Over-The-Top Services Market - Industry Size, Share, Growth & Forecast 2028 | UnivDatos


The Over-The-Top Services Market is expected to grow at a steady rate of around 18% owing to the increasing smartphone adoption and the availability of wireless broadband.

An Over-The-Top service (OTT) refers to any streaming service that delivers content over the internet. OTT application is any app or service that provides a product over the Internet and bypasses traditional distribution. These services are most typically related to media and communication. In addition, they are usually lower in cost than the traditional method of delivery of media and communication. In recent years, the demand for OTT has risen dramatically due to the rising demand for smart TV as well as the growing adoption of online streaming services. For instance, in January 2021, Firstlight Media collaborated with the over-the-top service provider Struum to deploy a cloud-native streaming platform. This collaboration focused on offering multiple platforms’ content using a single Stream subscription.

The Over-The-Top Services Market is expected to grow at a steady rate of around 18% owing to the increasing smartphone adoption and the availability of wireless broadband. Major companies in the market offer OTT for online gaming applications with technologically advanced features. For instance, In June 2021, Roku Inc. and TCL Electronics together launched their smart TV model in the U.K., offering streaming channels, voice control assistance, enhanced picture quality, and more.

According to UnivDatos Market Insights (UMI)’ research report “Global Over-The-Top Services Market”, the market is expected to witness robust growth during the forecast period (2022-2028). This is mainly due to the flexibility and ease of use to offer a seamless customer experience.

Based on services, the market is segmented into communication, media, applications, and the cloud. The media category is to witness a higher CAGR during the forecast period. This is because of the rising number of platforms providing live streaming, such as music, online games, sports, and concerts. Furthermore, the entry of global players into emerging markets adds to the growth of the market. For instance, in May 2021, Amazon India introduced an ad-supported, free video streaming service called mini tv available in the Amazon shopping app. It has professionally curated and created content across fashion, comedy shows, beauty, web series, and tech news.

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On the basis of service verticals, the market is categorized into media entertainment, education learning, gaming, and service utilities. Among these, the service utilities held a significant share in the market in 2020. This refers to a service network in which the service provider primarily controls the network capacity for providing services, and online services rely on the public Internet for content delivery. Additionally, the service utility segment is expected to grow steadily in the coming years owing to the availability of high-speed internet and the proliferation of electronic devices.

Based on type, the over-the-top services market has been classified into online gaming, music streaming, video on demand, communication, and others. The online gaming category is to witness higher adoption of OTTs during the forecast period. As this is one of the highly growing application areas. Many major players are operating to utilize OTT services to release and deliver games online successfully, with scalability for multiple users across different locations. Additionally, many users prefer HD quality for gaming content. Moreover, the online gaming market will be more transactional than subscription-based which is driving the growth of the market.

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Based on the business model, the market is segmented into subscription-based, advertising-based, and transaction-based. Transaction-based business model category to witness higher CAGR during the forecast period. This is mainly because the users want to experience content ownership when gaming online. The consumer wants to purchase the entire content so that they can use it flexibly and comfortably at any time. Furthermore, the entry of global players into emerging markets adds to the growth of the market. For instance, YouTube is launching its OTT platform in 2022 to create dominance in the market.

On the basis of streaming devices, the market is categorized into smartphones tablets, desktops laptops, IPTV consoles, set-top boxes, and others. Among these, smartphones tablets to hold a significant share in the market in 2020. This is mainly due to the increase in the adoption of mobile devices and tablets to stream over-the-top services and growth in the desired market for larger-screen smartphones in developing economies is accelerating the demand for the smartphones and tablets segment. Also, many continuous innovations in mobile devices and computers have resulted in the development of advanced apps that allow easy downloads, access to live videos and music, and streaming of live content on laptops, tablets, smartphones, and computers, irrespective of location and time. Thus, smartphones tablets offer better control capability and performance in the field.

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Based on end-user, the market is segmented into healthcare, media entertainment, e-commerce, it telecom, education, and others. The media entertainment category is to witness higher CAGR during the forecast period. This is increasing due to the rise in the number of digital video consumers. As many major key players are emerging from a variety of traditional media services, including broadcasters, rights holders, network providers, connectivity providers, and electronic device providers. Moreover, new providers are bypassing traditional cable and pay-TV solutions to offer subscription-based content streaming services. For instance, NBCUniversal Media, LLC is launching streaming platforms dedicated to original content and live streaming. Similarly, rights-holder providers like Disney+ and HBO reserve original content for their own platforms.

APAC to witness extensive growth

For a better understanding of the market adoption of the over-the-top services industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. APAC is anticipated to grow at a substantial CAGR during the forecast period. The growth is mainly due to the smart devices, broadband, and internet connectivity, which is augmented by the emergence of advanced technologies, such as 5G, and 4G, developed payment infrastructure, and a dynamic local content ecosystem that is driving the over-the-top services market forward. Additionally, the countries such as China and Japan, are home to major companies, such as Sega and Namco, which contribute hugely to Personal Computer (PC) gaming revenues and have huge potential to grow in the coming years. Furthermore, due to the excessive increasing mobile video viewing in emerging markets, top service providers are also introducing mobile-based subscription models, hence boosting the regional market growth.

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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the over-the-top services market are Facebook, Netflix, Amazon Prime Video, Microsoft Corporation, Google Chat, YouTube, Kakao, Hulu, IndieFlix, and blinkBox Entertainment Limited.

“Global Over-The-Top Services Market provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.      

Market Segmentation:

1.     By Services (communication, media, applications, and cloud)

2.     By Service Verticals (media entertainment, education learning, gaming, and service utilities)

3.     By Type (online gaming, music streaming, video on demand, communication, and others)

4.     By Business Model (subscription-based, advertising-based, and transaction-based)

5.     By Streaming Devices (smartphones tablets, desktops laptops, IPTV consoles, set-top boxes, and others)

6.     By End-User (healthcare, media entertainment, e-commerce, it telecom, education, and others)

7.     By Region (North America, Europe, Asia-Pacific, Rest of the World)

8.     By Company (Facebook, Netflix, Amazon Prime Video, Microsoft Corporation, Google Chat, YouTube, Kakao, Hulu, IndieFlix, and blinkBox Entertainment Limited)

Key questions answered in the study:

1.     What are the current and future trends of the global over-the-top services industry?

2.     How the industry has been evolving in terms of services, service verticals, type, business model, streaming devices, and end-user?

3.     How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.     What are the key growth drivers and challenges for the global over-the-top services industry?

5.     What is the customer orientation, purchase behavior, and expectations from the global over-the-top services suppliers across various region and countries?

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