New York, March 08, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "OTT Streaming Global Market Report 2022" - https://www.reportlinker.com/p06243816/?utm_source=GNW
67 billion in 2021 to $149.34 billion in 2022 at a compound annual growth rate (CAGR) of 15.2%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $262.28 billion in 2026 at a CAGR of 15.1%.
The over the top content (OTT) streaming market consists of sales of over-the-top content (OTT) streaming services and related products that provide streaming video through the internet. Examples of well-known OTT players include Apple TV, iTunes, Netflix, Roku, Hulu, Amazon among others.
The main types of devices in OTT streaming are smartphones, smart TVs, laptops, desktops and tablets, gaming consoles, set-top boxes, and others.Smartphone refers to a handheld electronic device that will be providing a connection to a cellular network.
The different revenue sources include AVOD, SVOD, TVOD, others and involve various user types such as commercial, personal. It is used in several sectors including E-commerce, media, and entertainment, education and training, it and telecom, health and fitness, others.
Asia Pacific was the largest reegion in the OTT market in 2021.Middle East is expected to be the fastest growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
With the increasing change in customers’ social behavior, which is shifting from traditional subscriptions to broadcasting services and to over-the-top (OTT) on-demand video and music subscriptions every year, OTT streaming in the forecast period is expected to grow at a very fast pace.Various segments of the population have started using video streaming services instead of regular television for entertainment due to added benefits such as on-demand services and ease of access.
Countries such as India and China are expected to see an exponential rise in the number of content streaming users in a video on streaming and pay-per-view services. In 2020, OTT content streaming service, Netflix, expects to close the year with 4.6 million paid customers. Thus, an increase in customer base is expected to boost the growth of the OTT streaming market during the forecast period.
The threat from piracy and illegal streaming is a key factor hindering the growth of the OTT (Over-The-Top) streaming market.Streaming live TV channels leads to the OTT players’ bulk of traffic.
They are also subject to privacy concerns in live streaming.OTT players are finding it increasingly difficult to monitor piracy and illegal streaming with the growth of broadband.
The illegal sale of video content in 2019 cost the industry $9.1bn, with analysts predicting it would hit $12.5bn by 2024. Even though Digital Rights Management (DRM), allowing copyright owners to decide how and by whom their copyright can be accessed, has always been the go-to-choice for delivering content securely and preventing piracy, the fact remains that it is often not sufficient. Motivated attackers also find ways to get information published. Therefore, the threat from piracy and illegal streaming is expected to limit the growth of the OTT streaming market.
Streaming on 4K televisions is a key trend in the OTT (Over-The-Top) streaming market.A 4K resolution is typically 3,840x 2,160 pixels and is also known as UHD or Ultra-High Definition.
This is the highest level of high-definition video quality available to film, television, and sports viewers these days.Nowadays most of the latest TVs are 4 K compliant.
They are extremely costly but for under $1,000 (or even under $500) we can find a decent 4 K tv.Major streaming services such as Netflix, Disney+, and Amazon Prime Video have included premium 4 K and 4 K content in their services.
FuboTV launched its first live- TV to provide coverage in 4 K with HDR. The only sports that take advantage of this improved visual quality were World Cup matches, but later the company added some NCAA football matches in 4 K.
In March 2019, The Walt Disney Company, a media, and entertainment conglomerate acquired 21st Century Fox for $71 billion and now owns Hotstar.Through this acquisition, Hotstar is now rebranded as Disney+Hotstar localizing Disney+ movies and shows by dubbing or adding subtitles in Indian languages.
Hotstar is an over-the-top streaming service owned by Novi Digital Entertainment, a subsidiary of Star India.
The countries covered in the OTT streaming market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Read the full report: https://www.reportlinker.com/p06243816/?utm_source=GNW
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