The Ott Content Market is estimated to be valued at US$ 132.68 Bn in 2023 and is expected to exhibit a CAGR of 14% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: The Ott content market consists of delivering content through over-the-top media services (OTT) directly to consumers without involving a multiple-system operator (MSO) in the control or distribution of the content. Ott content includes movies, TV shows music, podcasts, news and videos that can streamed or downloaded and watched on any multimedia device like smartphones, tablets, laptops, desktops or connected TVs. Ott content allows consumers to watch their favorite movies and shows on their schedule and devices of choice. Market key trends: One of the major trends in the Ott content market is increasing viewership through mobile devices. The availability of high-speed internet and wider adoption of smartphones along with larger screens has made mobile devices ideal for video consumption. The average time spent on mobile devices for OTT activities has increased significantly as compared to TV screens. The flexibility and affordability of mobile data plans have further boosted mobile viewership of OTT platforms. The mobile-first content strategy of major players like Netflix, Amazon Prime Video, Disney+ Hotstar has hugely contributed to this shift towards mobile screens for video streaming and downloads in the Ott content market. Porter’s Analysis Threat of new entrants: The Global Ott Content Market Size requires high initial investments and established distribution channels. This poses barriers for new entrants. Bargaining power of buyers: Buyers have high bargaining power due to the availability of substitutes and flexibility to switch between different Ott platforms. Bargaining power of suppliers: Major media producers and distributors have significant influence over Ott platforms. Threat of new substitutes: Emergence of new technologies like virtual reality and increased internet penetration can lead to new substitutes. Competitive rivalry: Intense competition exists among established players to gain market share and dominate the segment. SWOT Analysis Strengths: Large content libraries, technological expertise, huge customer base and financial capabilities. Weaknesses: Heavy content acquisition costs, regulatory challenges and market saturation in developed regions. Opportunities: Growth in developing regions, evolving media consumption patterns and new business models. Threats: Stringent data privacy laws, global economic slowdown and surge in content piracy. Key Takeaways The global Ott content market is expected to witness high growth, exhibiting CAGR of 14.% over the forecast period, due to increasing media consumption over mobile devices and rapid penetration of high-speed internet. Asia Pacific region is projected to grow at the fastest rate owing to rising disposable incomes, growing millennial population and increasing adoption of digital platforms in countries like China and India. Regional analysis North America currently dominates the market, followed by Europe and Asia Pacific. The North American region is expected to retain its dominance over the forecast period, driven by high smartphone and internet penetration along with growing demand for VoD streaming services in the US and Canada. Key players operating in the Ott content market are Akamai Technologies, Apple Inc., Google Inc., LeEco, Netflix, Microsoft Corporation, Amazon, Inc., Facebook, Inc., IBM Corporation, and Limelight Networks. Major players are focused on enhancing their content libraries through strategic collaborations and acquisitions to strengthen their market position. For More Insights, Read- https://www.newswirestats.com/ott-content-market-forecast-outlook-trend-2023-2030/
0 Comments
Leave a Reply. |
AuthorCOHERENT MARKET INSIGHTS |