Some of the primary growth drivers for the over-the-top (OTT) market are the growing preference for cloud streaming services, renewal of shows across online streaming channels, and growing adoption of target advertisement-based streaming apps. However, factors such as illegal downloading and piracy may challenge market growth. Many countries have easy availability of content but lack digital piracy laws. This enables consumers to download data without any consequences. As a result, many individuals do not opt for OTT streaming services.
The over-the-top (OTT) market is expected to grow by USD 314.65 bn from 2020 to 2025. The growth momentum of the market will decelerate at a CAGR of 22.58% during this period. The market is expected to post a year-over-year growth rate of 25.36%.
- 34% of the growth will originate from North America.
- The US and Canada are the key countries for the over-the-top (OTT) Market in North America.
- Market growth in this region will be faster than the growth of the market in Europe, APAC, South America, and MEA.
- The over-the-top (OTT) market size is expected to decelerate at a CAGR of 22.58% during the forecast period.
- The over-the-top (OTT) market is segmented by type (video, text and images, VoIP, and music streaming) and geography (North America, Europe, APAC, South America, and MEA).
- The market is fragmented due to the presence of many vendors holding significant market share.
- The research report offers information on several market vendors, including 8×8 Inc., Alphabet Inc., Amazon.com Inc., Apple Inc., Comcast Corp., Microsoft Corp., Netflix Inc., Sirius XM Holdings Inc., Spotify Technology SA, and The Walt Disney Co.