- 7 December 2018 18:15
Over-The-Top (OTT) Market Revolutionize The Entertaining World
Over-the-top is the term used for delivery of content, services or applications such as television shows, videos, music streaming, messaging and voice over IP over the internet. It does not require subscription as compared to traditional cable, satellite pay-tv or landline phone service provider but will require a broadband connection. Similarly, over-the-top messaging app does not require a cellular network to work. Voice over IP allows calling as well a text messages to be sent between individuals at very low cost or no cost locally as well as internationally.
Increasing penetration of high speed internet, public Wi-Fi, and unlimited wireless data plans are the key factors that are expected to drive the growth of the global over-the-top market. High penetration of mobile phone is another key factor for the growth of the global over-the-top market According to, The World Bank, there was 6.6 billion mobile phone users in 2013 and their penetration is growing at over 30% year on year. The other key driver is increasing adoption of cloud-based services across various verticals. It offers portable service where users can store their data and can access it anywhere.
Rising concerns about online piracy is the major factor expected to inhibit the growth of OTT market growth over the forecast period. In addition, availability of offline content and low data bandwidth in some developing countries are other factors hampering growth of the global over-the-top market.
Moreover, increasing adoption of over-the-top market in various applications ranging from e-commerce, finance, education and health across the globe is the ongoing trend observed, which is expected to support market growth in the near future. The market players are engaged in developing more convenient solutions for easy access of applications, coupled with growing segment of video–on–demand feature that uses cloud services to share cloud data with the audience can pose to be a lucrative opportunity for market players over the forecast period.