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Over The Top (OTT) Devices and Services Market to Hit $1,079.1 Billion by 2030: Grand View Research, Inc.

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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.

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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

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Market size value in 2023

USD 235.7 billion

Revenue forecast in 2030

USD 1,079.1 billion

Growth Rate

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CAGR of 24.3% from 2023 to 2030

Base year for estimation

2022

Historical data

2018 – 2021

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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

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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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Blockchain

Legal Luminary Sarah Brennan Champions Pioneering Crypto Regulation Approaches

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Sarah Brennan, an accomplished figure in corporate and securities law, serves as General Counsel at Delphi Ventures, focusing on investments in the Web3 space. With over 14 years of experience in securities law and a deep involvement in digital assets since 2017, Brennan also co-leads LeXpunK, a collective dedicated to establishing legal frameworks for decentralized digital communities.

In a candid interview with a prominent cryptocurrency news outlet, Brennan discussed various critical topics. She addressed the emergence of crypto super PACs, funded significantly by major firms like Ripple and Circle, to counter strict SEC regulations. Brennan viewed the SAB 121 bill, backed by the US administration, as potentially isolating the crypto community from broader financial integration.

While acknowledging the influence of centralized entities in advocating for crypto interests, Brennan cautioned against replicating traditional financial hierarchies within the crypto sphere, which contradicts its revolutionary ethos. She expressed concerns about monopolistic scenarios that could dominate the crypto landscape, exerting excessive control over essential industry components and traditional financial operations.

Regarding regulatory challenges, Brennan advocated for tailored regulations to manage systemic risks posed by large centralized crypto institutions. She criticized the current regulatory opacity and inconsistency, which she believes have fostered suboptimal business practices. Through LeXpunK, Brennan endeavors to pioneer experimental legal structures that could redefine regulatory compliance for token issuances, though reception from policymakers has been lukewarm.

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Looking ahead, Brennan emphasizes the need for proactive regulatory approaches using antitrust measures to prevent crypto monopolies, promote decentralization, and target bad actors. However, she highlighted the persistent communication gap between crypto-literate legal advocates and hesitant regulators as a significant obstacle.

Brennan continues to drive forward her mission through new advocacy platforms aimed at shaping the future of cryptographic regulation, navigating complexities to ensure balanced and effective regulatory frameworks in the evolving crypto landscape.

Source: shakirabrasil.info

The post Legal Luminary Sarah Brennan Champions Pioneering Crypto Regulation Approaches appeared first on HIPTHER Alerts.

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Blockchain

Italy Ramps Up Crypto Oversight in Line with MiCA

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Italy is preparing to strengthen its oversight of cryptocurrency markets to align with the European Union’s Markets in Crypto-Assets (MiCA) regulatory framework. This initiative, initially enacted in 2022, aims to impose stricter monitoring of digital asset markets, particularly targeting insider trading and market manipulation. Under the new decree, fines ranging from 5,000 to 5 million euros ($5,400 to $5.4 million) will be imposed based on the severity of violations, reinforcing compliance and market integrity.

For blockchain firms and decentralized finance (DeFi) protocols, MiCA presents significant challenges. These entities must decide between fully decentralizing their networks or complying with MiCA’s Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations. Fully decentralized networks are exempt from reporting requirements but risk non-compliance if they employ foundations or intermediaries moderating communities.

Centralized exchanges like Binance are adapting to MiCA by categorizing stablecoins as authorized or unauthorized, aligning with regulatory requirements without delisting these assets from spot markets. Uphold has similarly adjusted by delisting certain stablecoins for compliance purposes.

Despite regulatory pressures, experts are optimistic about stablecoins’ future. Figures like Jeremy Allaire, CEO of Circle, predict stablecoins could represent 10% of the money supply within a decade. They anticipate widespread adoption driven by benefits such as financial inclusion, lower remittance costs, and seamless cross-border commerce via public blockchains.

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This regulatory framework underscores the transformative potential of stablecoins and blockchain technology within the global financial system.

Source: coinfomania.com

The post Italy Ramps Up Crypto Oversight in Line with MiCA appeared first on HIPTHER Alerts.

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Blockchain

1inch Network Teams Up with Blockaid for Shield API

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1inch Network has collaborated with Blockaid to introduce the 1inch Shield API, a pioneering advancement in Web3 security. This collaboration aims to enhance user protection within decentralized finance (DeFi) by bolstering defenses against fraudulent tokens. Blockaid, renowned for its expertise in Web3 security solutions, utilizes advanced data analytics and machine learning to swiftly identify and flag scam tokens, safeguarding users from potential financial risks.

The 1inch Shield API also addresses compliance with Anti-Money Laundering (AML) regulations through continuous screenings of blockchain addresses. Powered by TRM Labs, this feature scrutinizes addresses for associations with sanctioned entities and illicit activities, preemptively restricting suspect addresses to prevent regulatory infractions.

Additionally, 1inch integrates Etherscan Pro’s blocklisting capabilities to proactively blacklist suspicious addresses, further fortifying its security measures.

This initiative marks a significant milestone in DeFi security, promising unparalleled levels of security and compliance. As 1inch continues to deploy this technology across its platform, it aims to provide developers and users with enhanced protection and confidence in navigating the Web3 landscape.

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Source: cryptotimes.io

The post 1inch Network Teams Up with Blockaid for Shield API appeared first on HIPTHER Alerts.

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