Global OTT Devices and Services Market Report 2021-2026 with Akamai Technologies, Amazon, Apple, Brightcove, Google, Hulu, Limelight Networks, Microsoft, Netflix, Roku, Tencent
DUBLIN, December 2, 2021 / PRNewswire / – The “OTT Devices and Services – Global Market Trajectory and Analysis” the report was added to ResearchAndMarkets.com offer.
Global OTT Devices and Services Market to Reach $ 217.5 billion by 2026
In the midst of the COVID-19 crisis, the global market for OTT devices and services is estimated at US $ 77.1 billion in 2020, is expected to reach a revised size of US $ 217.5 billion by 2026, with a CAGR of 18.3% over the analysis period. Video, one of the segments analyzed in the report, is expected to grow at a CAGR of 18.7% to reach US $ 133.7 billion at the end of the analysis period.
Online video consumption has increased dramatically in recent years due to the availability of quality and engaging video content on very popular video sites like YouTube, Hulu, Vimeo, and Netflix among others. Today, a significant portion of video consumption comes from smartphones and tablet PCs, which provide on-the-go video viewing at the user’s convenience.
One of the main drivers of market growth is the development of the media and entertainment industry, as well as the increasing use of smart computing devices around the world. The growing consumer inclination for online streaming is significantly boosting the demand for the products, in turn accelerating the growth of the OTT market.
In addition, the rapid increase in online communication platforms with advanced technologies offering personalized and personalized consumer engagement is driving the demand for OTT services. The significant growth of the global OTT market during the pandemic period is also expected to continue after COVID-19.
This trend would be supported by the growing implementation of virtual reality (VR) and augmented reality (AR) for gaming applications on smart devices, to provide gamers with a real-time experience while playing games. games. In addition, the rapid growth of next-generation 5G cellular network service is expected to lead to increased adoption of OTT services for mainstream entertainment in the coming years. These advanced network services would provide much faster and more reliable cellular data speed and allow better 4K video streaming with improved video quality.
The US market is estimated at $ 31.1 billion in 2021, when China is expected to reach $ 27.9 billion by 2026
The market for OTT devices and services in the United States is estimated at US $ 31.1 billion in 2021. The country currently represents a 33.4% share of the world market. China, the world’s second-largest economy, is expected to reach an estimated market size of US $ 27.9 billion during the year 2026, with a CAGR of 22.2% through the analysis.
Other notable geographic markets include Japan and Canada, each projects growth of 15.8% and 16.5% respectively over the period of analysis. In Europe, Germany is expected to grow by around 16.5% CAGR while the rest of the European market (as defined in the study) will reach $ 33 billion by 2027.
The ever-increasing penetration of high-speed internet connectivity, unlimited wireless data plans, and widespread availability of public Wi-Fi have proven to be the driving force behind the increase in OTT demand in developing countries. Developing countries, which previously lagged behind in earlier network deployments, are now also making 5G network infrastructure development a national priority, despite their short-term accessibility challenges. These initiatives play a critical role in the success of the OTT video market.
Main topics covered:
1. MARKET OVERVIEW
- Pandemic Brings Significant Changes For OTT Media And Streaming Industry
- Amid pandemic, OTT gamers to expand their content libraries
- OTT subscriptions in India Benefit from the COVID-19 epidemic
- An introduction to OTT devices and services
- OTT content types
- Types of OTT content viewers / users
- Benefits of OTT services
- Global Market Outlook and Outlook
- Competition grows stiff in OTT hosting market amid pandemic
- Brands of the world
- Recent market activity
2. FOCUS ON CERTAIN PLAYERS (Total 95 featured)
- Akamai Technologies, Inc.
- Amazon.com, Inc.
- Apple Inc.
- Brightcove, Inc.
- Google Inc.
- Hulu SARL
- Limelight Networks, Inc.
- Microsoft Corporation
- Netflix, Inc.
- Roku, Inc.
- Tencent Holdings Ltd.
3. MARKET TRENDS AND FACTORS
- Rapid growth of media and entertainment industry and increasing demand for high quality streaming content to drive market gains
- OTT platforms disrupt the entertainment industry
- Sustained Increase In Internet Video Consumption Drives Growth Of OTT Video Market
- COVID-19 pandemic fuels growth in OTT video industry
- Notable Trends in Over-The-Top Streaming
- Use of advanced technologies by service providers to propel market growth
- Artificial intelligence (AI) emerges as a key technology to induce market growth
- Mainstream Media Houses Turn to OTT Distribution to Improve Revenue-Generating Potential
- Growing sales of connected and internet enabled devices increase in multi-screen visualization expand market potential
- Smartphones and tablets are emerging as fast-growing devices for accessing OTT services
- Market Benefits of Rising Smart TV Sales
- OTT video services expand to smart displays
- Increased Internet penetration and availability of broadband networks to stimulate opportunities
- Increase in high-speed 5G network technology to transform the market for OTT devices and services
- Ad-supported VOD platforms gain importance during COVID-19 pandemic
- SVOD Market Set For High Gains In The Future
- Providing personalized content: a lucrative income generation opportunity
- Consumer preference for premium content bodes well for the OTT device and service market
- OTT Streaming Devices Benefit Market Growth
- Growing importance of content delivery networks for OTT players
- Content discovery and recommendation tools help OTT players
- Big Data plays a role in boosting the accuracy of content recommendations
- OTT and VOD services emerge to fight media piracy
- Advanced features of modern connected devices enhance the attractiveness and image of OTT services
- Cloud streaming accelerates in the OTT market
- Opportunities for VOD Services in Non-Entertainment Sectors to Fuel Future Growth
- Challenges facing the OTT device and service market
4. WORLD MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
For more information on this report, visit https://www.researchandmarkets.com/r/jsnsiy
Research and markets
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SOURCE Research and Markets