Over The Top Content Market – Overview
Over the top content refers to content delivery, applications and services over the internet that do not utilize traditional distribution methods. Services that utilize the OTT method also cost relatively less than traditional methods of distribution. Since OTT method of distribution uses the internet to deliver TV and film content like cable providers they use the network infrastructure that is maintained and owned by ISPs. This has caused a certain level of disruption for the traditional cable service providers because of the migration of consumer interest towards third-party firms that offer over-the-top applications.
According to a report by Market Research Future on Over the Top Content (OTT) Market Research Report- Global Forecast 2023 states that domain is expected to grow approximately by USD 87 Billion by 2023 at a 14% CAGR rate between 2017 and 2023. The introduction of OTT in content has allowed consumers to pay their cable company for internet access but discontinue their cable package to use faster and relatively inexpensive streaming content online. Due to the level of convenience offered and high popularity levels OTT is gaining higher levels of demand in both emerging as well as mature markets. The rise in its popularity levels have prompted various major OTT providers to direct their investments heavily towards international expansion. OTT providers also expect to gain large shares of revenue from ad supported OTT video outside USA in the coming years.
Though OTT subscribers are the smallest percentage of the market today, the market trends predict a rise in their numbers within a few years. One of the most important factor that is driving their growth are the number of pricing and viewing options offered, as they are not restricted to limited program options to choose from. However continual growth can be assured if the OTT providers implement agility, innovation, and an emphasis on customer satisfaction in their development plans. Other important driving factors include technology, payments and partnerships.
Device and delivery limitations coupled with bandwidth limitation challenges leading to concerns around quality of service are some of the factors that may cause limitations for the growth of this sector. With OTT market’s ability to offer content personalization to consumers on their devices will lead to staggering growth levels in the market.
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Competitive Outlook
Google, Inc. (U.S.), Apple, Inc. (U.S.), Hulu LLC. (Santa Monica), Facebook (U.S.), Tencent Holdings Limited (China), Netflix, Inc. (U.S.), Limelight Networks, Inc. (India), ActiveVideo Networks, Inc. (U.S.), Nimbuzz (Netherlands), Brightcove Inc. (Boston, USA), Roku, Inc. (USA),Microsoft Corporation (U.S.)
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Segmentation
By type, it is segmented into diameter interworking function (IWF), diameter routing agent (DRA), diameter edge agent (DEA), and others.
By application, it is segmented into voice over LTE (VoLTE), LTE broadcast, policy, and mobility.
Regional Analysis
The global Over The Top Content market, by region, has been segmented into North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
APAC accounted for the largest market share in 2018 with a market value of USD 921.38 million. It is expected to register a CAGR of 44.7% during the forecast period. It is expected to register the highest number of messages per second (MPS) in the coming years as compared to the other regions owing to increasing adoption of LTE- and VoLTE-based services, thereby increasing the demand for Over The Top Content protocol. The presence of key players focusing on developing solutions for Over The Top Content is further driving the market growth.
Europe is expected to register the highest CAGR of 49.4% during the forecast period. The rising mobile adoption rate and Internet services in Europe along with government initiatives which support the development and implementation of 5G technology are expected to fuel the market growth in the region. The rise of mobile network operators and the number of smartphone subscribers are expected to spur the demand for Over The Top Content. According to the Global System for Mobile Communications (GSM) report of 2017, 4G connections can reach 61% by 2020.
North America is expected to experience a steady growth rate during the forecast period owing to the large number of subscribers in Canada, the U.S., and Mexico. The switch to online learning, work from home (WFH) options, and the COVID-19 pandemic has increased bandwidth usage and can propel the global Over The Top Content market growth in the region.
