Global OTT Streaming Market Report 2020 - Opportunities And Strategies, Market Forecast And Trends
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The global OTT streaming market is expected grow from $104.11 billion in 2019 to $161.37 billion in 2020 at a compound annual growth rate (CAGR) of 55.0%. The exponential growth is mainly due to the lockdown owing to the COVID-19 outbreak during which the subscription to various OTT streaming channels and viewership has increased. The market is then expected to stabilize and reach $169.4 billion in 2023 at CAGR of 14.0% from 2021. The increasing change in customer’s social behavior, which is shifting from traditional subscriptions to broadcasting services and to over-the-top (OTT) on-demand video and music subscriptions every year, the OTT streaming in the forecast period is expected to grow at a very fast pace.
The over the top content (OTT) streaming market consists of sales of over-the-top content (OTT) streaming services and related products that provides streaming video through internet. Examples of well-known OTT players include Apple TV, iTunes, Netflix, Roku, Hulu, Amazon among others.
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The global OTT streaming market is further segmented based on device type, revenue source and geography.
By Device Type: Smartphones, Smart TV`s, Laptops, Desktops and Tablets, Gaming Consoles, Set-Top Box, Others.
By Revenue Source: AVOD, SVOD, TVOD, Others.
By Geography: The global OTT streaming market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North American OTT streaming market was the largest region in the global OTT streaming market 2019.
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Trends In The OTT Streaming Market
The streaming on 4K televisions is a key trend in the OTT(Over-The-Top) streaming market. A 4 K resolution is typically 3,840x 2,160 pixels and is also known as UHD or Ultra-High Definition. This is the highest level of high-definition video quality available to film, television and sports viewers these days. Nowadays most of the latest TVs are 4 K compliant. They are extremely costly but for under $1,000 (or even under $500) we can find a decent 4 K tube.
OTT Streaming Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides OTT streaming market overviews, analyzes and forecasts market size and growth for the global OTT streaming market, OTT streaming market share, OTT streaming market players, OTT streaming market segments and geographies, OTT streaming market’s leading competitors’ revenues, profiles and market shares. The OTT streaming market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.