PRN: Over the Top (OTT) Services Market is Expected to Reach US$3.5 bn by 2025: Rising Demand for Online and Cloud Services to Make OTT Services Indispensable, Says TMR
Over the Top (OTT) Services Market is Expected to Reach US$3.5 bn by 2025: Rising Demand for Online and Cloud Services to Make OTT Services Indispensable, Says TMR
ALBANY, New York, March 17, 2017 /PRNewswire/ --
On account of comprising several international and regional players, theÂ global over the top (OTT) services marketÂ exhibit a highly fragmented vendor landscape. With established players expanding their footprint across the world, regional companies are finding it increasingly difficult to compete with them in terms of quality, features, and price advantage. According to Transparency Market Research (TMR), several international companies are likely to grow inorganically in the coming years by acquiring domestic players. This activity will also help the companies expand their product portfolio.
Some of the leading companies operating in the global OTT services market are Google, Inc., LinkedIn Corporation, Facebook, Inc., Twitter, Inc., Netflix, Inc., and Apple, Inc., among others. Besides strategic collaborations, product innovation and launches are other key strategies leveraged by the market players to gain competitive edge over rivals
According to TMR, the global OTT services market will exhibit an impressive CAGR of 16.4% between 2017 and 2025. At this pace the market's valuation is expected to reach US$3.5 bn by 2025. Business models such as subscription and premium, adware, and ecommerce constitute the various types of models through which the global OTT services market generate revenue. Of these the premium and subscription model segment accounted for the dominant 48% of the overall market in 2016.
Regionally, North America held the largest share in the global OTT services market in 2016. In this region, the U.S. particularly leads the OTT services market, contributing nearly 87.30% of the overall market share. However, during the forecast period Asia Pacific is forecast to exhibit a CAGR of 16.1%, which higher than other regional segments.
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Market to Gain from Proliferation of Internet and SmartphonesÂ
OTT services are available via the channel of internet service provider, however, they are not directly involved in the planning of services. Because these services are delivered to consumers 'over the top' of service provider's network, they derived the name over the top services. The global market for OTT services is prophesized to witness rise in the demand on account of the increasing proliferation of smartphones and affordable high speed internet packages. With the phenomenon forecast to become more widespread, the deployment of OTT services is likely to surge immensely in the near future.
As smartphones are compatible with a majority of OTT applications, they are used increasingly for video calling, multimedia messaging, business file sharing, and video streaming. In addition, the market has greatly benefited by the rising demand for audio-video on demand, web-content surfing, cloud services, online games across small and large enterprises and the increasing trend of shopping products from e-commerce sites have positively impacted the global OTT services market.
Stringent and Diverse Regulations across Regions to Pose ThreatÂ
On the downside, the biggest challenge for OTT service providers is the diversified regulations and government policies across domestic and international markets. The fact that these regulations are subjected to variations continually, make operations more difficult for the OTT service providers. Nevertheless, with vendors upgrading their technologies and continually innovating products and advanced platforms, in the forthcoming years the global OTT services market is expected to witness immense opportunities.
Get more information from Research Report Press Release:Â http://www.transparencymarketresearch.com/pressrelease/over-the-top-market.htm
This review is based on a TMR study, titled "Over the Top (OTT) Services Market (Business Model - Premium and Subscriptions, Adware, and E-commerce; Application - Communication, E-Services, Media Content (Audio/Video, Gaming, and Web Content), and Cloud Services); End Use - Personal and Commercial (Healthcare, Media and Entertainment, IT, E-commerce, and Education)) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025."
The report segments the global OTT services market as:Â
> By Business Model
- Premium and Subscriptions
> By Application
> By End-use
> North America
> Asia Pacific
> Middle East and Africa (MEA)
- GCC Countries
> South America
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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