Over-the-Top/OTT Market Size, Share, Growth Analysis, By Device Type(Smartphones & Tablets, Desktops & Laptops, and IPTV & Consoles), By Content Type(Video, Audio/VoIP, Games, and Communication), By Revenue Model(Subscription, Advertisement, Transaction), By End-User(Media & Entertainment, Education & Learning, Autonomous driving, Gaming), By Region - Industry Forecast 2024-2031

Over-the-Top/OTT Market Driver

• OTT market is gaining momentum in recent times due to its demand in emerging economies. Wide availability of content, increasing SVoD services, live streaming channels, gaming during lockdown and availability of freemium models are some of the factors bolstering demand for the market.
• The demand for new OTT entertainment material has increased significantly, and a growing number of OTT service providers are making some of the existing content available for free and launching new content on their platform. To meet the ever-increasing demand of consumers, platforms like Zee5 and Amazon Prime Video have given a handful of their episodes free to watch as part of their #BeCalmBeEntertained initiative. Furthermore, the Zee5 platform, an Indian OTT service provider, has seen a nearly 80% spike in memberships and a more than 50% increase in time spent recently. Furthermore, Amazon Prime Video has made some of its children's entertainment available for free in India.

Over-the-Top/OTT Market Restraint

• One of the fastest expanding application areas is online gaming. However, Companies in this area use OTT services to successfully release and deliver games online, with scalability for many players in different places. For gaming content, they desire HD resolution. A lack of high-quality gaming material, combined with poor web performance, slow frame rates, poor visuals, and unpleasant webpage latency times, might reduce the number of online customers for gaming companies.