Over the Top (OTT) Services Market Witness Excellent Revenue Growth, Emerging Trends & Forecast

The global over-the-top (OTT) services market has been projected in a report by Transparency Market Research (TMR) to witness a rising count of players focusing on inorganic growth strategies such as acquisition of smaller players to gain a competitive edge. However, some of them could also concentrate on improving their product portfolio to attain a position of strength in the market. Google, Apple, and Netflix are among the leading players of the industry. Other strategies anticipated to be practiced in the market are winning price advantages and providing products with high-quality features. The regional and global demand in the market could be catered to by a significant count of players operating in the industry.

The analyst of this business intelligence study has also detected that developing a sense of brand image is essential to maintain a stronghold over the over the top services market. “A strong percentage of customers are repeated, and hence developing a loyalty among them will go a long way in sustaining in-flow of demand,” says the analyst.

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TMR report has estimated the global OTT services market to collect mega revenue worth a US$3,538.04 billion by 2025, while gaining an increment in demand at a 16.4% CAGR during the completion of the forecast tenure 2017-2025. In 2017, the market has been evaluated to have had a valuation of US$1,049.21 billion. By business model, premium and subscriptions have been foreseen to continue with their dominance taking cue from their close to a 48.5% share fetched in 2017. On the regional front, Asia Pacific is projected to exhibit a greater CAGR of 16.1% between 2017 and 2025.