Proliferating Penetration of Mobile & Other Connected Devices to Spur OTT Content Market Growth: Future Market Insights
*Key players are focusing on distinguishing their platform and content offerings and adopting a customer-centric approach to gain competitive edge.*
*DUBAI, UAE / ACCESSWIRE / January 14, 2021 / Future Market Insights, Dubai*: As per recent market research by FMI, the global OTT content market is poised to witness a robust CAGR of 17.4% during the forecast period, 2018-2028. Rising trend towards on-demand video streaming service along with noteworthy investment by OTT media companies is boosting the adoption of the OYY content in the global market. The COVID-19 outbreak had a positive impact on the market growth, due to constantly rising consumption of online entertainment platforms. Additionally, emergence of new developments in OTT technology and new OTT markets are slated to notably impact the market growth.
*"*OTT content market faces aggressive competition from pay-TV operators, where the providers are trying to get ahead in video distribution and content development. New players are seeking for partnership with telecom companies and outsource OTT content whereas the key strategy of distributors is to source content from the varied OTT players*" states the FMI analyst.*
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*Important Highlights*
· North America will remain at the forefront, mainly due to proliferation in demand for streaming video services.
· Video content type is anticipated to remain lucrative throughout the forecast period.
· Smartphones & tablets will be attaining majority of market revenue share in the global market.
· SVOD will be maintaining a positive growth trend throughout the forecast period
*Drivers*
· Surge in demand for gaming and OTT services during lockdown is driving the market growth.
· Rise in demand for live streaming channels will be offering growth prospects for the market.
· Rise in penetration of mobile devices and government plans in relation to regulating the content on video streaming platforms are allowing exponential adoption of OTT services.
*Restraints*
· Disruption in internet connection while availing the VOD services by users or subscribers can discourage the market growth.
· Non-availability of content offline for download further creates a poor user experience, thus limiting the adoption of the services.
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*COVID-19 Impact on OTT Content Market*
The COVID-19 pandemic has boosted the adoption of OTT content market. Increase in online communications services, owing to the lockdown imposed, and more number of viewers communicating via several online platforms have encouraged the demand. Additionally, the trend is likely to stay even after returning to normalcy. OTT platforms, particularly, are investing profoundly in content acquisition and creation since they eye a large member base all over the world.
*Competitive Landscape*
The market is majorly dominated by Netflix, Amazon Prime Video, Hulu, HBO Now, and Disney+, controlling majority of the content that is released. The players are focusing on partnerships with telecom operators together with mergers & acquisition to extend their customer reach. Major players operating in the global market include Netflix Inc., Apple Inc., Google Inc., Amazon.com Inc., IBM Corporation, Akamai Technologies, Microsoft Corporation, Roku Inc., Limelight Networks, Hulu, Brightcove Inc., Facebook Inc., Kaltura Inc., ActiveVideo, HBO NOW, and LeEco.
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*About the Study*
The study offers readers a comprehensive assessment of the OTT content market. Global, regional and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights on the basis of content type (video, entertainment & infotainment, food, travel & fashion, gaming & sports, audio, games, mobile applications and communication), access type* *(OTT streaming devices, desktops & laptops, smartphones & tablets, smart TVs and Others), revenue model (SVOD, AVOD, TVOD, Live Streaming, and Others) and across key regions (North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa).
*Table Of Content*
*1. Executive Summary*
1.1. Market Overview
1.2. Market Analysis
1.3. FMI Analysis and Recommendations
1.4. Wheel of Fortune
*2. Market Introduction*
2.1. Market Definition
2.2. Market Taxonomy
*3. Market Background*
3.1. Macro-Economic Factors
3.2. Forecast Factors - Relevance & Impact
3.3. Value Chain
3.4. Market Dynamics
3.4.1. Drivers
3.4.2. Restraints
3.5. Opportunity Analysis
*4. Market Forecast*
4.1. Market Size and Y-o-Y Growth
4.2. Absolute $ Opportunity
*5. Global OTT Content Market Analysis by Content Type*
5.1. Introduction
5.1.1. Market Value Share Analysis by Content Type
5.1.2. Y-o-Y Growth Analysis by Content Type
5.2. Historical Market Size (US$ Mn) Analysis by Content Type, 2013-2017
5.3. Current Market Size (US$ Mn) and Forecast by Content Type, 2018-2028
5.3.1. Video
5.3.1.1. Entertainment & Infotainment
5.3.1.2. Food, Travel & Fashion
5.3.1.3. Sports Content
5.3.2. Audio
5.3.3. Games
5.3.4. Mobile Applications
5.3.5. Communications
5.4. Market Attractiveness Analysis by Content Type
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*About Future Market Insights*
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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*SOURCE: *Future Market Insights
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