India Over the Top (OTT) Market Expects to Exhibit a CAGR of 25.07% during 2022-2027
The market in India is primarily driven by the increasing penetration of high-speed internet connectivity.
DELHI, INDIA, August 29, 2022 /EINPresswire.com/ — IMARC Group’s latest research report, titled “India Over the Top (OTT) Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” The India over the top (OTT) market is expected to exhibit a CAGR of 25.07% during 2022-2027. Over-the-top (OTT) is an online media streaming platform that delivers web series, films, and personalized television (TV) content directly to users over the internet on a subscription basis. It can be downloaded and viewed on user’s demand across various internet-connected devices, such as smartphones, personal computers (PCs), consoles, and tablets. Apart from this, it offers audio, video, Voice over Internet Protocol (VoIP) services, communication, and gaming solutions that can be accessed and watched easily in a cost-effective manner. Some of the common OTT types include subscription video on demand (SVOD), transactional video on demand (TVOD), and advertising-based video on demand (AVOD).
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Covid-19 Outbreak:
The rapid outbreak of coronavirus disease (COVID-19) and the consequent implementation of mandatory lockdown restrictions across the globe had positively impacted the India Over the Top (OTT) market. Due to the government’s internment and strict stay-at-home orders, the demand for over the top (OTT) has increased among the masses. The significant shift in consumption patterns and media usage as a result of partial and complete lockdowns in order to prevent the spread of coronavirus has accelerated the market growth across the country.
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Industry Trends:
The market in India is primarily driven by the increasing penetration of high-speed internet connectivity. Additionally, the rising adoption of OTT platforms across industries, such as telecom, information technology (IT), banking, financing, servicing, and insurance (BFSI), and government for advertising purposes, is boosting the demand across the country. In addition to this, continual technological advancements that enable easy access to stream services on internet-based applications and electronic gadgets, including mobiles, consoles, and smart televisions (TVs), is positively influencing the market. Moreover, the advent of various online OTT platforms with the list of subscription-based narrowed genre podcasts, music films, television programs, series, and videos are creating a positive market outlook. Some other factors driving the market further include rapid urbanization, inflating disposable income levels of individuals, and strategic collaborations of OTT operators with multichannel video programming distributors (MVPDs).
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Key Market Segmentation:
Breakup by Component:
• Solution
• Services
Breakup by Platform Type:
• Smartphones
• Smart TV’s
• Laptops Desktops and Tablets
• Gaming Consoles
• Set-Top Boxes
• Others
Breakup by Deployment Type:
• Cloud
• On-Premise
Breakup by Content Type:
• Voice Over IP
• Text and Images
• Video
• Others
Breakup by Revenue Model:
• Subscription
• Procurement
• Rental
• Others
Breakup by Service Type:
• Consulting
• Installation and Maintenance
• Training and Support
• Managed Services
Breakup by Vertical:
• Media & Entertainment
• Education & Training
• Health & Fitness
• IT & Telecom
• E-Commerce
• BFSI
• Government
• Others
Breakup by Region:
• North India
• West and Central India
• South India
• East India
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
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