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Over the Top (OTT) Global Market Report 2022: Sector to Reach $1.25 Trillion by 2027 at a 29.51% CAGRDUBLIN, Jan. 23, 2023 /PRNewswire/ -- The "Over the Top (OTT) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.  The global over the top (OTT) market reached a value of US$ 265.1 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 1,251 Billion by 2027, exhibiting a CAGR of 29.51% during 2021-2027. The OTT refers to the media service that facilitates the delivery of audio, video and digital media content over the internet. This content gets transmitted over various electronic devices, such as smartphones, smart televisions and other connected devices without requiring a multi-system operator for the distribution. This service offers unlimited data streaming and enables viewers to access content as per their convenience. Apart from this, OTT is also used for streaming music, live broadcasting, watching educational channels, advertising and communication. The growing media and entertainment industry, along with the rising sales of smart computing devices across the globe, is one of the key factors driving the growth of the market. In line with this, widespread adoption of OTT services and high-quality streaming content over devices, such as smartphones, laptops, smart televisions, computers and tablets, is further contributing to the market growth. In comparison to the traditionally used cables and satellite television sets, devices offering OTT media services provide higher portability, convenience, accessibility and connectivity. Furthermore, the deployment of artificial intelligence (AI) by OTT service providers is also providing a boost to the market growth. Service providers are increasingly utilizing advanced technologies to analyze users' preferences and offer them customized content. This improves the overall experience of the user, thus favoring the adoption rates of OTT. Additionally, significant developments in the communication infrastructure and increasing penetration of high-speed internet across emerging nations, are also creating a positie outlook for the market. Other factors, including rapid urbanization, inflating disposable incomes and increasing consumer expenditure on entertainment and related services, along with extensive research and development (R&D) activities, are expected to drive the market in the upcoming years. Key Market Segmentation: The publisher provides an analysis of the key trends in each sub-segment of the global over the top (OTT) market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, platform type, deployment type, content type, revenue model, service type and vertical. Breakup by Component:
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For more information about this report visit https://www.researchandmarkets.com/r/u6b8kb About ResearchAndMarkets.com ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Media Contact: Research and Markets Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
SOURCE Research and Markets 
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