The global over-the-top(OTT) devices and services market is expected to reach USD 165.13 billion by 2025,
according to a new report by Grand View Research, Inc. The rising penetration
of mobile devices, such as tablets and smartphones, and advancements in
consumer electronics devices such as smart TVs, are estimated to drive the
demand for OTT content and services amongst the masses over the forecast
period.
There has
been a rapid surge in the demand for OTT videos, particularly in developing
economies. TV digitization initiatives by various regional governments and
broadcasters across the world have enabled OTT content to emerge as the popular
platform for video consumption.
Businesses
across various sectors are increasingly seeking contemporary technological
models to provide personalized experiences to their customers, such as TV
access on smartphones, connected devices, and tablets. Content providers and
broadcast service providers are leveraging the benefits of OTT technology to
enhance customer engagement by gaining in-depth insights about their customer base.
Moreover,
the rising demand for Video On Demand (VOD), Voice over Internet Protocol
(VoIP), Subscription Video on Demand (SVOD), instant messaging services, and
internet TV are expected to propel the industry growth over the forecast
period. OTT service providers are increasingly focusing their efforts toward
the development of various innovative features, such as Google Translate, which
translates voice mail services into text, to provide convenience and enhance
customer value.
Full research report on over-the-top (OTT) devices
and services market analysis: http://www.grandviewresearch.com/industry-analysis/over-the-top-ott-devices-services-market
Further key findings from the report suggest:
·
Content providers such as DISH Network,
Comcast, AT&T, and DIRECTV, are paving their way into the SVOD domain to
expand their presence and capture a larger market share by providing various
offerings within the domain
·
OTT service providers across the globe are
focusing their efforts on the development of the three key streaming
technologies that include High-Dynamic Range (HDR),1080p content, 4K streaming,
and Virtual Reality (VR) video
·
Players such as WhatsApp, Tencent QQ, Apple
FaceTime, Skype, and Google Hangouts, are upgrading their processes with new innovative
technologies and offerings to provide advanced communication and messaging
services
·
The proliferation of hybrid models
combining Subscription VOD (SVOD) with Advertising VOD (AVOD) coupled with the
increasing penetration of fiber broadband and 4G internet services are expected
to propel the demand for OTT content across developing nations such as China
·
Growing proliferation of Smart TVs is
expected to provide increasing opportunities for advertisers to become content
providers and offer a wide plethora of services to consumers through various
platforms such as Hulu, Netflix, and YouTube
View more reports of this category by Grand
View Research at: https://www.grandviewresearch.com/industry/digital-media
Grand View Research has segmented the
global OTT devices and services market on the basis of content, revenue source,
device, deployment, and region:
OTT Devices
And Services Content Outlook (USD Billion; 2014 - 2025)
·
VoIP
·
Text & Images
·
Video
OTT Devices
And Services Revenue Source Outlook (USD Billion; 2014 - 2025)
·
AVOD
·
SVOD
·
TVOD
·
Others
OTT Devices
And Services Device Outlook (USD Billion; 2014 - 2025)
·
Mobile devices & Computers
·
Smart TVs & Set-top Box
·
Gaming Console
OTT Devices
And Services Deployment Outlook (USD Billion; 2014 - 2025)
·
On-premise
·
Cloud
OTT Devices
And Services Regional Outlook (USD Billion; 2014 - 2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
UK
o
Germany
o
France
o
Italy
o
Netherlands
·
Asia Pacific
o
China
o
Japan
o
Southeast Asia
o
South Korea
o
India
·
Latin America
o
Mexico
o
Brazil
·
Middle East & Africa
Access Full Press Release
of this Report: https://www.grandviewresearch.com/press-release/global-over-the-top-ott-devices-services-market
About Grand View Research
Grand View Research, Inc.
is a U.S. based market research and consulting company, registered in the State
of California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For more information: https://www.grandviewresearch.com/
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