The ott streaming market has seen considerable growth due to a variety of factors.
• The size of the OTT streaming market has seen rapid expansion over the past few years. It's projected to surge from $195.68 billion in 2024 to $224.55 billion in 2025, boasting a compound annual growth rate (CAGR) of 14.8%.
The rate of expansion in the earlier period has been driven by factors such as improved internet access and connectivity, a change in consumer viewing preferences, the creation of original content, the spread of mobile device usage, as well as evolving subscription and pricing models.
The ott streaming market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the OTT streaming market is projected to witness significant expansion, growing to a substantial $406.04 billion in 2029 with a compound annual growth rate (CAGR) of 16.0%.
This anticipated growth within the forecast period can be attributed to factors such as the worldwide expansion of OTT services, their integration with smart devices, the emergence of hybrid content models, live and event streaming, and partnerships and content agreements. Notable trends expected throughout the forecast period include hybrid models and bundling services, integration with artificial intelligence and personalization techniques, sports and esports streaming, the availability of offline viewing options, and the option for ad-supported streaming.
The gradual shift in consumer's social behaviour from conventional subscription services to broadcasting and over-the-top (OTT) services for on-demand video and music is accelerating. This is driving the rapid growth of OTT streaming predicted in the upcoming period. A growing number of people are now choosing video streaming services over typical television entertainment, thanks to perks like on-demand services and easy accessibility. For instance, Netflix, a software company based in the US, recorded 238.39 million subscribers in Q2 of 2023, with a notable jump of 5.9 million global subscribers from the previous quarter, as per the data from Demand Sage. Therefore, an expanding customer base is likely to fuel the expansion of the OTT streaming market during the forecast period.
The OTT streaming market covered in this report is segmented –
1) By Device Type: Smartphones, Smart TV's, Laptops, Desktops and Tablets, Gaming Consoles, Set-Top Box, Other Devices
2) By Revenue Source: AVOD, SVOD, TVOD, Other Revenue Sources
3) By User Type: Commercial, Personal
4) By End User: E-commerce, Media And Entertainment, Education And Training, IT And Telecom, Health And Fitness, Other End Users
Subsegments:
1) By Smartphones: Android Phones, IPhones
2) By Smart TVs: Android TVs, Roku TVs, Fire TVs
3) By Laptops: Windows Laptops, MacBooks, Chromebooks
4) By Desktops And Tablets: Windows Desktops, IMacs, IPads, Android Tablets
5) By Gaming Consoles: PlayStation, Xbox, Nintendo
6) By Set-Top Box: Roku, Apple TV, Amazon Fire TV
7) By Other Devices: Projectors, Streaming Sticks
One major trend in the OTT streaming market is 4K television streaming. Known as UHD or Ultra-High Definition, 4K resolution usually refers to a pixel resolution of 3,840 by 2,160. This provides the highest level of high-definition video quality available to viewers of movies, TV shows, and sports. Today, most new TVs are compatible with 4K, though they can be expensive, good 4K TVs can be found for less than $1,000, or even less than $500. Major streaming platforms like Netflix, Disney+, and Amazon Prime Video include premium 4K content in their offerings. FuboTV was the first to offer live-TV in 4K with HDR. Initially, only World Cup games utilized this superior visual quality, but the firm later added some NCAA football matches in 4K.
Major companies operating in the OTT streaming market include:
• Amazon.com Inc.
• Apple Inc.
• Alphabet Inc.
• Google LLC
• Microsoft Corporation
• AT&T Inc.
• The Walt Disney Company
• Tencent Holdings Limited
• Discovery Inc.
• Netflix Inc.
• Paramount Global
• Disney DTC LLC
• Sling TV LLC
• ESPN Inc.
• Rakuten Inc.
• Telstra Corporation Limited
• WarnerMedia LLC
• Hulu LLC
• Kakao Corporation
• Lions Gate Entertainment Corp.
• Roku Inc.
• AMC Networks Inc.
• Peacock TV LLC
• fuboTV Inc.
• ViacomCBS Pvt. Ltd.
• IndieFlix Group Inc.
• Philo Inc.
• Vudu Inc.
• BBC Studios and ITV plc
• CuriosityStream Inc.
• Crunchyroll LLC
• Funimation Global Group LLC
• Kanopy Inc.
• MUBI Inc.
• Tubi Inc.
• Comcast Corporation
• Zee Entertainment Enterprises Limited
Asia-Pacific was the largest region in the OTT market in 2024. Middle East is expected to be the fastest-growing region in the global OTT streaming market share during the forecast period. The regions covered in the OTT streaming market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.