The Over the Top (OTT) services are used by many companies operating in different verticals to manage and improve the flow of communications, knowledge sharing, and peer interaction. By using OTT services, companies can increase the footprint of customers in their stores by offering them various discounts using location-based services. The other benefits of OTT solutions include cost saving, better supply chain in decision making, and improved customer loyalty by the provision of personalized solutions.
MarketsandMarkets forecasts the global Over The Top market to grow from $25.33 billion in 2014 to $54 billion by 2019, at a Compound Annual Growth Rate (CAGR) of 16.3%.
The prominent vendors in the OTT space include Akamai, Apple, Facebook, Google, Limelight, Microsoft, Netflix, Nimbuzz, Tencent Holding, and Yahoo.
The players are rigorously building onto their product portfolio to provide more efficient solutions to the businesses. There have been major acquisitions pertaining to the OTT market. In February 2013, Facebook acquired WhatsApp to become one of the major players in the OTT market.
The OTT services are finding major applications in verticals, such as Banking, Financial Services, and Insurance (BFSI), media and entertainment, and IT and telecom. The retail, transportation, and healthcare verticals also show significant amount of growth in this market during the forecast period.
The major segments included in this report for the period 2014–2019 are in terms of content, access type, and vertical and their submarkets with respect to region. The contents such as audio/voice and video can be further divided into granular segments for better insights. The report also includes forecast for the period 2014–2019, admitting the submarkets with respect to regions, including North America (NA), Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and Latin America (LA); verticals; and types of access. The data for various countries in these regions can also be customized and provided for analysis of market component and driving trend.
For More Information on Over The Top (OTT) Market: Click Here