Press Release

OTT Platform Market to Reach USD 595 Billion by 2030 at a Steady CAGR of Around 16.7%

The Global OTT Platform Market size was valued at around USD 235 billion in 2024 and is projected to reach USD 595 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 16.7% during the forecast period, i.e., 2025-30, cites MarkNtel Advisors in the recent research report. The worldwide market for OTT platforms has grown significantly as a result of millennials' growing use of these services. With 36 million new members, Netflix experienced its biggest annual growth to date. This market tends to be driven by rising demand for music and video services globally. A few factors like changes in the lifestyle of people, growing internet penetration, and shifts in consumer preferences have all contributed to the uptake of OTT platforms. Various OTT platforms like; Netflix and Spotify have a growing popularity among audiences worldwide on account of their diverse offerings like audience-specific content in a range of different languages and genres.

The rise in content piracy cases caused by the popularity of web series on over-the-top platforms has presented a significant challenge to the industry. Additionally, roughly half of Indians admitted to using pirated content in some way. Artificial intelligence adoption is transforming the over-the-top platform market by increasing personalization and operational efficiency and effectively dealing with market challenges. AI is also being used by platforms to enable dynamic content pricing, enhance user retention, and offer real-time analytics.

In addition, companies are actively tailoring their content to meet the demands of their customers and expanding their portfolios through acquisitions and joint ventures. Several strategic moves by industry leaders along with ongoing efforts to improve user experience and diversify content are expected to propel the OTT platform market growth in the coming years. Adding local content utilizing advanced recommendation algorithms and expanding globally will all be crucial to maintaining this growth, further states the research report, “Global OTT Platform Market Analysis, 2025”.

Global OTT Platform Market Segmentation Analysis

Video-On-Demand Segment to Hold the Largest Market Share

Based on type, the market is further bifurcated into Video on Demand, Communication, Music Streaming, and Online Gaming. During the forecast period, Video on demand is estimated to account for the largest share of around 45% of the Global OTT Platform Market. The major reason for the growth of video-on-demand platform services is due to user-friendly interfaces and customized experiences for consumers. Key factors driving customer attraction to OTT platforms include flexible viewing timing, customized media content selection, and the convenience of accessing media controls like rewind, stop, fast-forward, etc.

North America Leads the Global OTT Platform Industry

Geographically, North America is currently dominating the entire market of OTT with a market share of around 35%. The dominance of this region is because of an impressive average price of OTT content viewed per month in homes. Moreover, the market expansion is attributable to considerable growth in the establishment of Wi-Fi connections and the introduction of 5G connectivity in the region. Furthermore, substantial investment from industry stakeholders, combined with the emergence of new OTT players, is paving the path of growth & expansion of the regional market. Also, the presence of various OTT series and movies further attracts consumers and contributes to the growth of the market in the region.

Competitive Landscape

With strategic initiatives such as mergers, collaborations, and acquisitions, the leading market companies, including Amazon.com, Inc., Netflix, Inc., Hulu, LLC, Google LLC, Apple Inc., Telstra Corporation Ltd., Facebook, Inc., Kakao Corp., Vimeo Live, Rakuten, Inc., The Walt Disney Company, IndieFlix Group Inc., Home Box Office, Inc., XUMO, STARZ, and Others are looking forward to strengthening their market positions.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the globe?
4. How has the industry been evolving in terms of geography & solution adoption?
5. How has the competition been shaping up across various regions?
6. How have buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2020-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?