LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global over-the-top (OTT) devices and services market report until 2020. This research report also lists eight other prominent vendors that are expected to impact the market during the forecast period.
In 2015, the global OTT devices and services market was valued at USD 26.87 billion, and it will reach USD 68.55 billion by 2020, growing at a CAGR of close to 21% during the forecast period. “One of the major factors influencing the rapid growth and increased adoption of OTT services is the decreased cost of data transfer in the form of IP packets instead of traditional and more expensive voice calls and SMS,” says Ujjwal Doshi, a lead analyst at Technavio for research on computer devices.
Competitive vendor landscape
The global OTT devices and services market is highly fragmented as it comprises many vendors, both international and domestic. With international players increasing their presence in many regions, domestic vendors are finding it difficult to compete with them in terms of quality, features, safety, and price.
Many international players will grow inorganically during the forecast period by acquiring domestic players that will increase their market shares by expanding their respective product portfolios. In addition, international players are continually launching innovative products and services in developing countries to take advantage of the economic growth.
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Top five OTT devices and services market vendors
Amazon
Amazon is an online retailer that offers a wide range of products. The company manufactures and sells electronic devices like Kindle e-readers, Fire tablets, Fire TVs, Echo, and Fire phones. The company offers Amazon Prime, an annual membership program that includes unlimited free shipping, access to unlimited instant streaming of thousands of movies and TV shows, and free access to books to borrow and read on a Kindle device. It also offers a wide set of global compute, storage, database, analytics, applications, and deployment services through Amazon Web Services (AWS).
Apple
Apple offers PCs, mobile devices, operating systems, related software and applications, and peripherals. The company's key product offerings are classified under the iPhone, iPad, Mac, iTunes, Software, Services, Accessories, and iPod segments. It offers its own operating systems iOS and OS X, different application software services including iWork and iLife, and Apple TV. In addition, Apple distributes third-party digital content and applications through its iTunes Store and App Store.
Facebook is an online social networking company connecting millions of users. The company helps brand marketers and SMBs (small and medium businesses) to increase sales and brand awareness. It also offers a set of tools and application programming interfaces for program developers to build mobile and web applications that can be easily integrated with Facebook.
Hulu
Hulu is a prime player among digital video content players in the market. Its content is available on mobiles, PCs, TVs, and gaming consoles. Its key competitors are Netflix and Amazon Prime. The company broadcasts a range of TV shows, movies, and other telecasts for the viewers. In July 2015, it offered free trials for its showtime programs to viewers for 30 days. In addition, it intends to launch an ad-free subscription service to enable the viewers to watch the show without any interruption. Now, Apple watch also offers remote control services to Hulu subscribers for easy navigation.
Netflix
Netflix is an Internet television network that offers TV shows and movies, including original series. Subscribers can watch content as per their convenience anytime on any Internet-connected screen.
The company operates through its three business segments: Domestic Streaming, International Streaming, and Domestic DVD. The Domestic and International Streaming segments' revenues are derived from monthly membership fees for services that consist of streaming content. The domestic DVD segment's revenue stems from monthly membership fees for services that consist of DVD-by-mail.
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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