The global OTT content market is projected to hit US$434.98 billion by 2032, growing at a robust 17.4% CAGR from 2022 to 2032. Starting at an estimated US$87.46 billion in 2022, this growth is driven by increased market penetration and rising demand for subscription services in emerging economies. The surge in live-streaming channels also contributes to the market’s expansion.
The global expansion of 4G and the rapid development of 5G infrastructure are driving growth in the OTT content market. Increasing access to high-speed bandwidth, a crucial factor for optimal OTT service, is boosting market demand. The widespread availability of affordable high-speed internet and smartphones is further fueling the demand for OTT content. Additionally, the growing preference for SVOD (Subscription Video on Demand) over traditional TV services is contributing to the market’s growth.
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Again, a rising demand for original and variety media content and increasing availability of the same further amplifies the growth of OTT content market in the global space. In addition to this, the advancing popularity of video games and animated content on different gaming platforms is expected to create profitable market possibilities for OTT content. Other factors like the availability of Freemium models, live streaming channels, high quality offerings by social media and other applications will aid the expansion of the OTT content market during the forecast period.
“Dominant presence of different social media platforms coupled with mass acceptance by the consumers will augment the global growth of the OTT content market over the forecast period,” says an FMI analyst.
Key Takeaways from the OTT Content Market Report:
- Growing commoditization of sporting services will generate lucrative opportunities for the target market.
- Strict government regulations and low bandwidth are some factors that may stunt the market growth.
- By access type, the smartphone and tablet segment will register an astounding CAGR of 40% in 2022.
- On the basis of the revenue model, Subscription-based Video on Demand (SVOD) will record high demand during the assessment period.
- High Spending on animated content will drive the target market in the United States.
- China will dominate the OTT content market in the Asia Pacific region.
- OTT services are registering a high growth rate in India.
Key Players:
- Disney+ Hotstar
- Apple Inc.
- Brightcove Inc.
- Google Inc.
- Limelight Networks Inc.
- Roku Inc.
- Tencent Holdings Ltd.
- Alphabet Inc.
- Comcast Corp.
- Sirius XM Holdings Inc.
- Spotify Technology SA
- The Walt Disney Co.
Leading market players are focusing on strategic collaborations and partnerships to increase their market share. These organizations also engage in product innovation and introduce new streaming platforms and services to expand their consumer base.
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More Insights into OTT Content Market Report
In its latest report, FMI offers an unbiased analysis of the global OTT content market, providing historical data and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of content type (video, audio, games, mobile applications, communications), access type (OTT streaming devices, desktops & laptops, smartphones & tablets, smart TVs), revenue model (SVOD services, AVOD services, TVOD services, live streaming services), and region.
According to the latest FMI reports, based on segmentation, the SVOD revenue type will likely be a prime contributor to the overall market growth. This segment will register high demand during 2022-2032. The smartphone & tablet access type will expand at a startling 40% CAGR during the forecast period owing to the advancements in telecommunication technologies as well as the optimal pricing of 4G and 5G-enabled phones.
Based on region, the United States will register tremendous growth in the OTT content market in North America. This growth can be attributed to the strong presence of animated content creators as well as rising demand for the same. Again, an estimated 64 Mn homes are accustomed to OTT in the U.S. Both of these considerations fuel the target market growth in North America. In Asia Pacific, India and China, too, will present impressive growth over the forecast period.
Key Segments Profiled in the OTT Content Market Survey
By Content Type:
- Video
- Audio
- Games
- Mobile Applications
- Communication
By Access Type:
- OTT Streaming Devices
- Desktops & Laptops
- Smartphones & Tablets
- Smart TVs
By Revenue Model:
- SVOD Services
- AVOD Services
- TVOD Services
- Live Streaming Services
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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