Over The Top (OTT) Market size is to grow by USD 439.12 billion from 2022 to 2027; the growing preference for cloud streaming services drives the market - Technavio

NEW YORK, June 20, 2023 /PRNewswire/ -- The over-the-top  (OTT) market is estimated to grow at a  CAGR of 24.85 from 2022 to 2027. The market size is forecast to increase by  USD 439.12 billion. For Comprehensive details on the market size of the historic period(2017 to 2021) and the forecast period (2023-2027) - View a Sample Report

Over The Top (OTT) Market - Market Dynamics

Key Drivers

The growing preference for cloud streaming services is notably driving market growth. Technological advancements in wired and wireless technologies and telecommunication standards, such as 3G, 4G, and 5G, are boosting the adoption of cloud streaming services across the world. Cloud streaming services help prevent the illegal downloading and sharing of video and audio files.  However, consumers are gradually shifting toward paid premium services to gain access to additional features, including shuffle play, advertisement-free, downloading, high-quality audio, and the skipping function. They have shifted from the use of iPods and music systems to cloud-based streaming services, which allow users to store, download, stream, and share content. Cloud computing provides users legal access to online music, even from remote servers, irrespective of the device used hence it is rapidly being adopted by firms. The growing Internet penetration, adoption of push strategies by market players, and better cloud streaming services will promote consumers to adopt cloud streaming services during the forecast period.

Significant Trends

The growing adoption of wearables with music streaming is a major trend in the market. Wearable technology is a rapidly growing segment of the global consumer electronics market. End-users are increasingly adopting smartwatches, such as Apple Watch, Moto 360, LG G Watch, and SAMSUNG Gear. Smartwatches replicate the smartphone experience by acting as a schedule manager and notification hub. For instance, in September 2020, the Garmin smartwatch launched Venu Sq and the Venu Sq Music Editio in India. However, It offers on-device music storage with health monitoring and fitness features that inspire you to keep moving. Other vendors of smartwatches, such as TomTom Spark3 Cardio + Music, Fitbit Versa, and Garmin Forerunner 645 Music, are also focusing on music as a selling point. Upcoming technological adaptations in smartwatch technology and wireless connectivity are expected to allow live OTT services to be compatible with these devices. Thus, the rising launch of wearables with offline and live OTT streaming services will drive the growth of the market in focus during the forecast period.

Major Challenges

The growing threat of cyberattacks is the major challenge hindering market growth. Consumers use the Internet to access OTT content for several purposes. The service providers collect through different channels such as personal data by tracking cookies to customize advertisements and reach the target audience. The data contains customer behaviour patterns, and it is used for customer profiling as well as data mining. Vendors are highly dependent on computer-based networks and the Internet, making the market prone to security-related issues. As this data gathered by service providers is highly sensitive, its indiscriminate use can infringe on customer privacy, thereby hindering the consumer's confidence in a brand. Apart from consumer behaviour and profiling, service providers also collect geo-based information related to consumers to facilitate location-based services. This further intensifies the challenge regarding data security and cyberattacks, as the data collected, processed, and stored by the vendors can be misused. Hence, this increasing threat of data security and cyberattacks will impede the growth of the market during the forecast period.

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Company Profiles

Some of the companies covered in this report are 8x8 Inc., Alphabet Inc., Amazon.com Inc., Apple Inc., Cinedigm Digital Cinema Corp., Comcast Corp., Deezer SA, Meta Platforms Inc., FlixFling LLC, iflix Ltd., Indieflix Inc., Microsoft Corp., Netflix Inc., Sirius XM Holdings Inc., Sony Group Corp., Spotify Technology SA, Telstra Corp. Ltd., Tencent Holdings Ltd., The Walt Disney Co., and Paramount Global etc.

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Competitive Analysis

The competitive scenario provided in the over-the-top (ott) market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc.

Market Segmentation

This report extensively covers market segmentation by content type (video, text and /images, VoIP, and music streaming), device (smartphone and tablet, laptop and desktop, and smart tv), and geography (North America, Europe, APAC, South America, and Middle East and Africa).

• The market share growth of the video segment will be significant during the forecast period. The market for video on demand is expected to witness influential growth during the forecast period owing to the increasing availability of video content. Based on the video, OTT services can be subcategorized into subscription video-on-demand (SVOD), advertising-based video-on-demand (AVOD), and transactional video-on-demand (TVOD).  However, by inserting advertisements into video content, advertisers generate revenues. YouTube is an example of an AVOD provider. Further, the development of mobile networks, investments in 4G, and the preparations for the launch of the 5G network increased the demand for video content. The 5G network promises to deliver better performance than the existing wireless networks in terms of faster data rates, lower latency, and greater area traffic capacity. This will encourage users to download and stream video content seamlessly on mobile devices such as smartphones and tablets. Hence, such a factor has also increased the subscriptions of videos on demand, thereby contributing to the growth of the global OTT market. 

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1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Content Type
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Device
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global over the top (OTT) market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on Global over the top (OTT) market 2017 - 2021 ($ billion)

• 4.2 Content Type Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size – Content Type Segment 2017 - 2021 ($ billion)

• 4.3 Device Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – Device Segment 2017 - 2021 ($ billion)

• 4.4 Geography Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)

• 4.5 Country Segment Analysis 2017 - 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Content Type

• 6.1 Market segments 
• Exhibit 30: Chart on Content Type - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Content Type - Market share 2022-2027 (%)

• 6.2 Comparison by Content Type 
• Exhibit 32: Chart on Comparison by Content Type
• Exhibit 33: Data Table on Comparison by Content Type

• 6.3 Video - Market size and forecast 2022-2027
• Exhibit 34: Chart on Video - Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Data Table on Video - Market size and forecast 2022-2027 ($ billion)
• Exhibit 36: Chart on Video - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Video - Year-over-year growth 2022-2027 (%)

• 6.4 Text and images - Market size and forecast 2022-2027
• Exhibit 38: Chart on Text and images - Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Data Table on Text and images - Market size and forecast 2022-2027 ($ billion)
• Exhibit 40: Chart on Text and images - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Text and images - Year-over-year growth 2022-2027 (%)

• 6.5 VoIP - Market size and forecast 2022-2027
• Exhibit 42: Chart on VoIP - Market size and forecast 2022-2027 ($ billion)
• Exhibit 43: Data Table on VoIP - Market size and forecast 2022-2027 ($ billion)
• Exhibit 44: Chart on VoIP - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on VoIP - Year-over-year growth 2022-2027 (%)

• 6.6 Music streaming - Market size and forecast 2022-2027
• Exhibit 46: Chart on Music streaming - Market size and forecast 2022-2027 ($ billion)
• Exhibit 47: Data Table on Music streaming - Market size and forecast 2022-2027 ($ billion)
• Exhibit 48: Chart on Music streaming - Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Music streaming - Year-over-year growth 2022-2027 (%)

• 6.7 Market opportunity by Content Type 
• Exhibit 50: Market opportunity by Content Type ($ billion)

7 Market Segmentation by Device

• 7.1 Market segments 
• Exhibit 51: Chart on Device - Market share 2022-2027 (%)
• Exhibit 52: Data Table on Device - Market share 2022-2027 (%)

• 7.2 Comparison by Device 
• Exhibit 53: Chart on Comparison by Device
• Exhibit 54: Data Table on Comparison by Device

• 7.3 Smartphones and tablet - Market size and forecast 2022-2027 
• Exhibit 55: Chart on Smartphones and tablet - Market size and forecast 2022-2027 ($ billion)
• Exhibit 56: Data Table on Smartphones and tablet - Market size and forecast 2022-2027 ($ billion)
• Exhibit 57: Chart on Smartphones and tablet - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Smartphones and tablet - Year-over-year growth 2022-2027 (%)

• 7.4 Laptop and desktop - Market size and forecast 2022-2027 
• Exhibit 59: Chart on Laptop and desktop - Market size and forecast 2022-2027 ($ billion)
• Exhibit 60: Data Table on Laptop and desktop - Market size and forecast 2022-2027 ($ billion)
• Exhibit 61: Chart on Laptop and desktop - Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Laptop and desktop - Year-over-year growth 2022-2027 (%)

• 7.5 Smart TV - Market size and forecast 2022-2027
• Exhibit 63: Chart on Smart TV - Market size and forecast 2022-2027 ($ billion)
• Exhibit 64: Data Table on Smart TV - Market size and forecast 2022-2027 ($ billion)
• Exhibit 65: Chart on Smart TV - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on Smart TV - Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by Device 
• Exhibit 67: Market opportunity by Device ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 68: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 69: Chart on Market share by geography 2022-2027 (%)
• Exhibit 70: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 71: Chart on Geographic comparison
• Exhibit 72: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027
• Exhibit 73: Chart on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 74: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 75: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027
• Exhibit 77: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 78: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 79: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027
• Exhibit 81: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 82: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 83: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 85: Chart on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 86: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 87: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 89: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 90: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 91: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 93: Chart on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 94: Data Table on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 95: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027
• Exhibit 97: Chart on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 98: Data Table on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 99: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 UK - Market size and forecast 2022-2027
• Exhibit 101: Chart on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 102: Data Table on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 103: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.11 Germany - Market size and forecast 2022-2027
• Exhibit 105: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 106: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 107: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 108: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.12 Canada - Market size and forecast 2022-2027
• Exhibit 109: Chart on Canada - Market size and forecast 2022-2027 ($ billion)
• Exhibit 110: Data Table on Canada - Market size and forecast 2022-2027 ($ billion)
• Exhibit 111: Chart on Canada - Year-over-year growth 2022-2027 (%)
• Exhibit 112: Data Table on Canada - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 113: Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 114: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 115: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 116: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 117: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 118: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 119: Matrix on vendor position and classification

• 12.3 8x8 Inc. 
• Exhibit 120: 8x8 Inc. - Overview
• Exhibit 121: 8x8 Inc. - Product / Service
• Exhibit 122: 8x8 Inc. - Key offerings

• 12.4 Alphabet Inc. 
• Exhibit 123: Alphabet Inc. - Overview
• Exhibit 124: Alphabet Inc. - Business segments
• Exhibit 125: Alphabet Inc. - Key news
• Exhibit 126: Alphabet Inc. - Key offerings
• Exhibit 127: Alphabet Inc. - Segment focus

• 12.5 Amazon.com Inc. 
• Exhibit 128: Amazon.com Inc. - Overview
• Exhibit 129: Amazon.com Inc. - Business segments
• Exhibit 130: Amazon.com Inc. - Key news
• Exhibit 131: Amazon.com Inc. - Key offerings
• Exhibit 132: Amazon.com Inc. - Segment focus

• 12.6 Apple Inc. 
• Exhibit 133: Apple Inc. - Overview
• Exhibit 134: Apple Inc. - Business segments
• Exhibit 135: Apple Inc. - Key news
• Exhibit 136: Apple Inc. - Key offerings
• Exhibit 137: Apple Inc. - Segment focus

• 12.7 Comcast Corp. 
• Exhibit 138: Comcast Corp. - Overview
• Exhibit 139: Comcast Corp. - Business segments
• Exhibit 140: Comcast Corp. - Key news
• Exhibit 141: Comcast Corp. - Key offerings
• Exhibit 142: Comcast Corp. - Segment focus

• 12.8 Deezer SA 
• Exhibit 143: Deezer SA - Overview
• Exhibit 144: Deezer SA - Product / Service
• Exhibit 145: Deezer SA - Key news
• Exhibit 146: Deezer SA - Key offerings

• 12.9 Indieflix Inc. 
• Exhibit 147: Indieflix Inc. - Overview
• Exhibit 148: Indieflix Inc. - Product / Service
• Exhibit 149: Indieflix Inc. - Key offerings

• 12.10 Microsoft Corp. 
• Exhibit 150: Microsoft Corp. - Overview
• Exhibit 151: Microsoft Corp. - Business segments
• Exhibit 152: Microsoft Corp. - Key news
• Exhibit 153: Microsoft Corp. - Key offerings
• Exhibit 154: Microsoft Corp. - Segment focus

• 12.11 Netflix Inc. 
• Exhibit 155: Netflix Inc. - Overview
• Exhibit 156: Netflix Inc. - Product / Service
• Exhibit 157: Netflix Inc. - Key offerings

• 12.12 Paramount Global 
• Exhibit 158: Paramount Global - Overview
• Exhibit 159: Paramount Global - Business segments
• Exhibit 160: Paramount Global - Key offerings
• Exhibit 161: Paramount Global - Segment focus

• 12.13 Sirius XM Holdings Inc. 
• Exhibit 162: Sirius XM Holdings Inc. - Overview
• Exhibit 163: Sirius XM Holdings Inc. - Business segments
• Exhibit 164: Sirius XM Holdings Inc. - Key offerings
• Exhibit 165: Sirius XM Holdings Inc. - Segment focus

• 12.14 Sony Group Corp. 
• Exhibit 166: Sony Group Corp. - Overview
• Exhibit 167: Sony Group Corp. - Business segments
• Exhibit 168: Sony Group Corp. - Key news
• Exhibit 169: Sony Group Corp. - Key offerings
• Exhibit 170: Sony Group Corp. - Segment focus

• 12.15 Spotify Technology SA 
• Exhibit 171: Spotify Technology SA - Overview
• Exhibit 172: Spotify Technology SA - Business segments
• Exhibit 173: Spotify Technology SA - Key offerings
• Exhibit 174: Spotify Technology SA - Segment focus

• 12.16 Tencent Holdings Ltd. 
• Exhibit 175: Tencent Holdings Ltd. - Overview
• Exhibit 176: Tencent Holdings Ltd. - Business segments
• Exhibit 177: Tencent Holdings Ltd. - Key offerings
• Exhibit 178: Tencent Holdings Ltd. - Segment focus

• 12.17 The Walt Disney Co. 
• Exhibit 179: The Walt Disney Co. - Overview
• Exhibit 180: The Walt Disney Co. - Business segments
• Exhibit 181: The Walt Disney Co. - Key offerings
• Exhibit 182: The Walt Disney Co. - Segment focus

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 183: Inclusions checklist
• Exhibit 184: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 185: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 186: Research methodology
• Exhibit 187: Validation techniques employed for market sizing
• Exhibit 188: Information sources

• 13.5 List of abbreviations 
• Exhibit 189: List of abbreviations

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Jesse Maida
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SOURCE Technavio