The Global OTT Market accounted for USD 27.51 billion in 2015 and is expected to reach USD85.87 billion by 2022 growing at a CAGR of 17.6 percent from 2015 to 2022. Prospective growth in content demand, rising need for compliance and verification, wide accessibility of broadband infrastructure and customization of technology are some of the key factors fueling Over The Top (OTT) market growth. Moreover, ease of broadband technology is supporting the growth of over the top (OTT). The benefit of using over the top (OTT) service is that it is less costly when compared to other established modes.
On-premise segment commanded the market but cloud-based over the top (OTT) is projected to exceed the former owing to the increased adoption rate of cloud technologies. North America is the significant market for OTT due to the presence of better connectivity in countries such as U.S. and Canada. Moreover, owing to this improved broadband connectivity across the globe, other devices such as smart TVs, STBs, and gaming consoles can also be used for the provision of over the top (OTT) services. APAC is anticipated to grow at faster pace owing to increasing connectivity of broadband across regions and demand across large scale organizations. – PR Newswire