Over the Top Devices and Services Market Size, Trends | 2031

Over the Top Devices and Services Market Size, Trends | 2031

Segments - Over The Top Devices And Services Market by Contents (VoIP, Text & Images, and Video), Revenue Sources (AVOD, SVOD, TVOD, and Others), Platforms (Mobile Devices & Computers, Smart TVs & Set-top Box, and Gaming Consoles), Deployment (On-premise and Cloud), Device Types (Streaming Media Players [Streaming Box, Connected Gaming Console, OTT Set-top Box, and Others] and Streaming Sticks), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

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Author : Raksha Sharma
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Fact-checked by : Vineet Pandey
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Editor : Shruti Bhat

Upcoming | Report ID :ICT-SE-1231 | 4.7 Rating | 70 Reviews | 159 Pages | Format : PDF Excel PPT

Report Description


Over the Top Devices and Services Market Outlook 2031

The global over the top devices and services market size was valued at USD 190.5 Billion in 2022 and is projected to reach USD 1.34 Trillion by 2031, expanding at a CAGR of 24.3% during the forecast period, 2023-2031. The growth of the market is attributed to the substantial growth of the media & entertainment industry and the increasing demand for high-quality streaming content over smart devices.

Over the top (OTT) refers to the delivery of information and software over a network such as smartphones, smart TVs, and game consoles that are not under the regulatory control of the content or service provider.

Over the Top Devices and Services Market Outlook

OTT was formerly restricted to the dissemination of audio and video material over the internet; but thanks to new technological advancements, the scope has been broadened to include any service or software accessible on the internet. The price of unique content would not have to be paid by the customer and users can access a variety of content thanks to the personalized contents.

In comparison to conventional cable and satellite providers, OTT media services have greater access, connectivity, flexibility, and portability. Furthermore, the deployment of advanced technologies by service providers as well as the provision of customized content, has increased the industry’s appeal and is expected to boost revenue generation over the next seven years.

Artificial Intelligence (AI) integration by a number of different service providers is a prominent development that has pushed to the market growth. Over the last few years, several players have focused their efforts on using such advanced technology for identifying consumer tastes and providing personalized and premium content.

  • Rising demand for personalized content has resulted in a high rate of OTT device adoption. This is expected to boost the market.
  • Increasing use of mobile devices and high access to faster internet speeds are anticipated to fuel the market expansion.
  • Introduction of advanced data-capable devices and high-bandwidth services including live video streaming are propelling mobile data traffic to new heights. This is projected to propel the market growth.
  • Increasing number of consumers willing to pay for premium services and providing free access to certain contents by OTT service providers are projected to spur the market.
  • The COVID-19 pandemic resulting to imposition of lockdown has pushed to increase the number of consumers for OTT networks.
  • Relatively high price of OTT service is a key challenge that can hamper the market growth during the forecast period.

Scope of Over the Top Devices and Services Market Report

The report on the global over the top devices and services market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Over the Top Devices and Services Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2016–2021

Forecast Period

2023–2031

Segmentation

Contents (VoIP, Text & Images, and Video), Revenue Sources (AVOD, SVOD, TVOD, and Others), Platforms (Mobile Devices & Computers, Smart TVs & Set-top Box, and Gaming Consoles), Deployments (On-premise and Cloud), Device Types (Streaming Media Players [Streaming Box, Connected Gaming Console, OTT Set-top Box, and Others] and Streaming Sticks)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Netflix, Amazon.com, Hulu LLC, Apple Inc., Facebook Inc., and Roku Inc.

Over the Top Devices and Services Market Segment Insights

Content Segment Analysis

Based on contents, the global over the top devices and services market is segmented into VoIP, text & images, and video. In 2019, the video segment held a key share accounting more than 45.9% of the global market and is expected to continue during the forecast period.

The growing number of OTT subscribers has been a significant contributor to the segment’s revenue. Breakthroughs in broadcast technology have pushed the rapid development of cutting-edge video streaming devices. Adding features such as adaptive bitrate streaming has made online streaming network services including Netflix and Hulu extremely appealing.

However, the VoIP segment is expected to exhibit at a fast growth rate during the forecast period owing to wide subscribing to VoIP services and applications provided by OTT service providers, impacted by a large growth of smartphone users worldwide.

Revenue Sources Segment Analysis

On the basis of revenue sources, the market is categorized into AVOD, SVOD, TVOD, and others. In 2019, the ad-based video on demand (AVOD) segment constituted a high revenue share of more than 35.8% of the global market and is expected to continue the trend in the coming years.

Over the last few years, AVOD OTT channels have gotten a lot of coverage, which has aided revenue generation. However, the prevalence of subscription-based video on demand (SVOD) services, on the other hand, is projected to overshadow the segment growth. The SVOD segment is projected to hold a key market share during the forecasted period owing to the providing of an optimum balance of value to both the consumer and the business.

Over the Top Devices and Services Market Revenue Streams

Platform Segment Analysis

On the basis of platform, the global over the top devices and services market is segmented into mobile devices & computers, smart TVs & set-top box, and gaming consoles. In 2019, the mobile devices and computers segment held a high market share representing more than 50.5% and is anticipated to grow significantly during the forecast period.

Due to the significant increase in global smartphone video viewership, content providers such as Netflix are gradually prioritizing mobile functionality for their subscribers. Moreover, launching of mobile-only subscription tiers in countries with strong viewership such as India is another key driver for the segment.

Furthermore, OTT video providers are continuously adding new functionality to boost the in-app experience, which leads to a rise in subscriptions, which fuels the segment's expansion.

During the forecasted period, the gaming console segment is projected to become a fast-growing segment. One of the main drivers driving the segment's growth is the growing number of connected gaming consoles around the world.

Deployment Segment Analysis

Based on deployments, the global over the top devices and services market is categorized into on-premise and cloud. Due to the strong focus on streaming infrastructure and facilities over the past decades, the on-premise segment accounted for a high market share accounting for over 55.7% in 2019.

Meanwhile, the cloud segment is expected to constitute a substantial market share in the coming years owing to easy database management while still saving time and money. On the other hand, the deployment of on-premise service takes more investment and time. Thus, the cloud segment is projected to expand at a rapid pace in the coming years.

Over the Top Devices and Services Market Deployment

Device Type Segment Analysis

Based on device Types, the market is segmented into streaming media players and streaming sticks. The streaming media players segment is further divided into streaming box, connected gaming console, OTT set-top box, and others. With a market share of over 56% in 2019, streaming media players emerged as the most profitable segment.

In the last few years, there has been a huge increase in the market for streaming media players. During the forecast period, the segment growth is expected to be fueled by a growing number of product innovations. However, the streaming sticks segment is projected to hold a key share of the market due to small size and low cost.

In order to improve their market position, companies are focused on introducing their own brands with innovative features at a lower cost. Such features appeal to constantly evolving market demands around the world, resulting in a larger user base and faster product demand.

Regional Outlook

In terms of regions, the market is divided into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America accounted for a market share of 46.2% in 2019 and is projected to hold this position during the forecast period due to rising investment in emerging IT technology in developed countries especially the US.

However, Asia pacific is anticipated to be one of the fastest regional market in the coming years owing to growing number of international service providers and their rising capitalized on the growing popularity of subscription OTT.

Due to the continuously increasing number of users, countries such as china and India are main contributors to regional revenue. Due to the popularity of mobile video viewing in emerging markets, leading service providers are introducing mobile-based subscription models, which is expected to boost the regional market growth.

Over the Top Devices and Services Market Region

Segments

The global over the top devices and services market has been segmented on the basis of

Contents

  • VoIP
  • Text & Images
  • Video

Revenue Sources

  • AVOD
  • SVOD
  • TVOD
  • Others

Platforms

  • Mobile Devices & Computers
  • Smart TVs & Set-top Box
  • Gaming Consoles

Deployments

  • On-premise
  • Cloud

Device Types

  • Streaming Media Players
    • Streaming Box
    • Connected Gaming Console
    • OTT Set-top Box
    • Others
  • Streaming Sticks

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

Competitive Landscape

Some of the key players in the global over the top devices and services market include Netflix, Amazon.com, Hulu LLC, Apple Inc., Facebook Inc., and Roku Inc.

With too many media and entertainment providers getting on board with streaming TV, the market is becoming more fragmented, putting ever more pressure on high-quality content to keep audiences engaged. To attract customers' interest, businesses are focusing on product creativity.

Over the Top Devices and Services Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Over the Top Devices and Services Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Over the Top Devices and Services Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Over the Top Devices and Services Market - Supply Chain
  4.5. Global Over the Top Devices and Services Market Forecast
     4.5.1. Over the Top Devices and Services Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Over the Top Devices and Services Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Over the Top Devices and Services Market Absolute $ Opportunity
5. Global Over the Top Devices and Services Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Over the Top Devices and Services Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Over the Top Devices and Services Demand Share Forecast, 2019-2026
6. North America Over the Top Devices and Services Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Over the Top Devices and Services Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Over the Top Devices and Services Demand Share Forecast, 2019-2026
7. Latin America Over the Top Devices and Services Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Over the Top Devices and Services Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Over the Top Devices and Services Demand Share Forecast, 2019-2026
8. Europe Over the Top Devices and Services Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Over the Top Devices and Services Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Over the Top Devices and Services Demand Share Forecast, 2019-2026
9. Asia Pacific Over the Top Devices and Services Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Over the Top Devices and Services Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Over the Top Devices and Services Demand Share Forecast, 2019-2026
10. Middle East & Africa Over the Top Devices and Services Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Over the Top Devices and Services Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Over the Top Devices and Services Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Over the Top Devices and Services Market: Market Share Analysis
  11.2. Over the Top Devices and Services Distributors and Customers
  11.3. Over the Top Devices and Services Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Netflix Amazon.com Hulu LLC Apple Inc. Facebook Inc. Roku Inc.

Methodology

Our Clients

Siemens Healthcare
Nestle SA
Honda Motor Co. Ltd.
FedEx Logistics
The John Holland Group
Deloitte
General Electric
Pfizer