Over-the-Top (Ott) Market to Cross the Us$ 65 Bn Mark by 2023: Credence Research

Over-the-top (OTT) Market to Cross the US$ 65 Bn Mark by

2023: Credence Research

According to a new market research report published by Credence Research “Over-the-Top (OTT) Market

(Content Type – Voice, Text & Image and Video) - Growth, Share, Opportunities, Competitive Analysis and

Forecast 2016 - 2023”, the global over-the-top (OTT) market was valued at US$ 28.75 Bn in 2015 and is

estimated to expand with a CAGR of 14.4% from 2016 to 2023.

Browse the full report at http://www.credenceresearch.com/report/over-the-top-ott-market

Market Insights:

Over-the-top (OTT) refers to delivery of audio, video or any other media content over the internet. Unlike

traditional distribution of television service, OTT eliminates the need for additional distribution or control

of the content. The most significant USP of OTT content lies in the freedom of consumers to access any

content based on their convenience. Over the period of time, OTT content has exponentially transformed

various traditional services such as telephonic calls (through Skype), messaging (WhatsApp, Facebook

Messenger) and video (Netflix, YouTube etc.).

Rising penetration of internet services is the prominent factor fueling the OTT market growth. Number of

internet users across the globe have soared from mere 16% (of the global population) in 2005 to more

than 40% in 2015. This has greatly transformed the audio and video content services being delivered over

the internet. People are now increasingly shifting towards OTT content (as supplement) to the traditional

television services. This has led to high demand for OTT content especially audio and video since the past

few years. With the further rising number of internet users coupled with smart mobile devices, the OTT

market is estimated to register robust growth during the forecast period. Nevertheless, poor network

infrastructure, specifically in the developing nations, is major concern for the market growth....