The global Ott Content Market is estimated to be valued at US$ 132.68 Bn or Mn in 2023 and is expected to exhibit a CAGR of 14.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
The Ott Content Market comprises of streaming devices and TV sets with OTT applications and services integrated in them providing video and audio content to users through an open network. These services provide on-demand access to tv shows, movies and videos without requiring users to subscribe to traditional cable or satellite pay-tv services.
Market key trends:
One of the key trends in the Ott Content Market is the increasing adoption of OTT services among consumers as it provides convenience of accessing content anywhere and anytime on various devices. OTT players are investing heavily in developing original content in regional languages and genres to attract more subscribers and increase viewer engagement on their platforms. They are also actively working with independent content creators to develop exclusive short form content.
Strength: The Global Ott Content Market Size has high growth potential due to increased availability of high-speed internet and rise in adoption of smart devices. It allows viewing content anytime, anywhere on any device.
Weakness: Piracy is a major issue as content can be easily shared without permission. Network connectivity issues may disrupt streaming.
Opportunity: Emerging markets offer huge untapped potential. Growth of 5G networks will boost video streaming quality. Original content production is expanding scope.
Threats: Stiff competition from other players limits customer acquisition. Changes in government regulations can impact market growth.
The global OTT content market is expected to witness high growth, exhibiting CAGR of 14% over the forecast period, due to increasing availability of high-speed internet and proliferation of smart devices.
The Asia Pacific region is projected to grow at the fastest rate due to rising internet and smartphone adoption in India and China. North America currently holds the largest share aided by high broadband penetration and significant media spending.
Key players operating in the OTT content market are Akamai Technologies, Apple Inc., Google Inc., LeEco, Netflix, Microsoft Corporation, Amazon, Inc., Facebook, Inc., IBM Corporation, and Limelight Networks.
The global OTT content market size for 2023 is US$ 132.68 Bn. Emerging markets offer huge untapped potential for OTT players to expand their customer base. Growth of 5G networks will boost high-definition video streaming quality and remote production of live content. Original content production is a major opportunity area with platforms investing heavily to cater diverse audience demand. However, piracy remains a challenge along with increased competition among players for subscriber acquisition in saturated markets.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it