Global Over the top services Market is valued at USD 912.4 billion in 2016 is anticipated to grow USD 3634.7 billion with the compounded annual growth of 16.6% over the forecast period 2017-2025.
New York 7 July 2018, As per the new research study conducted by Bizwit Research & Consulting, Global Over the top services industry is poised to raise USD 3634.7 billion by 2025. Some key components for the market development will be; OTT services is poised to rise exponentially in the coming years. Likewise, affordable rates of the high-speed mobile internet have bolstered the adoption of OTT market at large, Smartphone penetration and affordable high-speed mobile internet packages are also the major drivers for the OTT service market.
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Global Over the top services Market Size study, by Application (communication, E-Services (media content, audio/video, gaming), web content, cloud services), by end use (personal, commercial (healthcare, media & entertainment, e-commerce, IT, education, others), and by Regional Forecasts 2017-2025
The industry seems to be fairly competitive. Some of the leading market players include Amazon Inc., Twitter Inc., Netflix Inc., Dropbox Inc., Google Inc., LinkedIn Corporation, Skype, and so on. Other market players discussed in the report include Apple Inc., Hulu LLC., Rakuten Inc. Evernote Corporation. New product launches, acquisitions, and mergers are some of the strategies adopted by the key manufacturers. Additionally, the fierce competitiveness has made these players spend in product developments to improve the customer’s requirements.
Key findings of the study:
- Premium and subscription segment is expected to increase owing to the increase in revenue of OTT media content and cloud service applications.
- The Asia Pacific region will be the highest growing segment with respect to geographical segmentation by around XX%
- The commercial segment emerged dominant in the OTT services market.
Bizwit Research & Consulting LLP has considered the following segments for the study:
- Media content
- Web content
- Cloud services
By End Use:
- Media & entertainment
- North America
- Asia Pacific
- Latin America
- Rest of the World