USD Billion)
• Voice Over IP
• Text and Images
• Video
• Others
By Revenue Model, (USD Billion)
• Subscription
• Procurement
• Rental
• Others
By Vertical, (USD Billion)
• Media & Entertainment
• Education & Training
• Health & Fitness
• IT & Telecom
• E-Commerce
• BFSI
• Government
• Others
Regional Overview, (USD Billion)
North America
• US
• Canada
Europe
• Germany
• France
• UK
• Rest of Europe
Asia Pacific
• China
• India
• Japan
• Rest of Asia Pacific
South America
• Mexico
• Brazil
• Rest of South America
Middle East and South Africa
Frequently Asked Questions (FAQ) :
theover the top services market is growing at a CAGR of 26.42 % during the forecast period.
Asia-Pacific dominated the market forover the top services market and accounted for the largest revenue share
The Global over the top services Market is Segmented on the basis of material,End-user,Regions
Over-the-top service can also be described as anything that does not involve conventional billing models from telecom companies to satellite or cable companies. With the proliferation of Internet Protocol television (IPTV) the market for over-the-top services has also seen tremendous growth over the past few years. However, the term for OTT services has changed during the last couple of years, as OTT service has expanded from video-on-demand to web-based content. The over-the-top services are primarily monetized through paid subscriptions, however, several OTT platforms also monetize via advertising and in-app purchases.
Streaming Device Segment
Based on the streaming device segment, the market is divided into smartphones, personal computers and tablets, smart TV, gaming consoles, and others. In 2019, the smartphone segment gathered the highest market revenue and it is anticipated to govern the over-the-top services market throughout the forecast period. The dominance of this segment is majorly accredited to the booming penetration of smartphones in developing countries such as India, China, Japan, and others. However, the gaming consoles segment is expected to experience high growth throughout the forecast period.
Content-Type Segment
Based on the content type segment, the market is segmented into video, music, gaming, communication, and others. The gaming segment leads the market growth in 2019 and it is expected to keep its dominance throughout the forecast period. The growth of this segment is mainly attributed to the growing adoption of OTT services among gaming companies to release and deliver games online. However, the video segment is anticipated to experience the highest market growth in the forthcoming years due to the growing demand for online content and video-on-demand services among teenage and young populations.
Revenue Model Segment
In terms of the revenue model, the market is classified into advertisement-based, subscription-based, and transaction-based revenue models. In 2019, the subscription-based segment gathered the highest market revenue and it is expected to dominate the over-the-top services market throughout the forecast period. On the contrary, the transaction-based segment is projected to accumulate the highest growth during the forecast period.
The North American region dominated the overall market in 2019 and it is expected to maintain its position throughout the forecast period 2018-2025. The dominance of this region mainly attributed to the significant investments made by the government in new technologies. However, the Asia-Pacific region is projected to experience the highest growth throughout the forecast period. The growth of this region is majorly based on the growing adoption of smartphones and the increased enhanced speed of internet connection in this region.
.png "North America Over-The-Top Services Market, 2018-2025 (USD Billion)")
The major players of the global over-the-top services market are Netflix, YouTube, Facebook, Amazon.com, Google, Microsoft, Apple, Roku, Hulu, and Rakuten. Moreover, the other potential players in the over-the-top services market are Home Box Office, Indieflix, Tencent, Vudu, and Kakao. The recognized companies are coming up with innovative and new over-the-top services and solutions. For instance, in September 2019, Apple announced the launch of Apple TV+ in India. Apple TV+ is an on-demand video subscription service that is available through the Apple TV app to the users at less than $2 per month.