Indonesia Over-The-Top (OTT) Market is Likely to Increase At a Significantly High CAGR During Forecast Period 2030
The rise in popularity of direct carrier billing and the rise in subscriptions of over-the-top videos (SVoD) propel the growth of the Indonesia OTT market.
PORTLAND, PORTLAND, OR, UNITED STATE, October 20, 2022 /EINPresswire.com/ — As per the report, the Indonesia OTT market generated $360.0 million in 2019, and is projected to reach $4.45 billion by 2027, growing at a CAGR of 33.1% from 2020 to 2027.
The growth of the Indonesia OTT Market is driven by factors such as the rise in the popularity of direct carrier billing in the over-the-top market and the rise in subscription of over-the-top videos (SVoD) in Indonesia. In addition, the economic charges of OTT services and high internet speed further boost growth of the market.
However, challenges in consumer engagement and the rise in piracy of the digital streaming ecosystem hinder the Indonesia OTT market growth. On the contrary, a shift in focus toward the generation of local content and integration of advanced technologies such as machine learning and artificial intelligence in OTT services are anticipated to offer lucrative opportunities for the market.
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In 2019, the Indonesia OTT market share was dominated by the solutions segment and is expected to maintain this trend during the forecast period. This is attributed to the rising demand for innovative over-the-top solutions for media sharing by consumers. Over-the-top streaming service providers allow users to directly transmit media anywhere at any time.
However, the services segment is expected to witness the highest growth as there has been an increase in adoption of services among end users, as they ensure the effective functioning of software and platforms throughout the process. Moreover, an increase in the adoption of OTT software and platforms is expected to boost demand for these services.
Depending on device type, the smartphone segment dominated Indonesia’s over-the-top market share in 2019, and is expected to continue this trend during the forecast period. The growth of the segment is attributed to the increasing use of smartphones to stream OTT services.
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There is a potential market for larger-screen smartphones in Indonesia. In addition, the advent of affordable Android-based smartphones has democratized online gaming and brought the gameplay to millions of smartphone users across the country.
Depending on content type, the video segment dominated the Indonesia over-the-top market share in 2019, and is expected to continue this trend during the forecast period as online video streaming is a more feasible option available for consumers with rapid commoditization of data and ongoing price wars. This has led to an influx of various global, local, and independent platforms across Indonesia in the past year that focus on capitalization in the market.
Some of the key Indonesia OTT industry players profiled in the report include Amazon Prime Video, CatchPlay, Iflix, Mola TV, PT. Media Nusantara Citra Tbk. (MNC Media), Netflix Indonesia, PT Telekomunikasi Selular (Telkomsel), PT. Telekomunikasi Indonesia, Tbk (Telkom Indonesia), Vidio.com, and Viu. This study includes Indonesia OTT market trends, Indonesia OTT Market analysis, and future estimations to determine the imminent investment pockets.
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KEY FINDINGS OF THE STUDY:
• By component, in 2019 the solutions segment dominated the Indonesia OTT Market size. However, the services segment is expected to exhibit significant growth during the forecast period.
• On the basis of device type, the smartphone segment accounted for the highest revenue in 2019.
• Depending on content type, in 2019, the video segment generated the highest revenue in Indonesia’s OTT Industry.
• On the basis of the revenue model, the advertising segment accounted for the highest revenue in 2019, however, the subscription segment is expected to witness the highest growth rate in the forecasted period.
• On the basis of user type, the commercial segment accounted for the highest revenue in 2019, however, the personal segment is expected to witness the highest growth rate in the forecasted period.
• Depending on the end user, the media & entertainment segment accounted for the highest revenue in 2019, however, the E-commerce segment is expected to witness the highest growth rate in the forecasted period.
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