Over The Top Devices And Services Industry

According to a recent study by Grand View Research, Inc., the global over-the-top (OTT) devices and services market is projected to reach a valuation of USD 1,079.1 billion by 2030. The market is expected to expand at an impressive compound annual growth rate (CAGR) of 24.3% from 2023 to 2030. A key driver of this growth is the widespread rollout of high-speed broadband internet, which has significantly increased consumer preference for online streaming platforms. This shift in viewing habits continues to accelerate the demand for OTT services and associated devices.

In addition to improved internet infrastructure, the rapid advancement of streaming technologies has further contributed to market growth. Innovations such as high bit-rate streaming, interactive features like pause and rewind, and enhanced Video on Demand (VOD) functionalities have improved user experience and accessibility. These technological enhancements have led to a surge in OTT subscriptions globally. As a result, the market is experiencing a dynamic transformation, with an increasing number of players entering the space. Major platforms such as Netflix are now facing heightened competition from emerging services including Disney+, Apple TV+, and other regional and niche content providers.

To retain and attract users, OTT service providers are increasingly investing in high-quality, exclusive content for paying subscribers. Premium offerings and original programming have become essential strategies for boosting customer engagement and brand loyalty. While OTT platforms have already gained substantial traction in developed regions, their expansion into emerging markets such as India has been particularly notable. The global outbreak of COVID-19 played a pivotal role in accelerating this trend, as limited access to outdoor entertainment and disruptions in traditional TV programming led viewers to seek alternatives. As a result, OTT platforms quickly became a primary source of entertainment for a large segment of the global population.

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Over The Top Devices And Services Market Segments Highlights:

• Based on type, the OTT services segment is anticipated to grow at the highest rate of 24.4% due to the rising penetration and consumption of the Internet with unlimited data plans
• Based on device, the streaming media players segment led the market in 2022 with a higher share, as a result of a wide range of compatibility with TVs and other displays
• In terms of service type, the OTT media services segment accounted for the dominant market share of more than 86.0% in 2022, due to the high penetration of smartphones, tablets, and other advanced electronic handheld gadgets that offer an interactive display
• With regard to OTT business models, the SVOD segment is expected to expand at a substantial CAGR of 23.6% due to value for money and ad-free content
• Based on platform, the smartphones segment is expected to expand at a substantial CAGR of 24.7% during the forecast period, as a result of the ease of downloading applications that offer OTT services and media
• Based on geography, North America dominated the market in 2022 due to reliable IT infrastructure, coupled with the high disposable income of consumers in the region

Over The Top Devices And Services Market Report Segmentation

Grand View Research has segmented the global over the top devices and services market based on type, device, service type, OTT business models, platform, and region.

Over The Top Devices And Services Type Outlook (Revenue, USD Billion, 2018 - 2030)

• OTT Services
• OTT Devices

Over The Top Device Outlook (Revenue, USD Billion; Volume, Million Units, 2018 - 2030)

• Streaming Media Players
• Streaming Sticks

Over The Top Device Service Type Outlook (Revenue, USD Billion, 2018 - 2030)

• OTT Media Services
• OTT Communication Services

Over The Top Devices And Services OTT Business Model Outlook (Revenue, USD Billion, 2018 - 2030)

• AVOD (Ad-based Video on Demand)
• SVOD (Subscription Video on Demand)
• TVOD (Transactional Video on Demand)

Over The Top Devices And Services Platform Outlook (Revenue, USD Billion, 2018 - 2030)

• Smart Phones
• Smart TVs Set-top Box
• Desktop Laptop
• Others

Over The Top Devices And Services Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America
  • US
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Spain
  • Italy
  • Netherlands
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
• Latin America
  • Brazil
  • Mexico
• Middle East Africa
  • South Africa
  • Saudi Arabia

Key Over The Top Devices And Services Company Insights

• Akamai Technologies
• com, Inc.
• Apple Inc.
• Brightcove Inc.
• Disney + Hotstar
• Google LLC
• Hulu LLC
• Limelight Networks Inc.
• Microsoft Corporation
• Netflix Inc.
• PCCW Enterprises Limited
• Roku, Inc.
• Tencent Holdings Ltd.
• WarnerMedia Direct, LLC (HBO Max)

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