Major players in the over the top content (OTT) streaming market are Facebook, Netflix, Amazon, Microsoft, Google, Apple, Hulu, Tencent, Rakuten, and YouTube.
The Global
OTT Streaming Market is expected grow from USD 104.11 billion in 2019
to USD 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
USD 169.4 billion in 2023 at CAGR of 14.0% from 2021.
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.
Northa America was the largest
region in OTT streaming market in 2019.
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 USD
1,000 (or even under USD 500) we can find a decent 4 K tube. Major streaming
services such as Netflix, Disney+ and Amazon Prime Video have included premium
4 K and 4 K content in their services. FuboTV became the first live- TV to
provide coverage in 4 K with HDR in July 2018. The only sports that take
advantage of this improved visual quality were World Cup matches in 2018, but
later the company added some NCAA football matches in 4 K.
The OTT streaming market covered in
this market is segmented by device type into smartphones; smart tv's; laptops,
desktops and tablets; gaming consoles; set-top box; others and by revenue
source into AVOD; SVOD; TVOD; others.
The threat from piracy and illegal
streaming is a key factor hindering the growth of the OTT (Over-The-Top)
streaming market. Streaming live TV channels leads to the OTT players' bulk of
traffic. They are also subject to privacy concerns in live streaming. OTT
players are finding it increasingly difficult to monitor piracy and illegal
streaming with the growth of broadband. The illegal sale of video content in
2019 cost the industry USD 9.1bn, with analysts predicting it would hit USD
12.5bn by 2024. Even though Digital Rights Management (DRM), allowing copyright
owners to decide how and by whom their copyright can be accessed, has always
been the go-to-choice for delivering content securely and preventing piracy,
the fact remains that it is often not sufficient. Motivated attackers also find
ways to get information published. Therefore, the threat from piracy and
illegal streaming is expected to limit the growth of the OTT streaming market.
In March 2019, The Walt Disney
Company, a media and entertainment conglomerate acquired 21st Century Fox for
USD 71 billion and now owns Hotstar. Through this acquisition, Hotstar is now
rebranded as Disney+Hotstar localising Disney+ movies and shows by dubbing or
adding subtitles in Indian languages. Hotstar is an over-the-top streaming
service owned by Novi Digital Entertainment, a subsidiary of Star India.
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. Various segments of the population have started
using video streaming services instead of regular television for entertainment
due to added benefits such as on-demand services and ease of access. Countries
such as India and China are expected to see an exponential rise in the number
of content streaming users in video on streaming and pay per view services. In
March 2018, OTT content streaming service, Netflix, announced its plans to add
100 million users from India to their existing 125-million base worldwide. The
increase in customer base boost the growth of OTT streaming market.
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Ankur Gupta, Head Marketing &
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