The global Over the Top (OTT) market is set to grow to 54 Billion dollars by 2019 from 25.44 Billion dollars at the beginning of 2015. This is according to a research from MarketsandMarkets.
The Compound Annual Growth Rate (CAGR) is 16.30%. The OTT market is expected to grow at a healthy rate in coming years.
The North America and Asia-Pacific are expected to lead the market in terms of revenue contribution.
Latin America and Europe are predicted to experience increased market traction.
OTT services are available to customers who have access to working internet connection on their devices.
Through OTT, content such as text, image, audio, and multimedia are being widely transmitted.
OTT services are available on various devices such as:
- smart TV
- gaming consoles
The OTT services are applicable for various verticals, as most of the businesses are relying on the internet for communications of key decisions.
The business communications today include continuous connectivity, internet service, and speedy data sharing.
The increasing penetration of smart devices, better broadband connectivity, cheaper services, socially adaptation of OTT services are among the major driving factors for the OTT market identified in the report.
While growth is expected for the OTT market, service providers will be facing challenges in terms of dependency on internet networks, monetization of a user base, and fierce competition.
Services providers must find a reliable system without spending a huge startup cost while providing a high-quality service to their customers.
They should find a platform such as of MatrixStreamâ€™s to offer greater value to customers with a reliable service wherever they may be.
The Next Generation MatrixCloud OTT IPTV Network DVR Solution for Service Providers of MatrixStream can give broadband service providers and mobile providers a boost to their OTT offering.
The low bandwidth, end-to-end, plug and play platform gives operators the ability to launch premium TV everywhere OTT solution quickly without the need to spend a huge startup cost.
To learn more about how we can help you become competitive and attractive to more customers in the global OTT market, click here.