London, 05 May 2015 – With the increased penetration of mobile devices and internet, the Global OTT Market is expected to grow at a CAGR of 18.4 % from 2015-2019, says research firm Technavio.
About the Report
Technavio research indicates that global smartphone penetration was more than 35% in 2014 and has since gradually increased. This clearly indicates that the global OTT market will show a steady growth in the forecast period.
“The reason for this high penetration rate is because of evolving consumer needs and the fact that these devices are affordable in both developed and developing nations,” says Faisal Ghaus, Vice President of Technavio.
The new market research report by Technavio also emphasizes content customized to local needs which is crucial in terms of purchasing mobile apps and accessing content like news and health services. Addressing specific language obstacles, network speeds and the need for region-specific content is also a part of this.
Furthermore, reaching and targeting consumers is becoming increasingly vital as more and more consumers are moving to mobile space.
Market Scope and Calculation of Market Size
This report covers the present scenario and growth prospects of the global OTT market for the period 2014–2019. It presents the detailed analysis of the OTT market on the basis of the following categories:
- Text and Image
- Voice/Audio
- Video
Key Information Covered in the Report:
Key Vendors:
- Akamai Technologies Inc.
- Apple Inc.
- Facebook, Inc.
- Google, Inc.
- Netflix, Inc.
Market Growth Drivers:
Increased penetration of mobile devices and internet
For a full detailed list, view our report.
Market Challenges:
- Consumer reluctance to spend on premium services
- For a full detailed list, view our report.
Market Trends:
- Content and network customized to local needs
- For a full detailed list, view our report.
https://www.technavio.com/%3Cp%3E%3Ca%20href%3D%22http%3A//www.technavio….
