According to IMARC Group’s latest report, titled “Latin America OTT Platform Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the Latin America OTT platform market growth is expected to exhibit a CAGR of 12.29% during 2022-2027. Looking forward, IMARC Group expects the Latin America OTT platform market to continue its robust growth during the forecast period (2022-2027).
Over-the-top (OTT) platform refers to an application-based service that offers direct streaming of audio, video, digital media content, etc., over the internet. It usually enables users to access the content on their electronic devices, including smartphones, tablets, smart televisions, etc. OTT platforms provide unlimited data streaming and allow the viewers to access content as per their convenience without requiring a multi-system operator for the distribution. In Latin America, OTT platforms are widely adopted for numerous purposes, such as entertainment, education, health, fitness, etc.
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Latin America OTT Platform Market Trends:
The rising penetration of smart devices and high internet connectivity is among the key factors stimulating the Latin America OTT platform market. Furthermore, the expanding media and entertainment sector is augmenting the production of high-quality media content, which is positively influencing the regional market.
Apart from this, the shifting consumer preferences from traditionally used cables and satellite television sets towards OTT platforms based on ease of convenience, improved connectivity, better accessibility, etc., are acting as significant growth-inducing factors. Additionally, various telecom operators are also collaborating with service providers to provide subscriptions to their users at comparatively lower prices, which is anticipated to fuel the Latin America OTT platform market over the forecasted period.
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Competitive Landscape with Key Players:
The competitive landscape of the industry has also been examined with some of the key players.
Key Market Segmentation:
The report has categorized the market based on revenue model, content type, streaming device, user type and service vertical.
Breakup by Revenue Model:
Breakup by Content Type:
Breakup by Streaming Device:
Breakup by User Type:
Breakup by Service Vertical:
Breakup by Country:
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