The OTT service providers have emerged as tough competitors for telecom service providers and cable operators. The mobile network operator messaging revenue has already declined to a great extent in the last five years and the impact has started to show up in their voice revenues as well.
Albany, NY -- (SBWIRE) -- 06/06/2018 -- The transforming technological advances all over the world have given a significant boost to almost every industry. In the present time, one of the trending topics is over the top services offered to customers. Recently, a fresh business intelligence study titled "Over the Top (OTT) Services Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025" has been broadcasted to the vast archive of Market Research Hub (MRH), which offers a complete outlook on global over the top services market's evolution throughout the above-mentioned forecast period in terms of revenue (in US$ Mn). A profiling of key companies operating in this sector is also offered to readers.
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As per the latest study findings, the demand in the world OTT services market has been predicted to gain strength with the personalization of technology. Over-the-top" service providers such as Netflix and Hulu, have allowed consumers the freedom of choice in entertainment and in many cases at a fraction of the cost over traditional cable or satellite. It has been estimated that this is a popular technology trend that is growing by the day and is expected to continue evolving at a lightning-fast pace.
Key Highlights from the Study
It has been clearly stated in the study that due to the proliferation of smartphones and their compatibility with OTT applications, the demand for OTT services is poised to rise progressively in the coming years. The global over the top services market was valued at US$1,049.21 billion in 2017 and the demand for OTT is estimated to expand at a remarkable CAGR of 16.4% from 2017 to 2025, reaching a value of US$3,538.04 billion by 2025.
Furthermore, this 207-page in-depth report reveals insight into the crucial aspects of the global market important segments, competitive landscape and major factors fueling growth. Also, the market has been segmented into six regions: North America, Latin America, Europe, Asia Pacific and MEA. A market attractiveness analysis has also been offered for every geographic region in the report to give an exhaustive analysis of the competitive scenario in the market. The major segments highlighted in the study include business model, application and end-use. By business model, the report covers premium and subscriptions, adware and e-commerce. By application, the market has been classified into communication, e-services, media content, and cloud services.
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The rising need for infrastructure and compliance and accelerating demand for time-shifted television could also help the market to create growth opportunities in the coming years. Considering the rapidly growing demand, the report finds that maintaining the brand-image has become a crucial aspect for companies to gain shares over their competitors in the global over the top services market. In terms of geography, the report adds that North America led the OTT services market in 2017 and is expected to remain dominant throughout the forecast period 2017 to 2025.
Netflix, Inc., Facebook, Inc., Twitter Inc., Rakuten, Inc., Evernote Corporation, LinkedIn Corporation, Google, Inc., Skype (Microsoft Corporation), Amazon Inc., Dropbox, Inc., Apple, Inc., Hulu, LLC. Electronic Instruments Co., Ltd are some of the key players in the global OTT services market that has been labeled in this study
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