Global Video Streaming OTT Platform Market – Industry Trends and Forecast to 2031

Video Streaming OTT Platform Market Analysis and Size

OTT is a relatively new idea, therefore there is plenty of possibility for growth. The OTT industry is being embraced by many companies, providing users with a variety of options and offering advertisers access to additional ad content. OTT services are the most effective way to reach these customers because more people are choosing internet media services over cable. Surging availability of new and good content over the internet, growing awareness about new and existing video streaming services and platforms and surge in the proliferation of smartphones and high speed internet as a result of rapid globalization are the major factors attributable to the growth of the market.

Data Bridge Market Research analyzes that the global video streaming OTT platform market was valued at USD 106.83 billion in 2023 and is expected to reach USD 507.34 billion by 2031, registering a CAGR of 21.5% during the forecast period of 2024-2031. Subscription-based is expected to dominate the market due to the increasing consumer preference across the region. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Report Scope and Market Segmentation

Market Definition

Over the top (OTT) services are the entertainment services that are easily accessible by the user directly over the internet over designated platforms. Over the top services can be availed and enjoyed on consumer electronics such as smartphones, laptops, tablets, i-pads and so on. The word "over-the-top" itself denotes that a content provider is going above and beyond what is already offered online. OTT is a media distribution method that serves as a modern alternative to traditional media distribution methods, such as satellite and cable television. This is the technology that powers the streaming services that you know and love, such as Hulu and Netflix. OTT can be used to distribute both live and on-demand video content.

Global Video Streaming OTT Platform Market Dynamics

Driver

• Growing Availability of a Wide Variety of OTT Content

OTT stands for Over-the-Top, which means streaming across different devices whenever the consumer wants, enabling the consumer to bypass the traditional broadcast techniques of broadcasting film and TV content over the internet without cable, satellite, or pay-tv providers.

In simple terms, the consumer is paying an internet provider such as Xfinity for accessing content from Netflix and others without paying for cable TV. OTT services have rapidly grown due to the rise in penetration of smart mobile phones, smart TV, and strong high-speed infrastructure. OTT content can be accessed easily through mobile OTT devices, personal computers, and smart TVs, this is a major factor for driving the market.

Opportunity

• Integration of Artificial Intelligence

One of the biggest advantages of AI/ML technology in the OTT industry is its capacity to push content specific to the interests of the consumer. If you display content to people based on their interests, they are more likely to watch it. It will drive content consumption. AI can be leveraged to determine the preferences of customers.

Restraint/Challenge

• Retaining Users/Subscribers

One of the most challenging problems that OTT providers face is keeping their audience. Among the various concerns in this issue are, providing the content that viewers seek, providing high-definition video, advertisement content should be non-intrusive and allow viewers to bypass it if they so desire

This video streaming OTT platform market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the video streaming OTT platform market, contact data bridge market research for an analyst brief, our team will help you take an informed market decision to achieve market growth.

Recent Development

• In March 2023, Brightcove, Inc., a U.S.-based internet company, announced integrations with Instagram, Shopify, and Salesforce Sales Cloud to their video cloud platform. This integration aims to enable companies to reach, capture, and activate audiences with interactive, immersive, and live and on-demand video content
• In March 2023, IBM Watson Media, an American virtual events platform company, announced some event registration features integrated into IBM Enterprise Video Streaming. This enterprise video streaming registration form feature aims to enable customers to manage events more efficiently

Global Video Streaming OTT Platform Market Scope

The video streaming OTT platform market is segmented on the basis of monetization model, type, streaming device, service vertical, content type, platform, service type and user type. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

 Monetization Model

• Subscription-Based
• Advertising-Based
• Transaction-Based

Type

• Online Gaming
• Music Streaming
• Video On Demand
• Communication
• Others

Streaming Device

• Smartphones and Tablets
• Desktops and Laptops
• Internet Protocol Television and Consoles

Service Vertical

• Media and Entertainment
• Education and Learning
• Gaming and Service Utilities

Content Type

• Voice Over IP
• Text and Image
• Video

Platform

• Smart Devices
• Laptops
• Desktops and Tablets
• Set Top Box
• Gaming Consoles
• Others

Service Type

• Consulting
• Installation and Maintenance
• Training and Support
• Managed Services

User Type

• Small Office or Home Office
• Small and Medium Enterprises (SME)
• Large Enterprises

Global Video Streaming OTT Platform Market Region Analysis/Insights

The video streaming OTT platform market is analyzed and market size insights and trends are provided by country, monetization model, type, streaming device, service vertical, content type, platform, service type and user type as referenced above.

The countries covered in the market report are U.S., Canada, Mexico, Brazil, Argentina, rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, and rest of the Middle East and Africa.

North America is expected to dominate the market due to the occurrence of major players. Furthermore, the growing adoption of these platform services will further boost the growth of the video streaming OTT platform market in the region during the forecast period.

Asia-Pacific is expected to observe be the fastest growing in the market due to the rise in the demand from growing population and young generation.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Semiconductor Infrastructure growth Installed base and New Technology Penetration

The video streaming OTT platform market also provides you with a detailed market analysis for every region’s growth in healthcare expenditure for capital equipment, installed base of different kinds of products for the video streaming OTT platform market, the impact of technology using lifeline curves, and changes in battery regulatory scenarios and their impact on the video streaming OTT platform market. The data is available for the historic period 2010-2020.

Competitive Landscape and Global Video Streaming OTT Platform Market Share Analysis

The video streaming OTT platform market is analyzed, and market size information is provided by country, design & channel. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the video streaming OTT platform market.

Some of the major players operating in the video streaming OTT platform market are:

• Google LLC (U.S.)
• Apple Inc. (U.S.)
• Amazon.com, Inc. (U.S.)
• AT&T Intellectual Property. (U.S.)
• STAR (India)
• Twitter, Inc. (U.S.)
• Hulu, LLC (U.S.)
• Comcast (U.S.)
• BT (U.K.)
• Cox Communications, Inc. (U.S.)
• Facebook (U.S.)

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