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Dec 29, 2020 (The Expresswire) — A recent report on the over-the-top services market by Fortune Business Insights says 57% of people around the worldwide are smartphone users in the year 2017 and this is anticipated to rise robustly in the coming years. The increasing production of in-house web series is boosting the global over-the-top services market, says Fortune Business Insights in their new report. The report is titled, “Over-The-Top (OTT) Services“Market Size, Share and Global Trend by Business Model (Premium and Subscriptions, Adware, E-commerce), By Application (Communication, Cloud Services, E-Services, Web Content), By End-Use (Personal, Commercial), and Geography Forecast till 2026.â€
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Key Market Driver
- An increasing number of smart connected devices and growing popularity of online platforms.
- Adoption of the Internet of Things (IoT) analytics and OTT content.
Key Market Restraint–
- Low scope of customer retention, the reluctance of customers to make purchases, lack of procedure to curb or identify piracy.
Some of the companies operating in the global over-the-top services market are
- Evernote Corporation
- Apple FaceTime
- Yahoo Inc.
- LinkedIn Corporation
- Google Inc.
- Google Hangouts
- Netflix Inc.
- Facebook Inc.
- Rakuten Inc.
- Twitter Inc.
- Tencent QQ
- Amazon Inc.
- Fishtank OTT
- Apple Inc.
- WhatsApp LLC.
- Dropbox Inc.
- Microsoft Corporation
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Premium Video Content Marketing- A Major Booster for Market
The advent of video browsing over the internet is a major factor boosting the global over-the-top services market. Currently, consumers are getting more inclined towards over-the-top services as compared to traditional satellite or cable TV. The increasing number of smartphone users is also helping the market grow. In addition to this, the expansion of online companies into premium video content marketing and content localization worldwide is also driving the global over-the-top services market.
However, customers may face trust issues in terms of investing huge sums into video streaming and others. This may hamper the growth of the market in the forecast duration. In addition to that, the availability of free online video streaming is stopping many customers from making purchases.
Over-The-Top Services Market Landscape and Market Scenario Includes:
- Current market size estimate
- Revenues by players Top Companies
- Market size by product categories
- Market size by regions/country
Asia Pacific to Exhibit Fastest Growth, Implementation of 4G and 5G to Drive Market
Geographically, the global over-the-top services market is foreseen to be dominated by North America. This is because the U.S. holds a large share due to the highest mobile internet penetration with a speed range of 13.1 Mbps to 14 Mbps. However, due to the overall maturity of the market in the region, it is anticipated to show steady growth in the coming years.
Meanwhile, developing nations such as India, China, and others are helping the market in the Asia Pacific emerged as the fastest-growing regional market. This is because of the introduction of 4G and 5G technology and the availability of high-speed data across the nations. The rise in awareness about leading over-the-top services and the expansion of the broadband networks is anticipated to boost the market in Asia Pacific. This, coupled with the introduction and ongoing trend of online entertainment services such as Amazon, Netflix, Hulu, and others are also favoring the market and expected to continue doing the same in the forecast duration.
Important Features that are under Offering and Key Highlights of the Market Report:
- Detailed overview of Market Share
- Changing market dynamics of the industry
- In-depth market segmentation by Type, Application, etc.
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape of Market
- Strategies of key players and product offerings
- Potential and niche segments/regions exhibiting promising market growth
Apple, Netflix, and Google to Exhibit Stronghold in Overall Market
Fortune Business Insights foresees the global over-the-top services market to witness the dominance of Netflix, Google, and Apple in the current scenario. This is expected to remain the same in the forthcoming years on account of strategic growth patterns and heavy investments in machinery and equipment for better performance. For maintaining their foothold over the market, players are coming up with innovative content in their product line. This is anticipated to further attract new consumers into the over-the-top services and ultimately drive the market during the forecast period.
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Key Segmental Overview:
1. By Business Model
- Premium and Subscriptions
2. By Application
- Cloud Services
- Web Content
3. By End Use
4. By Geography
- North America (USA and Canada)
- Europe (UK, Germany, France, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East and Africa (South Africa, GCC and Rest of the Middle East and Africa)
For more information in the analysis of this report, visit:https://fortunebusinessinsights.com/industry-reports/Over The Top-services-market-100506
Key Features of Market Research Report:
- This report provides detail analysis of the Over-The-Top Services market and have a comprehensive understanding of the market and its commercial landscape.
- Learn about the various Over-The-Top Services market strategies that are being adopted by leading companies.
- It provides a five-year forecast assessed based on how the market is predicted to grow.
- It provides insightful analysis of changing competition dynamics and keeps you ahead of competitors.
- To understand the future scope and outlooks for the Over-The-Top Services market.
- Market Forecast by regions, type and application, with sales and revenue, from 2020 to 2026.
- Market Share, distributors, major suppliers, changing price patterns and the supply chain of raw materials is highlighted in the report.
- Market Size (sales, revenue) forecast by regions and countries from 2020 to 2023 of industry.
- The global Over-The-Top Services market Growth is anticipated to rise at a considerable rate during the forecast period, between 2020 and 2023. In 2020, the market was growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.
- Market Trend for Development and marketing channels are analysed. Finally, the feasibility of new investment projects is assessed and overall research conclusions offered.
- Over-The-Top Services Market Report also mentions market share accrued by each product in the market, along with the production growth.
Lastly, this report covers the market landscape and its growth prospects over the coming years, the Report also brief deals with the product life cycle, comparing it to the relevant products from across industries that had already been commercialized details the potential for various applications, discussing about recent product innovations and gives an overview on potential regional market shares.
Major Table of Content ForOver The Top ServicesMarket:
Global Over the Top (OTT) Services Market Analysis, Insights and Forecast, 2015-2026
5.1. Key Findings / Summary
5.2. Over-The-Top Services Market Size Estimates and Forecasts
5.2.1. By Service (Value)
22.214.171.124. Online OTT Services
126.96.36.199. Managed OTT Services
5.2.2. By Type (Value)
188.8.131.52. OTT Communication Services
184.108.40.206. OTT Media Services
220.127.116.11. OTT Applications Services
5.2.3. By Platform (Value)
18.104.22.168. Smart TV
22.214.171.124. Laptops Desktops and Tablets
126.96.36.199. Others (Gaming Consoles)
5.2.4. By Geography (Value)
188.8.131.52. North America
184.108.40.206. Asia Pacific
220.127.116.11. Middle East and Africa
18.104.22.168. Latin America
6. North America Over the Top (OTT) Services Market Analysis, Insights and Forecast, 2015-2026
6.1. Key Findings / Summary
6.2. Over-The-Top Services Market Size Estimates and Forecasts
6.2.1. By Service (Value)
22.214.171.124. Online OTT Services
126.96.36.199. Managed OTT Services
6.2.2. By Type (Value)
188.8.131.52. OTT Communication Services
184.108.40.206. OTT Media Services
220.127.116.11. OTT Applications Services
6.2.3. By Platform (Value)
18.104.22.168. Smart TV
22.214.171.124. Laptops Desktops and Tablets
126.96.36.199. Others (Gaming Consoles)
6.2.4. By Country (Value)
188.8.131.52. United States
7. Europe Over the Top (OTT) Services Market Analysis, Insights and Forecast, 2015-2026
7.1. Key Findings / Summary
7.2. Over-The-Top Services Market Size Estimates and Forecasts
7.2.1. By Service (Value)
184.108.40.206. Online OTT Services
220.127.116.11. Managed OTT Services
7.2.2. By Type (Value)
18.104.22.168. OTT Communication Services
22.214.171.124. OTT Media Services
126.96.36.199. OTT Applications Services
7.2.3. By Platform (Value)
188.8.131.52. Smart TV
184.108.40.206. Laptops Desktops and Tablets
220.127.116.11. Others (Gaming Consoles)
7.2.4. By Country (Value)
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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To view the original version on The Express Wire visit Over the Top (OTT) Services Market Highlights By Type And End Users, Phenomenal Growth By Top Players Till 2026 | Fortune Business Insights
The MarketWatch News Department was not involved in the creation of this content.