Albany, NY -- (SBWIRE) -- 02/15/2019 -- Delivery of content, application, or services over internet protocol networks that are not directly provided by internet service providers is referred to as over-the-top communication. Over-the-top communication is sometimes referred to as value added services. Over-the–top communications apps have bypassed the traditional network distribution approach. OTT apps and services are those provided by Skype, FaceTime, and WhatsApp for voice/video call and messages on a mobile device.
Decline in SMS service was largely after the introduction of over-the-top communication services. In the year 2011, OTT messaging service traffic was less than 5% of the overall messaging, globally. However, by 2013, OTT messaging outshined SMS as the primary source of messaging, and currently SMS represents less than 10% of the traffic globally.(source: Synchronoss Technologies Inc.). The statistics clearly displays the exponential adoption of over-the-top communication services and its growth trend.
OTT communication providers largely rely on global internet and network speed (ranging from 256 kilobits for messaging to speed in the range of megabits for video) to reach the user base. Services offered by OTT players are either free of cost or are provided at much lower cost to users. The business model of OTT communication providers are largely advertisement, in-app purchase/ content, unit pricing, subscription, and software licensing. Advertisement includes all those services funded by viewing advertisements. In-house purchase/content includes revenue generated when the user purchases extra features such as stickers or some premium service. Unit pricing includes revenue derived from off-net calls or terminating incoming calls. Players such as Skype and Microsoft base their business model on unit pricing. The subscription model includes the revenue generated from recurring charges for additional services offered by the company. The software licensing model is largely the revenue generated by purchase of software services by users.
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A rapid surge in the utilization of smartphones, laptops, tablet PCs, wearables, and other devices that require internet services to be of utmost use to customers is majorly responsible for driving the global over-the-top (OTT) communication market. Moreover, a rising demand for gaining detailed insights about consumers and buying parties in different domains and making better informed decisions about their interests also is driving the global over-the-top (OTT) communication market's growth. In addition, fast-paced urbanization and industrialization too have increased the demand for hi-tech gadgets, thereby contributing towards the use of analytical procedures for making use of over-the-top (OTT) communication services. Lastly, with numerous companies pouring extensive amounts of money to develop their communication-based services, the global over-the-top (OTT) communication market is expected to grow with leaps and bounds in the near future.
However, it might be expensive for businesses having less disposable income to develop costly over-the-top (OTT) communication technologies. This poses as a key restraint to the global over-the-top (OTT) communication market. In addition, developing quality solutions to send over content and other information without use of internet service providers might need complex processing actions. With a lack of experienced and skilled workers in remote and underdeveloped regions, this market is yet to develop significantly in such geographical extents. The existence of security breaches in this type of communication also presents another hindrance to the over-the-top (OTT) communication market's growth. However, increasing penetration of smart devices in almost all parts of the globe is occurring in recent times. This is followed by extensive efforts undertaken by solution providers to provide quality products. Such factors are expected to offset most hindrances affecting the global over-the-top (OTT) communication market in the years to come.
Owing to the presence of a large number of players, a high degree of competition exists in the global over-the-top (OTT) communication market. Most of the market players are imparting a lot of focus on providing high quality services to their customers. This strategy aims at improving client retention and expanding revenue generation in the over-the-top (OTT) communication market. With new players projected to enter the market in forthcoming years, the competition is expected to get tougher. Many companies are undertaking extensive research and development to enhance their over-the-top (OTT) communication solutions. Akamai Technologies, Facebook Inc., Google Inc., Tencent Holdings, Microsoft Corporation, Mara Group (Nimbuzz), Dropbox, Inc., Limelight Networks, Inc., Rakuten, Inc., and Yahoo Inc., are key players operating in the global over-the-top (OTT) communication market.
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