Rising adoption of device-based computing is pushing over the top (OTT) market, globally, with Asia-Pacific (APAC) expected to grow at the highest CAGR for OTT platform. Over the Top market is estimated to grow from USD 28.04 billion in 2015 to USD 62.03 billion by 2020, at an estimated CAGR of 17.2%, according to a new report from the RnRMarketResearch.com.
Adoption of device-based computing, potential growth in demand for content, increase in requirement for compliance and verification, increase in wide availability of broadband infrastructure, personalization of technology are some of the prominent factors driving the adoption of OTT platforms and services.
APAC is estimated to grow at the highest CAGR for the OTT platform market during the forecast period due to rising connectivity of broadband across regions and demand across large enterprise systems.
On-premise based OTT is the largest contributor than the cloud-based OTT but the latter is expected to surpass the former due to the higher adoption rate of cloud technologies. Managed services in the services segment is expected to grow at the highest CAGR during the forecast period.
Easy accessibility of broadband technology is contributing to the increasing popularity of OTT. Considerable parts of OTT services are delivered over smart devices. So, countries such as the U.S. and Canada, which have better connectivity, can have a wide circulation of OTT apps. Furthermore, the broadband connectivity has increased its footprints globally.
Due to this, the other Internet-enabled devices including smart TVs, STBs, and gaming consoles can also be used for the provision of OTT services. The advantage of using OTT service is that it is less costly in contrast to other traditional modes.
On a related note, another research on Enterprise Information Archiving Market Global Forecast and Analysis to 2020 says, the enterprise information archiving market size is expected to grow from USD 4.31 billion in 2015 to USD 7.55 billion in 2020, at a Compound Annual Growth Rate (CAGR) of 11.8%.
