According to SPER Market Research, the Global OTT Streaming Market is supposed to increase rapidly because of the rising demand for live streaming channels and the continuous improvement of OTT cloud-based administrations. However, in the upcoming years, the market growth is expected to be obliged by a shortage of information network foundations for OTT services.
An important component impeding the OTT (Over-The-Top) streaming market growth is the danger posed by robbery and illegal streaming. The fundamental source of traffic for OTT organizations is live TV streaming. Live streaming raises protection issues for them also.
OTT Streaming Market Overview (2022-2030)
- Forecast CAGR (2022-2030): 16.4%
- Forecast Market Size (2030): 553.76 billion
With the expansion of broadband, OTT players are finding it increasingly hard to oversee streaming that is unlawful and pirated. Analysts assessed that the illegal offer of video content cost the business $9.1 billion in 2019 and will cost $12.5 billion by 2024. Although Digital Rights Management (DRM) has for some time been the preferred strategy for conveying data safely and discouraging piracy since it gives copyright owners command over how and by whom their copyright might be accessed, truly it is frequently lacking.
Attackers with a reason likewise find ways of publishing data. Subsequently, it is anticipated that the threat of piracy and unlawful streaming will limit the expansion of the market. A huge improvement in the OTT (Over-The-Top) streaming market is streaming on 4K TVs. A 4K resolution, generally referred to as UHD or Ultra-High Definition, is regularly 3,840 by 2,160 pixels.
Impact of COVID-19 on the Global OTT Streaming Market:
The world is witnessing an unanticipated transformation as a result of the COVID-19 emergency, and the majority of industrial verticals are now experiencing difficulties. This crisis, however, is expected to have a positive influence on the global over-the-top sector. Many countries have enforced lockdowns to prevent the virus’s spread, which has significantly increased the amount of time individuals spend on their mobile devices. Furthermore, according to a Research Dive poll, the percentage of viewers in the entertainment business is increasing by 30%. These issues eventually drive OTT services for internet content such as video and audio services.
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Global OTT Streaming Market Key Segments Covered:
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2030. This report contains statistics on product type segment growth estimates and forecasts.
By Device Type,
- Smart TVs
- Desktops & Tablets
- Gaming Consoles
- Set-Top Box
By Revenue Source,
By User Type,
By End User,
- Media and Entertainment
- Education and Training
- IT and Telecom
- Health and Fitness
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends, and strategies for this market. It traces the market’s historic and forecast market growth by geography.
Global OTT Streaming Market Key Players:
The market study provides market data by the competitive landscape, revenue analysis, market segments, and detailed analysis of key market players such as; Amazon.com, Inc., Apple, Inc., Facebook, Inc., Google, Inc., Hulu, Kakao Corp., LLC, Microsoft Corporation, Netflix, Inc., Rakuten Inc., Tangent, YouTube.
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SPER Market Research
Smith Williams, Business Consultant – USA