Over the top (OTT) content is a multimedia informationwhich can be in the form of audio, video, text, images etc. The over the top content is broadcasted over the World Wide Web and does not involve any multiple system operator (MSO) such as direct broadcast satellite television systems or cable operators. It has large number of applications across BFSI, retail, healthcare, education, government etc. enhancing global over the top content market with a CAGR of 17 % during the forecast period 2016-2023. There is large demand for over the top content due to several advantages such as no cookies, low cost, easy installation, and user friendliness. Therefore consumers consider it as the best choice.The rise of over the top content market has created vast number of opportunities for digital marketing sector as there is increased adoption of video on demand services. By using digital platforms, companies can promote their products. Now-a-days customers prefer unique and innovative ways to be trained, entertained and above all obtain news about various brands and products.
North America is expected to have the largest market share in terms of revenue during the forecast period. High speed internet connectivity and large number of smartphone users are the major factors contributing to the growth of over the top content market in North America. The revenue share of North America was accounted to be worth $ 21.4 Billion in 2015 and is expected to continue its dominance by the end of 2023. Asia-pacific (APAC) region also has growth opportunities, as the well-established companies such as Tencent Holdings, Eros International, Nimbuzz etc. in the this region are switching towards over the top content platform and service providers to offer enhancedof services in terms of quality, performance, and quantity.
The global over the top content market is influenced by the presence of leading OTT service providers such as Facebook Inc [U.S], Microsoft Corporation [U.S.], IBM Corporation[U.S.], Akamai Technologies [U.S.], Google Inc.[U.S.] and others. Product launches, joint ventures, mergers and acquisitions are some of the crucial strategies adopted by the key market players to gain competitive advantage.
Global over the top content market report covers segmentation analysis of content, deployment, devices, revenue models and verticals.Report further covers segments of content which includes VoIP, text and image, music streaming, video etc. Among these segments, VoIP segment has the largest market share.Increasing adoption of Voice-over-IP (VoIP) services has added values to organizations such as VoIP allows reduction of capital, operation expenses and also offers advanced features that can work effectively virtually on any device, thereby driving the growth of VoIP segment.