The OTT Streaming Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s OTT Streaming Global Market Report 2024, The ott streaming market size has grown rapidly in recent years. It will grow from $171.99 billion in 2023 to $198.07 billion in 2024 at a compound annual growth rate (CAGR) of 15.2%. The growth in the historic period can be attributed to internet penetration and connectivity, shift in consumer viewing habits, original content creation, mobile device proliferation, subscription and cost models.
The ott streaming market size is expected to see rapid growth in the next few years. It will grow to $349.83 billion in 2028 at a compound annual growth rate (CAGR) of 15.3%. The growth in the forecast period can be attributed to global expansion of ott services, integration with smart devices, emergence of hybrid content models, live and event streaming, partnerships and content agreements. Major trends in the forecast period include hybrid models and bundling services, integration of ai and personalization, sports and esports streaming, offline viewing options, ad-supported streaming options.
With the increasing change in customers’ 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, 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. For instance, in 2023, according to data by Demand Sage, a US based Software company, Netflix had 238.39 as of Q2 of 2023 and had an increase of 5.9 million global subscribers from the previous quarter . Thus, an increase in customer base is expected to boost the growth of the OTT streaming market during the forecast period.
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The ott streaming market covered in this report is segmented –
1) By Device Type: Smartphones, Smart TV’s, Laptops, Desktops and Tablets, Gaming Consoles, Set-Top Box, Other Devices
2) By Revenue Source: AVOD, SVOD, TVOD, Other Revenue Source
3) By User Type: Commercial, Personal
4) By End User: E-commerce, Media And Entertainment, Education And Training, IT And Telecom, Health And Fitness, Other End Users
Streaming on 4K televisions is a key trend in the OTT streaming market. A 4K 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 $1,000 (or even under $500) we can find a decent 4 K tv. Major streaming services such as Netflix, Disney+, and Amazon Prime Video have included premium 4 K and 4 K content in their services. FuboTV launched its first live- TV to provide coverage in 4 K with HDR. The only sports that take advantage of this improved visual quality were World Cup matches, but later the company added some NCAA football matches in 4 K.
The ott streaming market report table of contents includes:
1. Executive Summary
2. OTT Streaming Market Characteristics
3. OTT Streaming Market Trends And Strategies
4. OTT Streaming Market – Macro Economic Scenario
5. Global OTT Streaming Market Size and Growth
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26. South America OTT Streaming Market
27. Brazil OTT Streaming Market
28. Middle East OTT Streaming Market
29. Africa OTT Streaming Market
30. OTT Streaming Market Competitive Landscape And Company Profiles
Top Major Players:
- Amazon.com Inc
- Apple Inc
- Alphabet Inc
- Google LLC
- Microsoft Corporation
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