During the forecast period, the global over-the-top (OTT) services market is expected to generate US$ 7.0 trillion while growing at a 12.6% CAGR. The global over-the-top (OTT) services market has grown by leaps and bounds in recent years, owing primarily to the widespread availability of smart technologies.
The growth of the over-the-top (OTT) services market is being driven by an increase in digital subscriber base, demand for digital content, an increase in demand for live streaming channels, and digital advertising. The majority of pay-TV providers are launching standalone OTT-based subscription services. Dish’s Sling TV and AT&T’s DirecTV Now are two successful examples of affordable and standalone services in the United States. OTT services are expanding at an exponential rate. With the growth of e-services, the over-the-top (OTT) services industry is expected to reach $2.1 trillion by 2022.
Rising demand for high-speed connectivity with excellent service delivery will boost the overall market growth. The growing use of cloud-based technology in many applications, such as artificial intelligence and big data, fueled the market growth. The global over-the-top (OTT) services market is likely to benefit from the e-services segment.
Important Takeaways:
- The e-services segment is expected to grow at a 14.2% CAGR by 2032.
- Premium and subscription segments are expected to grow at a 13.1% annual rate during the forecast period.
- From 2022 to 2032, the US market will be worth $2.5 trillion, with a 12.7% CAGR.
- China’s market will be worth US$ 322.7 billion, growing at a 13.6% annual rate during the assessment period.
- From 2022 to 2032, the global over-the-top services market is expected to triple.
Competitive Environment
Twitter Inc., LinkedIn Corp., Netflix Inc., Amazon Inc., and Apple Inc. are among the key players in the global over-the-top (OTT) services market. Market participants are utilizing strategic collaborative initiatives to increase their market share and profitability. Recent developments among participants include:
