The advancing popularity of video games and animated content on different gaming platforms is expected to create profitable market possibilities for OTT content.
The global OTT content market is expected to be worth US$ 434.98 billion by 2032, with the market developing at a rapid 17.4% CAGR from 2022 to 2032. The target market is expected to reach an estimated US$ 87.46 billion in 2022, fuelled by a significant increase in market penetration as well as rising demand for subscription-based services in emerging nations. During the forecast period, the increased popularity of live streaming channels will boost the expansion of the OTT content market.
The widespread use of 4G technology and the rapid development of 5G infrastructure around the world support the expansion of the OTT content business. An increase in high-speed bandwidth--an key criterion for the effective operation of OTT services--drives the target market's growth. The widespread use of high-speed internet and smartphones at low rates increases demand for the OTT content market. The gradual preference for SVOD over traditional TV services will support the target market's growth.
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Again, a rising demand for original and variety media content and increasing availability of the same further amplifies the growth of OTT content market in the global space. In addition to this, the advancing popularity of video games and animated content on different gaming platforms is expected to create profitable market possibilities for OTT content. Other factors like the availability of Freemium models, live streaming channels, high quality offerings by social media and other applications will aid the expansion of the OTT content market during the forecast period.
“Dominant presence of different social media platforms coupled with mass acceptance by the consumers will augment the global growth of the OTT content market over the forecast period,” says an FMI analyst.??
Key Takeaways:
Competitive Landscape?
Disney+ Hotstar, Apple Inc., Amazon Prime Video, Netflix Inc., Hulu LLC., Twitch, Akamai Technologies Inc., Brightcove Inc., Google Inc., Limelight Networks Inc., Roku Inc., Tencent Holdings Ltd., Alphabet Inc., Comcast Corp., Sirius XM Holdings Inc., Spotify Technology SA, and The Walt Disney Co., among others are some of the major players in the OTT content market profiled in the full version of the report.
Leading market players are focusing on strategic collaborations and partnerships to increase their market share. These organizations also engage in product innovation and introducing new streaming platforms and services to expand their consumer base.
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More Insights into OTT Content Market Report
In its latest report, FMI offers an unbiased analysis of the global OTT content market, providing historical data and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of content type (video, audio, games, mobile applications, communications), access type (OTT streaming devices, desktops & laptops, smartphones & tablets, smart TVs), revenue model (SVOD services, AVOD services, TVOD services, live streaming services), and region.
According to the latest FMI reports, based on segmentation, the SVOD revenue type will likely be a prime contributor to the overall market growth. This segment will register high demand during 2022-2032. The smartphone & tablet access type will expand at a startling 40% CAGR during the forecast period owing to the advancements in telecommunication technologies as well as the optimal pricing of 4G and 5G-enabled phones.
Based on region, the United States will register tremendous growth in the OTT content market in North America. This growth can be attributed to the strong presence of the animated content creators as well as rising demand for the same. Again, an estimated 64 Mn homes are accustomed to OTT in the U.S. Both of these considerations fuel the target market growth in North America. In Asia Pacific, India and China, too, will present impressive growth over the forecast period.
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Key Segments Profiled in the OTT Content Market Survey
By Content Type:
By Access Type:
By Revenue Model:
By Region:
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Jul 09, 2023
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