How Will the Over The Top Devices And Services Market Grow? Key Trends and Opportunities for 2025 and Beyond
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How has the over the top devices and services market size evolved in recent years?
The market size of over-the-top devices and services has seen a phenomenal increase in the past years. The projected growth will take it from $311.88 billion in 2024 to $385.3 billion in 2025, with a compound annual growth rate (CAGR) standing at 23.5%. This rapid development during the historic period is credited to the extensive spread of high-speed internet, the rise in smartphone usage, changes in consumer habits, content globalization, and the production of original content.
What are the predictions for the over the top devices and services market size in the coming years?
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What key factors are fueling the growth of the over the top devices and services market?
The over-the-top devices and services market is projected to grow thanks to the increasing number of OTT subscriptions. Over-the-top, or OTT, platforms are internet-based streaming services that provide programs traditionally offered by cable TV providers. These platforms, which are widely used due to their simplicity and extensive content, require subscription fees and can be accessed via any device connected to the internet. For example, data from Digital TV Research, a research firm based in the UK, reveals that SVOD revenue is likely to escalate from $31 million in 2022 to $50 million by 2028. Moreover, the number of SVOD subscriptions is set to soar, climbing from 308,000 at the close of 2022 to 513,000 by 2028. It is estimated that around 63% of TV households will be subscribed to at least one SVOD service by 2028. Hence, the growth in OTT subscriptions is fueling the expansion of the over-the-top devices and services market.
How is the global over the top devices and services market divided into key segments?
The over the top devices and services market covered in this report is segmented –
1) By Content: VoIP, Text And Images, Video
2) By Revenue Source: Advertising video on demand (AVOD), Subscription video on demand (SVOD), Transactional based video on demand(TVOD)
3) By Deployment: On-Premise, Cloud
4) By Streaming Platform: Mobile Devices, Computers, Smart TVs and Set Tops, Gaming Consoles
Subsegments:
1) By VoIP: Voice Calling, Video Calling, Text and Images
2) By Messaging Services: Image Sharing Platforms, Video
3) By Video: Streaming Services, Live Broadcasting Platforms
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Who are the key firms paving the way for growth in the over the top devices and services market?
Major companies operating in the over the top devices and services market include Amazon.com Inc., Apple Inc., Alphabet Inc., The Walt Disney Company, Tencent Holdings Limited, Discovery Inc., Netflix Inc., ViacomCBS Inc. (Paramount Global), Sling TV, Tubi Inc., Hulu LLC, Roku Inc., fuboTV Inc., Pluto TV, Peacock LLC, Sony Pictures Networks India Private Limited, HBO Max (now Max), Vimeo Inc., Disney+ Hotstar, Brightcove Inc., Haivision Inc., Rakuten Viki Inc., CuriosityStream Inc., Philo LLC, Kanopy Inc., Acorn TV, Shudder LLC, Bell Media Inc.
Which trends are expected to transform the over the top devices and services market?
Leading corporations involved in the over the top devices and services market encompass Amazon.com Inc., Apple Inc., Alphabet Inc., The Walt Disney Company, Tencent Holdings Limited, Discovery Inc., Netflix Inc., ViacomCBS Inc. (Paramount Global), Sling TV, Tubi Inc., Hulu LLC, Roku Inc., fuboTV Inc., Pluto TV, Peacock LLC, Sony Pictures Networks India Private Limited, HBO Max (now Max), Vimeo Inc., Disney+ Hotstar, Brightcove Inc., Haivision Inc., Rakuten Viki Inc., CuriosityStream Inc., Philo LLC, Kanopy Inc., Acorn TV, Shudder LLC, and Bell Media Inc.
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What regions are contributing significantly to the growth of the over the top devices and services market?
North America was the largest region in the over-the-top devices and services market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global over-the-top devices and services market report during the forecast period. The regions covered in the over the top devices and services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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