Over the Top (OTT) platforms are media services that offer direct streaming of videos for the customers on devices like smartphones, laptops, tablets, desktops, televisions, etc., over the internet. The growing inclination of people on these platforms is swiftly bypassing other platforms like cables, broadcast, & satellite televisions, among other conventional sources.
The Middle East & Africa OTT Platform Market is expecting a momentous growth rate during the forecast period, i.e., 2022-27. The growth of the market is likely to be driven primarily by the cutting-edge technological developments in devices like smartphones, laptops, tablets, & desktops, i.e., generating lucrative growth opportunities for the leading players to introduce new OTT platforms and offer high-quality videos & audio to enhance customer experience.
|Study Period||Historical Data: 2017-20|
|Base Year: 2021|
|Forecast Period: 2022-27|
|Country Covered||UAE, Saudi Arabia, Qatar, Bahrain, Oma,n Kuwait, Egypt, South Africa, Others|
|Key Companies Profiled||Telly, Amazon, Netflix, StarzPlay, Apple TV+, beIN Connect, Turkcell, Wavo, Vimeo, Shahid Plus|
|Unit Denominations||USD Million/Billion|
Besides, the growing customer preference for OTT platforms for entertainment entwined with an escalating internet penetration is also anticipated to drive the market across the Middle East & Africa over the forecast years. Moreover, rapid technological advancements like voice control, improved picture quality, streaming channels, etc., in smart devices are other prominent aspects projected to fuel the demand for OTT platforms & drive the market through 2027.
Impact of Covid-19 on the Middle East & Africa OTT Platform Market
The advent of Covid-19 in 2020 had an immensely positive impact on the Middle East & Africa OTT Platform Market. With the imposition of stringent movement restrictions & lockdowns, governments suspended public gatherings across cinema halls, movie theatres, stadiums, etc. It, in turn, enabled the customers to incline toward the OTT platforms for various purposes like Education & Learning, Media & Entertainment, and Gaming, among others, which projected a hike for the leading players in the OTT Platforms market amidst the crisis.
Moreover, with the upliftment of restrictions after a declining number of Covid-19 cases, the market is witnessing an upswing, owing to adopted habits of binge-watching & constant content releases on these platforms. Hence, the growth prospect of the Middle East & Africa OTT Platform Market would be highly lucrative in the years to come.