According to a new research published by Polaris Market Research, the Over-The-Top Devices and Services market is anticipated to reach around USD 202 billion by 2026. In 2017, the video content segment dominated the global market, in terms of revenue. North America is expected to be the leading contributor to the global market revenue during the forecast period.
The growing penetration of broadband infrastructure, and increasing adoption of device-based computing have boosted the adoption of Over-The-Top Devices and Services market. Increasing disposable incomes, and growth in media & entertainment industry further support the growth of this market. Availability of low cost OTT services and rising need for a personalized experience has accelerated the adoption of Over-The-Top Devices and Services. Increasing investments by vendors in technological advancements coupled with increasing demand from emerging economies further boost the market growth.
The growing disposable income has encouraged consumers to buy technologically advanced OTT devices for a personalized experience. Moreover, consumers are opting for video and audio services along with the ability to connect to the internet. Thus, lofty living standards and increasing media consumption, would contribute to the growth of the Over-The-Top Devices and Services market, thereby positively affecting the Over-The-Top Devices and Services market growth.
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The North America Over-The-Top Devices and Services market generated the highest revenue in 2017, and is expected to lead the global market throughout the forecast period. The high disposable incomes in the region, and growing media and entertainment industry drive the market growth in the region. There has been a significant increase in the consumption of online video and audio content in the region. Favorable government regulations in the region boost the market growth in the region. Local players are introducing low cost Over-The-Top Devices and Services with advanced technologies to cater to the growing demand of consumers. Numerous key players have adopted partnership and expansion strategies to increase their market share in Over-The-Top Devices and Services markets of the North American region.
The leading companies profiled in the Over-The-Top Devices and Services market report include Microsoft Corporation, Yahoo Inc., Amazon.com, Google Inc., Netflix Inc., Roku, Inc., Hulu, Apple, Inc., Akamai Technologies, Facebook, Inc., Limelight Networks, Inc., and Tencent Holdings Ltd. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.