The OTT Platform Market is set to grow at around 18% CAGR during 2022-27, predicts MarkNtel Advisors in their recent research study. It comprises a comprehensive analysis of the industry’s latest trends, developments, drivers, restraints, challenges, & opportunities, as well as its projected growth trajectory across different segments & geographies in the forecast years.
Further, the report also highlights the prominent aspects depicted in the form of diagrams, pie charts, tables, graphs, & other pictorial representations that would contribute to the market expansion in the future. Through this information, stakeholders will be able to comprehend the changing dynamics of the OTT Platform Market and better plan & layout strategies in order to widen their visibility, product portfolio, & customer base and yield massive profits. In the report, the historical period considered is 2017-20, the base year 2021, and the forecast period, as cited above, is 2022-27.
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Key Highlights from the OTT Platform Market Analysis –
➤This study is a compilation of key factors impacting the industry dynamics, including growth drivers, restraints, opportunities, challenges, and emerging & high-potential segments & geographies, among others.
➤Detail-driven, accurate, and reliable information associated with the latest trends in the industry to help stakeholders or investors make informed decisions before they make investments.
➤A comprehensive review of the leading companies in the OTT Platform Market, comprising their profiles, recent developments, prominent business strategies, initiatives, and mergers & acquisitions, among other aspects.
➤Fund estimation put in by private firms & governments for the industry’s expansion, along with insights into each segment & geographic location, are also covered in this report.
OTT Platform Market Key Driver –
In recent years, the number of millennials using OTT platform services has steadily increased, favourably impacting the growth of the Global OTT Platform market. Because of pandemic-induced lockdowns in 2020, the market has risen multifold over the last few years, resulting in increased internet penetration. Furthermore, one of the primary factors fueling the expansion of the OTT platform industry has been a shift in client preferences. Furthermore, people are increasingly abandoning television sets in favour of researching and viewing online information at their leisure. As a result, millennials’ preference for OTT platforms will drive market expansion during the projection period.
- In 2021, Zee Entertainment Enterprises (ZEE) announced the launch of its video streaming service in the US market in 2022, along with the launch offer of USD99.9 for the one-year pack, while keeping it USD84 as an annual pack price.
OTT Platform Market Segmentation:
The segmentation analysis section of the report focuses on the OTT Platform Market performance across different segments & geographies, which can aid stakeholders in strategizing their investments in order to widen their visibility, product portfolio, & customer base and, in turn, generate significant revenue in the forecast years.
Market Divided into, By Type
-Video on Demand
-Communication
-Music Streaming
-Online Gaming
Market Divided into, By Monetization Model
-Advertising-Based
-Subscription-Based
-Transaction-Based
-Hybrid-Based
Market Divided into, By Service Vertical
-Education and Learning
-Media & Entertainment
-Gaming
Market Divided into, By Streaming Devices
-Desktops and Laptops
-Smartphones and Tablets
-Smart TVs
-Others (Gaming Consoles, Set Top Box, etc.)
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Geographically, the OTT Platform Market expands across regions: –
-North America
-South America
-Europe
-Asia Pacific
(In August 2020, Amazon Prime announced a Prime gaming service specifically for Gamers. Twitch Prime/Prime Gaming is anticipated to offer free games, game content, and a free Twitch channel subscription, as a part of its standard Prime membership. The company further attributed this move to the booming market for new content for games in North America.)
Competitive Landscape:
Under this section, detailed information on company profiles, investments & revenue generated, strategic initiatives, geographical presence, and production or service capacities, among other aspects, have been examined. All insights into companies have been curated only after thoroughly studying their hold in the industry to help investors make informed decisions before investing.
-Amazon.com, Inc.
-Netflix, Inc.
-Hulu, LLC
-Google LLC
-Apple Inc.
-Telstra Corporation Ltd.
-Facebook, Inc.
-Kakao Corp.
-Vimeo Live
-Rakuten, Inc.
-The Walt Disney Company
-iNDIEFLIX Group Inc.
-Home Box Office, Inc.
-XUMO
-Others (STARZ, Showtime Networks Inc., etc.)
Latest Development by Market Leading Companies –
- Netflix Inc. is one of the leading OTT platform companies worldwide. Along with 221 million paid memberships in over 190 countries for TV series, documentaries, feature films, and mobile games across a wide variety of genres and languages. Recently it Collaborated with Ubisoft to create three mobile games on OTT platforms, to be launched by 2023.
- Earlier, In September 2021, Netflix launched a new free Android mobile plan in Kenya that provides consumers access to a restricted number of its titles, including complete seasons of some series. For this, Users can sign up for the Netflix mobile plan for Android without providing any financial information
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