Market Insights and Analysis: OTT Platform Market Overview and Projections (2022-2027)
The Global OTT Platform Market is projected to grow at a CAGR of around 18% during the forecast period, i.e., 2022-27.
Top leading companies in the OTT Platform Market includes:
Amazon.com, Inc., Netflix, Inc., Hulu, LLC, Google LLC, Apple Inc., Telstra Corporation Ltd., Facebook, Inc., Kakao Corp., Vimeo Live, Rakuten, Inc., The Walt Disney Company, iNDIEFLIX Group Inc., Home Box Office, Inc., XUMO, Others (STARZ, Showtime Networks Inc., etc.)
Key Driver: Increasing Number of Millennial Users for OTT Platform
In the past years, the millennial users of OTT platform services have been constantly increasing, and this, in turn, positively impacts the growth of the Global OTT Platform market. The market has grown multifold over a couple of years because of pandemic-induced lockdowns in 2020, resulting in an increase in internet penetration. Further, the shift in customer preferences has been one of the major factors driving the growth of the OTT platform market. In addition, the audiences are now moving away from television sets and spends time exploring and viewing online content with flexible timings. Hence, such an inclination of millennials towards the OTT platform bolstering the market growth during the forecast period.
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Report Segmentation:
The market is categorized into the following segments in the report:
By Type
-Video on Demand
-Communication
-Music Streaming
-Online Gaming
By Monetization Model
-Advertising-Based
-Subscription-Based
-Transaction-Based
-Hybrid-Based
· Subscription-Based is anticipated to witness significant growth during the past period.
By Service Vertical
-Education and Learning
-Media & Entertainment
-Gaming
By Streaming Devices
-Desktops and Laptops
-Smartphones and Tablets
-Smart TVs
-Others (Gaming Consoles, Set Top Box, etc.)
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OTT Platform Market Geographic Reach:
The Geographic Reach of the OTT Platform Market evaluates the spread and significance of OTT Platform market consumption across different regions/country, emphasizing areas with the largest market size and the most promising growth potential.
· North America: The US, Canada, Mexico
· South America: Brazil, Argentina, Rest of South America
· Europe: Germany, France, Italy, The UK, Spain, Rest of Europe
· Asia-Pacific: China, Japan, India, South Korea, Australia, Rest of Asia Pacific
· Middle East & Africa: Saudi Arabia, The UAE, Egypt, Turkey, South Africa, Rest of Middle East & Africa
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