Insights Into The Over The Top Devices And Services Market’s Growth Opportunities Through 2023-2032 – Includes Over The Top Devices And Services Market Research
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The growing number of OTT subscriptions is likely to stimulate innovation in the production of over-the-top devices and services, propelling the market over the forecast period.
The global over-the-top devices and services market is expected to grow from $204.70 billion in 2022 to $250.11 billion in 2023 at a compound annual growth rate (CAGR) of 22.2%. The global over the top devices and services market size is expected to reach $569.11 billion in 2027 at a CAGR of 22.8%.
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Global Over-The-Top Devices And Services Market Segments Include:
- By Content: VoIP, Text And Images, Video
- By Revenue Source: Advertising video on demand (AVOD), Subscription video on demand (SVOD), Transactional based video on demand (TVOD)
- By Deployment: On-Premise, Cloud
- By Streaming Platform: Mobile Devices, Computers, Smart TVs and Set Tops, Gaming Consoles
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global over-the-top devices and services market in 2021.
Major Market Players in the over-the-top devices and services market include Netflix Inc, Amazon.com, Hulu LLC, Apple Inc., Roku Inc., Disney+ Hotstar, Tencent Holdings Ltd., Microsoft Corp., Google Inc, The Walt Disney Company, Twitter Inc.
Technological developments are a crucial trend that is gaining traction in the market for over-the-top devices and services. Major players in the over-the-top devices and services business are focusing on providing novel solutions to increase their market position. For example, Netflix, a US-based streaming media firm, unveiled a new ‘Mystery Box’ feature in May 2022 to assist kids discover new content. It is a tool designed to help children discover new films and TV shows. This new feature seeks to make receiving fresh recommendations for children more enjoyable and intriguing. According to the company, the new feature will provide youngsters with a personalised experience that will allow them to select their next favourite movie or television show or even reconnect with a well-known character.
The Over The Top Devices And Services Global Market Report 2023 provides a over-the-top devices and services market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The over-the-top devices and services market forecast analyzes over-the-top devices and services market size, over-the-top devices and services market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Over-the-top, or OTT, devices and services are those that transfer material via a high-speed Internet connection as opposed to content shared by traditional distributors such as broadcasters, cable operators, and IPTV operators. The term ‘over-the-top’ refers to a content provider who offers extra services in addition to those currently available via the internet.
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