OTT Content Market Size, Industry Analysis Report By Ingredient Type (Voice over IP (audio), Text and images, Music streaming, Video, Entertainment and infotainment, Food, travel and fashion, Gaming and spiritual content, Sports and live events), By Revenue Model (SVOD, AVOD, TVOD) & Region – Forecasts
- PUBLISHED ON
- 31/10/2022
- NO OF PAGES
- 275
- CATEGORY
- Information Communication & Technology
The OTT Content Market is valued at around USD 87.46 billion in 2022 and is expected to reach USD 434.98 billion by 2030, registering a CAGR of 17.4% over the forecast period. The delivery of audio, video, pictures, and other media via the Internet is known as over-the-top (OTT) content. OTT services can be used at a cheaper cost than the conventional mode of distribution and are mostly related to communication and media. All spheres of business and society are adopting OTT content, services, and applications more often. Instead of using traditional television, consumers may now access video online, and they can download music and movies that were previously only available on tangible media. Online video streaming services offer video material, such as TV shows and movies, over the internet to a variety of gadgets, including smartphones, tablets, desktop computers, laptops, and televisions.
The OTT Content Market - Growth Factor
The COVID-19 pandemic's commencement had a beneficial effect on the OTT market since viewers watched more content on OTT devices at home. This will probably hasten this format's expansion. When you consider the region's mobile-first economy along with the expanding OTT subscriber rate, the OTT opportunity is even more substantial. A great opportunity exists for media buyers who want to capitalise on shifting consumer patterns because more and more people have a digital TV in their pocket. Instead of using a platform based on a cable or satellite provider, over-the-top (OTT) is a platform that offers movie and television programming. The popularity of OTT has greatly helped the streaming of audio, video, and music. Narrow genre options, flexible packaging, greater gadget availability, internet penetration, and cheaper pricing can all be related to rising usage. Furthermore, OTT device adoption rates were significantly higher due to the growing need for personalised content.
The OTT Content Market – Market Trends
• The surge in penetration and demand for subscription-based services in emerging nations is expected to fuel the expansion of the OTT content market.
• The popularity of live streaming channels is rising along with the selection of material accessible, which accelerates the uptake of OTT services.
• Due to the widespread consumer acceptance of social media platforms and applications as well as their high-quality services, the demand for OTT content has increased.
• The availability of freemium models in price-sensitive areas will probably increase demand for these services. Additionally, the expansion of SVOD services is anticipated to fuel market expansion.
• Along with the gradual transition from traditional television to SVOD, rising high-speed internet penetration and smartphones at affordable costs are likely to fuel service demand.
The OTT Content Market – Segmentation
The OTT Content Market fragrance concentrates market has been sub-classified into content type, revenue model, platform/device type.
On the basis of ingredient type, the OTT Content Market is bifurcated into:
• Voice over IP (audio)
• Text and images
• Music streaming
• Video
• Entertainment and infotainment
• Food, travel and fashion
• Gaming and spiritual content
• Sports and live events
On the basis of revenue model, the market is segmented into:
• SVOD
• AVOD
• TVOD
• Others
On the basis of platform/device type, the market segmented into:
• Desktop and laptop
• Gaming consoles
• OTT streaming devices
• Smartphones and tablets
• Smart TVs
• Others
The OTT Content Market –Regional Analysis
North America dominated the global OTT Content Market, it might be linked to the United States being one of the countries that invest the most in the production of animated entertainment worldwide. One of the main elements promoting the creation of animation content is The Fox Broadcasting Company's existence, one of the biggest producers of prime-time television animation. New services like AT&T, ESPN, Turner Sports, and Crown Family Media Networks are gaining a lot of momentum in the United States, which is projected to boost the growth of the OTT content industry globally.
The OTT Content Market – Key Market players
Global key players of OTT Content Market include Akamai Technologies, Apple Inc., Google Inc., LeEco, Netflix, Microsoft Corporation, Amazon, Inc., Facebook, Inc., IBM Corporation, and Limelight Networks, and others.
Report scope
Global OTT Content Market: Historical Years- 2018-2021
Global OTT Content Market: Forecast Years- 2022-2030
Global OTT Content Market 2022- USD 87.46 billion
Global OTT Content Market 2030- USD 434.98 billion
Global OTT Content Market CAGR- 17.4%
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Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
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The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
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An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
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