According to a report, “Over-the-Top Devices And Services Market Size, Share & Trends Analysis Report By Content (VoIP, Text & Images, Video), By Revenue Source (AVOD, SVOD, TVOD), By Device (Mobile Devices & Computers, Gaming Console & STB), By Deployment, And Segment Forecasts, 2018 - 2025”, published by Grand View Research, Inc.,The global over-the-top devices & services market size is expected to reach USD 165.13 billion by 2025, according to a new report by Grand View Research, Inc. The rising penetration of mobile devices, such as tablets and smartphones, and advancements in consumer electronics devices such as smart TVs, are estimated to drive the demand for OTT content and services amongst the masses over the forecast period.
There has been a rapid surge in the demand for OTT videos, particularly in developing economies. TV digitization initiatives by various regional governments and broadcasters across the world have enabled OTT content to emerge as the popular platform for video consumption.
Businesses across various sectors are increasingly seeking contemporary technological models to provide personalized experiences to their customers, such as TV access on smartphones, connected devices, and tablets. Content providers and broadcast service providers are leveraging the benefits of OTT technology to enhance customer engagement by gaining in-depth insights about their customer base.
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Moreover, the rising demand for Video On Demand (VOD), Voice over Internet Protocol (VoIP), Subscription Video on Demand (SVOD), instant messaging services, and internet TV are expected to propel the industry growth over the forecast period. OTT service providers are increasingly focusing their efforts toward the development of various innovative features, such as Google Translate, which translates voice mail services into text, to provide convenience and enhance customer value.
Germany Over-The-Top devices and services market, by content, 2014 - 2025 (USD Billion)
Further key findings from the report suggest:
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Content providers such as DISH Network, Comcast, AT&T, and DIRECTV, are paving their way into the SVOD domain to expand their presence and capture a larger market share by providing various offerings within the domain
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OTT service providers across the globe are focusing their efforts on the development of the three key streaming technologies that include High-Dynamic Range (HDR),1080p content, 4K streaming, and Virtual Reality (VR) video
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Players such as WhatsApp, Tencent QQ, Apple FaceTime, Skype, and Google Hangouts, are upgrading their processes with new innovative technologies and offerings to provide advanced communication and messaging services
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The proliferation of hybrid models combining Subscription VOD (SVOD) with Advertising VOD (AVOD) coupled with the increasing penetration of fiber broadband and 4G internet services are expected to propel the demand for OTT content across developing nations such as China
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Growing proliferation of Smart TVs is expected to provide increasing opportunities for advertisers to become content providers and offer a wide plethora of services to consumers through various platforms such as Hulu, Netflix, and YouTube
Deployment Insight
The two key deployment types analyzed in the report include on-premise and cloud. The increasing demand for high-quality content and the emergence of VR, 4K content, and HDR are transforming the broadband industry. Moreover, the television broadcast industry is witnessing a shift from the Capital Expenditures (CAPEX) to the Operating Expenses (OPEX) model by reforming operations.
Global Over-The-Top devices and services market, by revenue source, 2016 (%)
Global Over-The-Top companies have now started focusing on revenue generation and enhancing cloud services. These companies provide various resources, such as infrastructure and platform, and bill customers for the same based on an hourly or monthly period. This revenue generation model, in some cases, leads to seasonal fluctuations in infrastructure requirements and unpredictable balancing.
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Broadcasters are now increasingly seeking to adopt new and innovative technologies to address the rising demand for OTT platforms. The internet is expected to become a major source for streaming videos, primarily owing to the growth in broadband penetration. The benefits associated with the use of cloud-based content are leveraging the growth of real-time communication such as reduced costs and improved performance.
Grand View Research has segmented the global Over-the-Top devices & services market on the basis of content, revenue source, device, deployment, and region:
Over-the-Top Devices & Services Content Outlook (USD Billion; 2014 - 2025)
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VoIP
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Text & Images
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Video
Over-the-Top Devices & Services Revenue Source Outlook (USD Billion; 2014 - 2025)
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AVOD
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SVOD
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TVOD
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Others
Over-the-Top Devices & Services Device Outlook (USD Billion; 2014 - 2025)
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Mobile devices & Computers
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Smart TVs & Set-top Box
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Gaming Console
Over-the-Top Devices & Services Deployment Outlook (USD Billion; 2014 - 2025)
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On-premise
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Cloud
Over-the-Top Devices & Services Regional Outlook (USD Billion; 2014 - 2025)
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North America
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U.S.
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Canada
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Europe
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UK
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Germany
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France
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Italy
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Netherlands
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Asia Pacific
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China
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Japan
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Southeast Asia
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South Korea
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India
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Latin America
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Mexico
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Brazil
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Middle East & Africa
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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