Global OTT devices and services market is poised to rise at 20.60 percent CAGR between 2016 and 2020. The increase in the production of in-house web series is the key factor behind the significant progression of the global market for OTT devices and services. The growing demand for time-shifted TV is also influencing the adoption of OTT devices and services remarkably across the world.
In addition to this, the advent of video streaming devices in the global market is likely to boost the market further over the next few years. However, the low scope of client retention may pose as a serious difficulty in the growth trajectory of this market in the years to come, as per the Market Research Report. With the increasing number of viewers opting for streaming services over downloading, the video segment is expected to remain dominant.
Based on the product type, the market has been categorized into text and images, video, and VoIP. The video segment led the overall market with a share of more than 87 percent in terms of revenue. Amazon, Facebook, Apple, Netflix, and Hulu are the leading providers of OTT devices and services across the world. - Open PR