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Over the Top Services Market will reach to $156.9 billion by 2024

 



(IT-NEWSWIRE.COM, August 18, 2021 ) According to a new market research report "Over the Top Services Market by Type (Online Gaming, Music Streaming, VoD and Communication), Monetization Model (Subscription-based, Advertising-based, and Transaction-based), Streaming Device, Vertical, and Region - Global Forecast to 2024" published by MarketsandMarkets™, the Over the Top Services Market expected to grow from USD 81.6 billion in 2019 to USD 156.9 billion by 2024, at a CAGR of 14.0% during 2019–2024. Major growth factors for the market include growth broadband and fixed data connection, and increase in usage of smart devices.

Browse in-depth TOC on "Over-the-Top Services (OTT) Market”
121- Tables
35- Figures
139- Pages

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=41276741

Smartphones and Tablets segment to hold the highest market share during the forecast period

The inception of OTT video streaming platforms, such as Netflix, Hotstar, and Amazon Prime, coupled with the growing internet penetration, is responsible for the rise of smartphone and tablet usage, leading to the growth of digital content consumption and has triggered the growth of digital video consumption. OTT entertainment apps have become the most penetrated app category among smartphone users after social networking, chatting, and eCommerce apps.

Subscription-based segment to hold the highest market share during the forecast period

The subscription model owes its success to the optimal balance of value it provides to both the company and the customer. A subscription provides businesses a direct line of revenue from the consumers without having to consult or sell to advertisers. Subscription pricing strategies can be made according to functionality, discounted to motivate bulk purchases, metered according to usage levels, or optimized to reward loyalty.

North America to hold the largest market size during the forecast period

Countries that contribute the most to the OTT services market in North America include the US and Canada; the reason for the dominance of these countries is their well-established economies, which enable investments in new technologies. North America being the most developed region, is home to large verticals that are capable of investing in reliable and advanced IT infrastructure for growing data traffic, thereby opening new opportunities for the adoption of OTT solutions.

Request Sample Pages @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=41276741

Key market players profiled in the OTT services market report are Facebook (US), Netflix (US), Amazon (US), Microsoft (US), Google (US), YouTube (US), Apple (US), Home Box Office (US), Roku (US), IndieFlix (US), Vudu (US), Hulu (US), Tencent (China), Rakuten (Japan), Kakao (South Korea), and Line (Japan).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Aashish Mehra

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: 1-888-600-6441

Email: sales@marketsandmarkets.com

MnM Blog: https://mnmblog.org

Content Source: https://www.marketsandmarkets.com/PressReleases/over-the-top-ott.asp

MarketsandMarkets™

Mr. Aashish Mehra

1-888-600-6441

raviraj.tak@marketsandmarkets.com

Source: EmailWire.Com



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