PUNE, India, Feb. 19, 2020 /PRNewswire/ -- The global over-the-top services market size is projected to reach USD 86.80 billion by 2026 . The increasing number of smartphone users will have a positive impact on the growth of the market in the coming years. According to a report published by Fortune Business Insights , titled " Over-The-Top (OTT) Services Market Size, Share & Industry Analysis, By Service (Online OTT Services, Managed OTT Services), By Type (OTT Communication services, OTT Media services, and OTT Applications services), By Platform (Smartphones, Smart TV's, Laptops Desktops and Tablets and Others), and Regional Forecast, 2019-2026," the market was worth USD 30.23 billion in 2018 and will exhibit a CAGR of 14.3% during the forecast period, 2019-2026.
Over-the-top services are digital video content providers over several platforms such as tablets, smartphones, and gaming consoles. The constantly rising number of smartphone users across the world will have a huge impact on the growth of the overall OTT services market in the coming years. The adoption of cloud, driven by its ease of availability of cloud services, will emerge in favor of OTT service providers. The huge adoption of OTT services across diverse industry verticals including education, information and technology, and e-commerce will create several growth opportunities. Moreover, the rising adoption of mobile commerce will contribute to the growth of the market.
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The report provides an in-depth analysis of the global over-the-top services market. It highlights the latest product launches and labels major innovations in the market. In addition to this, it states the impact of these products on the growth of the market. The competitive landscape has been discussed in detail and predictions are made with respect to leading companies and products in the coming years. Forecast values have been provided for the market for the period of 2019-2026. The factual figures have been obtained through trusted sources. Moreover, these predictions are made on the basis of extensive research analysis methods, coupled with the opinions of experienced market research professionals.
Increasing Number of Company Collaborations Will Aid Growth
The report encompasses several factors that have contributed to the growth of the market in recent years. With a bid to establishing a commendable position in the market, several large scale companies are looking to acquire small and medium enterprises. In December 2019, Netflix Inc. announced that it has collaborated with Abla Fahita. Netflix's collaboration with Abla Fahit was aimed at producing its second Egyptian Original series. Through this collaboration, the company plans to expand in the Middle East market. Netflix's latest OTT service will have a massive impact on the growth of the market in the forthcoming years.
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North America Holds a Dominant Market Share; Presence of Several Large Scale Companies Will Provide Impetus to Market Growth
The report analyzes the ongoing over-the-top market trends across North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among these regions, the market in North America currently holds the highest OTT market share. The massive investment by leading OTT service providers such as Netflix will aid the growth of the regional market. As of 2018, the market in North America was worth USD 12.97 billion and this value is likely to increase further in the coming years.
List of few leading companies that are operating in the global over-the-top services market are:
Telstra Corporation Ltd.
October 2019 – Rokuten, Inc. has reached an agreement for the purchase of Dataxu, a a Boston-based video-demand platform. Through this acquisition Rokuten will look to strengthen its OTT advertising platform.
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Table of Content:
Global Over the Top (OTT) Services Market Analysis, Insights and Forecast, 2015-2026
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