Over The Top Market worth $54.00 Billion by 2019, According to a New Study on ASDReports

Tuesday 10 June 2014, Amsterdam

The report "Over The Top (OTT) Market by Content (Text/Image, Audio, Video), Access Type (Smart Devices: Phones and tablets, Laptops/Desktops, Set Top Boxes, Smart TV, Gaming Consoles) - Worldwide Forecasts & Analysis (2014 - 2019)" defines and segments the OTT market into various sub-segments with an in-depth analysis and forecasting of revenues. The report also identifies the factors driving this market, various restraints and opportunities impacting it along with the technology roadmap and adoption trends.

The new report broadly segments theOTT market on the basis ofcontents: Text, and Image, Audio/ Voice, Video; by access type: Smartphones/tablets, PC/Laptops, Set top boxes, smart TV, Gaming consoles; by verticals: banking, financial services and insurance (BFSI), Media and Entertainment, IT and telecom, education, households and healthcare; by regions such as North America (NA), Europe, Asia Pacific (APAC), Middle East and Africa (MEA) and Latin America (LA).

OTT services can be availed all those customers who are having a working internet connection on their devices. The content like text, image, audio, and multimedia are being widely transmitted using OTT services. The implementation of OTT services has given a better medium for connectivity among users. OTT service is available on various devices including smart phones, tablet, desktops, laptops, smart TV, and gaming consoles. These services are widely used by users and hence OTT market is expected to grow at a healthy rate in coming years.

The over the top services are primarily applicable for various verticals, as today majority of businesses relies on internet communications to take key decisions. The essentialities of today’s business communications include continuous connectivity, internet service and speedy data sharing. The major driving factors forOTT market areincreasing penetration of smart devices, better broadband connectivity, cheaper services, socially adoption of OTT services etc.OTTservice providers are facing challenges in terms ofdependency on internet networks, monetization of user base, and fierce competition.

As per the findings of this report, with the increased growth in internet technology, all major players in OTT space, such as Akamai, Apple, Facebook, Google, Limelight, Microsoft, Netflix, Nimbuzz, Tencent Holding and Yahoo among various others are expecting huge opportunities in future.

The new report forecasts the over the top market to grow from $25.33 billion in 2014 to $54.00billion in 2019. In terms of geographies, North America (NA) and Asia-Pacific (APAC) is expected to be the biggest market in terms of revenue contribution, whileLatin America (LA) andEuropeare expected to experience increased market traction, during the forecast period.