Published Date : Nov 07, 2016
ALBANY, NY, Nov 07, 2016: The new study on the global market for OTT devices and services, according to which the market’s opportunity is likely to expand at an exponential CAGR of 20.60% during the period from 2016 and 2020.
The report is titled “Global OTT Devices and Services Market 2016–2020” and presents a comprehensive evaluation of the worldwide market for OTT devices and services on the basis of key trends, growth drivers, restraints, opportunities. The past and current performance and the growth rate of this market have also been considered in this study in order to determine its future status.
According to the research report, the increase in the production of in-house web series is the key factor behind the significant progression of the global market for OTT devices and services. The growing demand for time-shifted TV is also influencing the adoption of OTT devices and services remarkably across the world.
In addition to this, the advent of video streaming devices in the global market is likely to boost the market further over the next few years. However, the low scope of client retention may pose as a serious difficulty in the growth trajectory of this market in the years to come, notes the research report.
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The study assesses the global market for OTT devices and services on two fronts: The product type and the geography. Based on the product type, the market has been categorized into text and images, video, and VoIP. The video segment led the overall market in 2015 with a share of more than 87% in terms of revenue. With the increasing number of viewers opting for streaming services over downloading, the video segment is expected to remain dominant throughout the forecast period, notes the market study.
Geographically, the worldwide OTT devices and services market has been classified into Asia Pacific (APAC), the Americas, and Europe, the Middle East and Africa (EMEA). The America has been dominating this market and is expected to continue its leading streak over the forecast period. This regional market is projected to account for a share of more than 49% by 2020, states the report
The research study also presents a competitive assessment of the global market for OTT devices and services. As per the report, the market is highly fragmented due to the presence of a number regional as well as international participants. Amazon, Facebook, Apple, Netflix, and Hulu are the leading providers of OTT devices and services across the world.
These enterprises are expected to rise inorganically by acquiring regional players. Other prominent companies in this market are Activevideo, Akamai Technologies, CinemaNow, Indieflix, Google, Nimbuzz, Roku, and Popcornflix, reports the research study.
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