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.
Based on the Type:
Here, Video on Demand is anticipated to dominate the Middle East & Africa Market during the forecast period. It owes principally to the increasing adoption of high-speed fixed broadband connections, especially across countries like the UAE & Qatar, i.e., augmenting the demand for video-on-demand OTT platforms for entertainment. Besides, the introduction of 5G network across densely populated countries is also likely to attract a greater customer base for video-on-demand services in the coming years.
As a result, the burgeoning demand for OTT platforms based on 'Video on Demand' services would fuel the overall market growth during 2022-27. Moreover, the increasing focus of the OTT service providers on expanding their customer base is further projecting a growing number of partnerships with operators throughout the Middle East & Africa during the forecast period.
Based on the Service Vertical:
Of them all, the demand for OTT platforms for Media & Entertainment purposes is anticipated to observe a significant growth in the Middle East & Africa OTT Platform Market during the forecast period. It owes principally to the growing inclination of the people, especially the younger generation, on films, web series, documentaries, etc., i.e., projecting a mounting utilization of OTT platforms in the coming years.
In addition, since approximately 50% population of countries in the Middle East is less than 30 years of age, the market is anticipated to have an opportunistic prospect for Media & Entertainment OTT platforms in the coming years. Besides, the growing popularity of Bollywood & Hollywood video content across the region entwined with the availability of streaming such content at affordable prices is another crucial aspect likely to play a crucial role in driving the market through 2027.
Geographically, the Middle East & Africa OTT Platform Market expands across:
Here, UAE would remain a prominent contributor to the overall growth of the OTT Platform Market during the forecast period. It owes principally to the increasing penetration of the internet & smart devices entwined with new marketing strategies by the service providers, gaining a massive customer base across the country.
Besides, the extensive availability of OTT subscriptions at affordable rates & growing awareness about such platforms are also fueling the market growth across the UAE. Moreover, growing customer preference for 'Video on Demand' for Sports, International TV series, & Hollywood releases, among others, are anticipated to continue fueling the demand for OTT platforms in the UAE over the coming years.
Key Driver: Growing Production of Original Content by Companies
Since OTT platforms are gaining swift momentum & popularity across the Middle East & Africa, several production houses are seeking to release original content on these platforms based on the choices & viewer preferences in different countries across the region. It, in turn, is displaying an increasing adoption of these platforms among the Middle East population, which, in turn, would drive the market through 2027.
Key Questions Answered in the Market Research Report:
Frequently Asked Questions
A. Media & Entertainment is anticipated to emerge as an opportunity area for the leading players in the market during 2022-27.
A. Media & Entertainment is anticipated to emerge as an area of remunerative opportunities for the leading players in the Middle East & Africa OTT Platforms Market through 2027.
A. In the coming years, the adoption of habits like binge-watching & constant releases of new content on OTT platforms would display an expanding customer base across the Middle East & Africa and generate lucrative growth opportunities for the leading players in the Middle East & Africa OTT Platform Market.