The rising adoption of device-based computing is the driving force of Over The Top (OTT) market.
The market is estimated to grow from USD 28.04 billion in 2015 to USD 62.03 billion by 2020, at an estimated CAGR of 17.2%. Adoption of device-based computing, potential growth in demand for content, increase in requirement for compliance and verification, increase in wide availability of broadband infrastructure, personalization of technology are some of the prominent factors driving the adoption of OTT platforms and services.
Asia-Pacific (APAC) is expected to grow at the highest CAGR for OTT platform.
APAC is estimated to grow at the highest CAGR for the OTT platform market during the forecast period due to rising connectivity of broadband across regions and demand across large enterprise systems. On-premise based OTT is the largest contributor than the cloud-based OTT but the latter is expected to surpass the former due to the higher adoption rate of cloud technologies. Managed services in the services segment is expected to grow at the highest CAGR during the forecast period.
To determine the market size of various segments and sub-segments of the OTT market, extensive secondary research is done. The collected data were then verified through primary interviews. Distribution of primary interviews is as follows:-
- By Company Type: - Tier 1- 35%, Tier 2- 40% and Tier 3 -25%
- By Designation: - C-level -40%, Director level-30%, and others -30%
- By Region: - North America- 40%, Europe -25%, APAC-20%, and Rest of World - 15%
Note: *Others include OTT managers, marketing managers, and product managers.
Note: Tier 1 companies have revenues more than USD 10 billion, Tier 2 companies range in between USD 1 and 10 billion or overall revenues, and Tier 3 companies range between USD 500 million and USD 1 billion of overall revenues.
Easy accessibility of broadband technology is contributing to the increasing popularity of OTT.
A considerable part of OTT services are delivered over smart devices. So, countries such as the U.S. and Canada, which have better connectivity, can have a wide circulation of OTT apps. Furthermore, the broadband connectivity has increased its footprints globally. Due to this, the other Internet-enabled devices including smart TVs, STBs, and gaming consoles can also be used for the provision of OTT services. The advantage of using OTT service is that it is less costly in contrast to other traditional modes.
Various key players in the OTT market profiled in the report are Microsoft Corporation; Google, Inc. Apple, Inc. Facebook, Inc. Netflix, and Yahoo, Inc.
The report will help the market leaders/new entrants in this market in the following ways:
- This report segments the OTT market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the sub-segments across end-users and regions.
- The report will help stakeholders to understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.
- This report will help in understanding the competitors better and gain more insights to strengthen their position in the business. The competitive landscape section includes competitor ecosystem, mergers and acquisitions, partnerships, and new product developments.