Blockchain Press Releases
Over The Top (OTT) Devices and Services Market to Hit $1,079.1 Billion by 2030: Grand View Research, Inc.
SAN FRANCISCO, July 26, 2023 /PRNewswire/ — The global over the top devices and services market size is expected to reach USD 1,079.1 billion by 2030, expanding at a CAGR of 24.3% from 2023 to 2030, according to a new study by Grand View Research, Inc. The rollout of high-speed broadband internet has resulted in a rising inclination toward online streaming platforms, thereby fueling the growth of the OTT devices and services market.
Key Industry Insights & Findings from the report:
- Based on type, the OTT services segment is anticipated to grow at the highest rate of 24.4% due to the rising penetration and consumption of the Internet with unlimited data plans
- Based on device, the streaming media players segment led the market in 2022 with a higher share, as a result of a wide range of compatibility with TVs and other displays
- In terms of service type, the OTT media services segment accounted for the dominant market share of more than 86.0% in 2022, due to the high penetration of smartphones, tablets, and other advanced electronic handheld gadgets that offer an interactive display
- With regard to OTT business models, the SVOD segment is expected to expand at a substantial CAGR of 23.6% due to value for money and ad-free content
- Based on platform, the smartphones segment is expected to expand at a substantial CAGR of 24.7% during the forecast period, as a result of the ease of downloading applications that offer OTT services and media
- Based on geography, North America dominated the market in 2022 due to reliable IT infrastructure, coupled with the high disposable income of consumers in the region
Read 160-page market research report, “Over The Top Devices And Services Market Size, Share & Trends Analysis Report By Type, By Device, By Service Type, By OTT Business Models, By Platform, By Region, And Segment Forecasts, 2023 – 2030“, published by Grand View Research.
Over The Top Devices And Services Market Growth & Trends
Moreover, the proliferation of technologies such as high bit-rate streaming, pause & rewind controls, and more, in live streaming and Video on Demand (VOD) has contributed to the increasing number of OTT subscriptions, thus creating a positive outlook for the market. The industry is witnessing an influx of new players, with major platforms such as Netflix facing intense competition from competitors, including Disney+ and Apple TV+.
OTT service providers are increasingly offering premium content for paying customers to gain optimum customer engagement. Although OTT platforms have been successfully making their way into developing markets such as India, the coronavirus crisis has undoubtedly given a push to the viewers’ appetite for digital content. As per estimations, OTT devices and services have now become a popular mode of entertainment for a sizeable audience base due to the inaccessibility of outdoor entertainment and the unavailability of fresh content on television channels.
The industry has revolutionized the ways of content creation and distribution, along with streaming. Market participants are constantly adding engaging content to cater to the rising demand of customers for content variety. The pandemic resulted in rising interest among consumers to move towards entertainment offered by OTT service providers, which has led to a significant shift in content consumption. The market is expected to evolve continuously in the coming years, owing to the enormous potential for customized and consumer-centric content made available on demand.
North America is anticipated to hold a significant share of the OTT devices and services market over the forecast period, owing to the presence of key OTT service providers in the region. Additionally, the presence of major content production houses is also one of the major factors for regional market growth. Moreover, the high level of internet and smartphone penetration in the region has added to the market advancement in recent years.
Over The Top Devices And Services Market Report Scope
|
Report Attribute |
Details |
|
Market size value in 2023 |
USD 235.7 billion |
|
Revenue forecast in 2030 |
USD 1,079.1 billion |
|
Growth Rate |
CAGR of 24.3% from 2023 to 2030 |
|
Base year for estimation |
2022 |
|
Historical data |
2018 – 2021 |
|
Forecast period |
2023 – 2030 |
Over The Top Devices and Services Market Segmentation
Grand View Research has segmented the global over the top devices and services market based on type, device, service type, OTT business models, platform, and region
Over The Top Devices and Services Type Outlook (Revenue, USD Billion, 2018 – 2030)
- OTT Services
- OTT Devices
Over The Top Device Outlook (Revenue, USD Billion; Volume, Million Units, 2018 – 2030)
- Streaming Media Players
- Streaming Sticks
Over The Top Device Service Type Outlook (Revenue, USD Billion, 2018 – 2030)
- OTT Media Services
- OTT Communication Services
Over The Top Devices and Services Market – OTT Business Model Outlook (Revenue, USD Billion, 2018 – 2030)
- AVOD (Ad-based Video on Demand)
- SVOD (Subscription Video on Demand)
- TVOD (Transactional Video on Demand)
Over The Top Devices and Services Market – Platform Outlook (Revenue, USD Billion, 2018 – 2030)
- Smart Phones
- Smart TVs & Set-top Box
- Desktop & Laptop
- Others
Over The Top Devices and Services Market – Regional Outlook (Revenue, USD Billion, 2018 – 2030)
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Netherlands
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- South Africa
- Saudi Arabia
List of Key Players in the Over The Top Devices And Services Market
- Akamai Technologies
- Amazon.com, Inc.
- Apple Inc.
- Brightcove Inc.
- Disney + Hotstar
- Google LLC
- Hulu LLC
- Limelight Networks Inc.
- Microsoft Corporation
- Netflix Inc.
- PCCW Enterprises Limited
- Roku, Inc.
- Tencent Holdings Ltd.
- WarnerMedia Direct, LLC (HBO Max)
Check out more market research studies published by Grand View Research:
- Enterprise Streaming Media Market – The global enterprise streaming media market size is expected to reach USD 57.57 billion by 2025, expanding at a CAGR of 17.8% from 2018 to 2025, according to a new study conducted by Grand View Research, Inc. Increase in internet penetration has enabled multi-national companies (MNCs) to adopt streaming media solutions as an effective alternative tool for conducting meetings, conferences, product presentations, client interactions, and other corporate communication. Thus, facilitating content delivery with a customized and interactive approach.
- Live Streaming Pay-Per-View Market – The global live streaming pay-per-view market size is expected to reach USD 2.3 billion by 2027, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 15.0% from 2020 to 2027. The rising demand for online Transactional Video-on-Demand (TVoD) propels the growth of the market.
- Digital Rights Management in Media & Entertainment Market – The global digital rights management in media & entertainment market is expected to reach USD 6.12 billion by 2028, expanding at a CAGR of 16.5% from 2021 to 2028, according to the new study conducted by Grand View Research, Inc. Rapid growth in digital media and internet connectivity globally have created immense opportunities for content publishers and content distribution partners to grow their creative media content. However, with the boost in digital technologies, digital piracy and illegal distribution of content have significantly increased, negatively affecting the monetization opportunities for content distributors and content owners. These challenges are compelling content owners to seek and exercise control over the unauthorized access and distribution of content.
Browse through Grand View Research’s Digital Media Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: [email protected]
Web: https://www.grandviewresearch.com
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ABU DHABI, UAE, May 10, 2024 /PRNewswire/ — Venom, an innovative layer-0 and layer-1 blockchain network capable of hosting projects at massive scale, has continued to expand its offerings, this time forming a strategic partnership with KuCoin Ventures, the investment arm of KuCoin, a leading global crypto exchange.
The partnership follows on the heels of Venom’s launch into mainnet and the listing of the VENOM token on KuCoin.
One of the most anticipated new blockchain projects, the Venom network, has continued to make inroads across the blockchain industry following its launch into mainnet earlier this year. Venom has drawn attention due to its unique capabilities as both a layer-0 and layer-1 blockchain. The network is powered by Mesh technology, which allows it to communicate seamlessly and at great speed with other, independent networks.
Built to be capable of hosting massive platforms and projects, specifically global payment systems and CBDCs, Venom has emerged as one of the most promising new networks, with capabilities that could revolutionize what is possible in global commerce.
Now, the network has put itself in a prime position to further expand and integrate with other blockchain projects by reaching an agreement with KuCoin, one of the industry’s largest exchanges. KuCoin is one of the top-ten cryptocurrency exchanges with a daily trading volume of well over $500 million.
The new partnership would involve Venom receiving investment support for its VENOM token, while also providing enhanced visibility for projects integrated with the Venom blockchain on KuCoin. KuCoin Ventures will also provide support and resources during and after Venom projects on-boarding process.
Reached for comment on the new partnership, Venom Foundation CEO Christopher Louis Tsu had this to say: “This new partnership with KuCoin Ventures, the investment arm of KuCoin exchange, which is one of the industry’s largest and most important exchanges, marks a new chapter for the Venom network. This will open a lot of new doors for Venom and set the stage for collaborative work that will redefine this industry and allow Venom to reach its full potential. We are all very eager to see this come to fruition and what lies ahead for both us and KuCoin Ventures.”
About Venom:
Venom is a cutting-edge layer-0 and layer-1 network, seamlessly communicating and integrating with other independent networks through its innovative Mesh technology. The Venom ecosystem is anchored by a masterchain, which manages the overall network state and consensus, while workchains — an unlimited number of autonomous chains — host user accounts, smart contracts, and decentralized applications. Mesh technology revolutionizes inter-chain communication, optimizing interactions without compromising speed or unparalleled scalability. With a robust technology stack that ensures rapid finality, comprehensive security, stability, and user-friendly interfaces, Venom is the ideal network for hosting CBDCs and other large-scale platforms. Learn more at https://venom.foundation/
About KuCoin:
Launched in September 2017, KuCoin is a leading global cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform with a focus on inclusiveness and community action reach, it offers over 800 digital assets and currently provides Spot trading, Margin trading, P2P Fiat trading, Futures trading, and Staking to its 30 million users in more than 200 countries and regions. In 2023, KuCoin was named one of the Best Crypto Exchanges by Forbes and recognized as a highly commended global exchange in Finder’s 2023 Global Cryptocurrency Trading Platform Awards.
Learn more at https://www.kucoin.com.
Contact for Venom foundation:
Email: [email protected]
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A new bill introduced in the U.S. House of Representatives, known as the Blockchain Integrity Act, seeks to address concerns surrounding the use of cryptocurrency mixers and tumblers. The proposed legislation aims to regulate these privacy-enhancing tools, which are often used to obscure the origins of cryptocurrency transactions.
The bill, if passed into law, would impose strict regulations on the operation of cryptocurrency mixers and tumblers within the United States. These tools, which allow users to mix their funds with those of other users to obfuscate the transaction trail, have raised concerns among law enforcement agencies and regulators due to their potential use in money laundering, terrorist financing, and other illicit activities.
Under the Blockchain Integrity Act, operators of cryptocurrency mixers and tumblers would be required to register with the Financial Crimes Enforcement Network (FinCEN) and comply with anti-money laundering (AML) and know-your-customer (KYC) regulations. Failure to register or comply with these requirements could result in significant penalties, including fines and imprisonment.
The proposed legislation also seeks to empower law enforcement agencies to investigate and prosecute individuals and entities that operate unregistered cryptocurrency mixers and tumblers. By enhancing regulatory oversight and enforcement capabilities, the bill aims to safeguard the integrity of the blockchain ecosystem and prevent the illicit use of cryptocurrencies.
However, critics argue that the Blockchain Integrity Act could stifle innovation in the cryptocurrency space and infringe on individuals’ privacy rights. They contend that while cryptocurrency mixers and tumblers can be used for illicit purposes, they also serve legitimate privacy-enhancing functions, such as protecting users’ financial privacy and security.
The introduction of the Blockchain Integrity Act reflects growing concerns among policymakers about the potential risks associated with cryptocurrencies and their use in illicit activities. As lawmakers continue to grapple with these issues, it remains to be seen how the regulatory landscape for cryptocurrencies will evolve in the United States and around the world.
Source: cointelegraph.com
The post Proposed US Blockchain Integrity Act would ban crypto mixers for 2 years appeared first on HIPTHER Alerts.
The government-owned KfW Bank, based in Germany, is delving further into its plans to issue digital bonds leveraging blockchain technology. This move underscores the institution’s commitment to exploring innovative financial solutions in the digital age.
The proposed digital bond issuance is poised to mark a significant milestone for KfW, as it seeks to embrace the transformative potential of blockchain technology. By tokenizing bonds on a blockchain platform, KfW aims to streamline the issuance process, enhance transparency, and optimize operational efficiency.
One of the key advantages of digital bonds lies in their potential to reduce the reliance on intermediaries and streamline the entire bond lifecycle. Through blockchain-based tokenization, KfW aims to automate various aspects of bond management, including interest payments and maturity settlements, thereby reducing the need for manual intervention and minimizing operational costs.
Moreover, digital bonds have the potential to enhance liquidity in the secondary market, allowing investors to trade bonds seamlessly on digital asset exchanges. This increased liquidity could attract a broader range of investors, thereby diversifying KfW’s investor base and potentially lowering borrowing costs.
In addition to the issuance of digital bonds, KfW is also exploring the integration of blockchain technology into other areas of its operations. By leveraging blockchain for various use cases, such as trade finance and supply chain management, KfW aims to unlock new efficiencies and drive greater transparency across its ecosystem.
Overall, KfW’s foray into blockchain-based digital bonds underscores its commitment to innovation and its recognition of the transformative potential of blockchain technology. As the institution continues to explore and implement blockchain solutions, it is poised to stay at the forefront of digital innovation in the financial sector.
Source: ledgerinsights.com
The post Government-owned KfW elaborates on blockchain digital bond plans appeared first on HIPTHER Alerts.
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