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OTT Market to Grow by USD 630.5 Billion (2024-2028) with Cloud Streaming Boost, AI-Powered Market Evolution Report- Technavio

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NEW YORK, Sept. 17, 2024 /PRNewswire/ — Report on how AI is driving market transformation- The global over the top (OTT) market size is estimated to grow by USD 630.5 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 27.77% during the forecast period. Growing preference for cloud streaming services is driving market growth, with a trend towards growing number of partnerships and acquisitions. However, illegal downloading and piracy poses a challenge. Key market players include 8×8 Inc., Alphabet Inc., Amazon.com Inc., Apple Inc., Cineverse Entertainment Corp., Comcast Corp., Deezer SA, Meta Platforms Inc., FlixFling LLC, iflix Ltd., iMPACTFUL Group Inc., Microsoft Corp., Netflix Inc., Paramount Global, Sirius XM Holdings Inc., Sony Group Corp., Spotify Technology SA, Telstra Corp. Ltd., Tencent Holdings Ltd., and The Walt Disney Co..

AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View your snapshot now

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Content Type (Video, Text and images, VoIP, and Music streaming), Device (Smartphones and tablet, Laptop and desktop, and Smart TV), and Geography (North America, Europe, APAC, South America, and Middle East and Africa)

Region Covered

North America, Europe, APAC, South America, and Middle East and Africa

Key companies profiled

8×8 Inc., Alphabet Inc., Amazon.com Inc., Apple Inc., Cineverse Entertainment Corp., Comcast Corp., Deezer SA, Meta Platforms Inc., FlixFling LLC, iflix Ltd., iMPACTFUL Group Inc., Microsoft Corp., Netflix Inc., Paramount Global, Sirius XM Holdings Inc., Sony Group Corp., Spotify Technology SA, Telstra Corp. Ltd., Tencent Holdings Ltd., and The Walt Disney Co.

 

Key Market Trends Fueling Growth

The global Over-The-Top (OTT) market is experiencing significant growth due to the rising demand for audio and video content. To stay competitive, vendors are forming strategic partnerships and acquisitions. In March 2022, Amazon Prime Video acquired Metro-Goldwyn-Mayer Studios (MGM), adding over 4,000 films and 17,000 TV series to its library, including franchises like James Bond and Rocky. In July 2022, Netflix bought Australian animation studio, Animal Logic, to expand its long-form animated content production. These collaborations will strengthen the market’s growth trajectory during the forecast period. 

In the dynamic world of media and entertainment, Over-the-Top (OTT) platforms have taken center stage, particularly in developed countries. With an increasing demand for data traffic, OTT services including podcasts, audio streaming, and OTT media have become the new norm. Satellite providers are shifting focus from provider-based models to OTT devices for wider device availability. Personalized data and social media marketing are key trends driving growth in this sector. OTT communication, online services, and OTT applications are now accessible on Laptops, Desktops, Cloud, On-Premises, Gaming Consoles, Set-top Box, and more. Hybrid models, commercial partnerships, and vertical integrations are shaping the market snapshot. Subscription-based monetization, advertisement, and transaction-based monetization models are prevalent in SVoD services. Freemium models and Indian OTT services offer HD resolution, web performance, and high frame rates for digital video viewers. The OTT market encompasses media and entertainment, telecommunications, online gaming, and more, with e-commerce and alcohol choice adding to the mix. The future of OTT is bright, with continuous innovation and expansion. 

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Market Challenges

The global Over-The-Top (OTT) market faces a significant challenge with piracy, which has become a major concern for content providers. The ease of downloading movies, games, and music for free, with minimal risk of legal consequences, is a pressing issue. In Europe, countries such as the UK, France, and Germany have strict piracy laws. However, in other EU countries, piracy is rampant. The shift to digital content and the growing internet base have made it harder to prevent piracy. In some countries, such as Switzerland, downloading copyrighted content for personal use is allowed but uploading is illegal. Location piracy through Virtual Private Networks (VPNs) or false location apps is also on the rise, causing a loss of revenue for broadcasters. Canada and Brazil have lenient copyright laws, restricting access to OTT services. India, with its high incidence of digital piracy, significantly impacts the sales of original streaming services. This piracy affects the revenue inflow in the global OTT market, particularly in content publishing, and may hinder the growth of the market during the forecast period.The Over-The-Top (OTT) market is experiencing rapid growth as more viewers shift from traditional TV to on-demand streaming services. However, challenges persist. OTT adoption faces resistance due to narrow genre choices and limited packaging flexibility. Wider device compatibility, on-demand viewing, and high-quality content in HD and UHD are essential. Content creators, business models, and subscription fees are key considerations. Subscriptions and new subscribers require a user-friendly interface and personalized recommendations. Higher internet speeds, smart devices like tablets and smart TVs, and broadband are essential for seamless playback. Buffering times and data analytics are crucial for improving the customer experience. Film studios, broadcasters, and advertisers seek to monetize OTT through subscription fees, streaming licenses, local content, and advertisements. The future of OTT includes personalization, recommendation algorithms, and revenue generation through subscription VoD, gaming services, and rich media experiences on handheld devices and game streaming with HD quality and 5G technology.

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Segment Overview 

This over the top (ott) market report extensively covers market segmentation by

Content Type1.1 Video1.2 Text and images1.3 VoIP1.4 Music streamingDevice 2.1 Smartphones and tablet2.2 Laptop and desktop2.3 Smart TVGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Video- The Over-The-Top (OTT) market refers to the delivery of media content directly to consumers via the internet. This includes streaming services for movies, TV shows, and live events. OTT platforms provide convenience and flexibility, allowing users to access content on demand. Companies like Netflix, Amazon Prime Video, and Disney+ have significantly increased their presence in this market, offering a wide range of content at affordable prices. These platforms have become essential for many consumers, providing them with entertainment options that cater to their diverse preferences. The OTT market is expected to continue growing, as more and more consumers cut the cord on traditional TV and opt for online streaming services.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022) 

Research Analysis

Over-the-Top (OTT) refers to video and audio media content delivered via the Internet, bypassing traditional cable and satellite television. OTT platforms offer on-demand access to a vast library of content, including movies, TV shows, podcasts, and audio streams. Subscription fees and advertisements fund these services, providing an alternative to broadcasters and traditional TV. OTT platforms prioritize customer experience, offering personalized data and wider device availability. The content selection on OTT is often more narrow compared to traditional TV, but the packaging options allow for greater flexibility. Streaming licenses enable local content and satellite providers to join the OTT market. The rise of OTT has led to increased competition and innovation in home entertainment, with streaming services becoming a significant player in the media landscape.

Market Research Overview

Over-the-Top (OTT) refers to video and audio media content delivered over the Internet, bypassing traditional cable and satellite television. OTT platforms offer on-demand access to movies, TV shows, live events, original programming, and more, available on high-speed Internet. OTT adoption is on the rise due to narrow genre choices, packaging flexibility, wider device availability, and on-demand viewing. Content creators use various business models, including subscription fees, advertisements, and streaming licenses, to monetize their offerings. OTT platforms are available on smart devices, including tablets, smart TVs, and gaming consoles, offering a rich media experience. OTT media includes high-definition (HD) and ultra-high-definition (UHD) content, personalization, data analytics, and recommendation algorithms. The OTT market generates significant revenue through subscription fees and advertisements. Broadcasters, film studios, and viewers/subscribers benefit from this new home entertainment landscape. OTT also includes podcast and audio streaming, with narrow type selections and packaging options. Social media marketing and 5G technology are driving growth in the developed countries. OTT applications extend to e-commerce, online services, OTT communication, and even gaming services. Data traffic is a concern, but higher internet speeds and provider-based solutions are addressing it. Overall, OTT offers a more personalized and convenient media consumption experience.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

Content TypeVideoText And ImagesVoIPMusic StreamingDeviceSmartphones And TabletLaptop And DesktopSmart TVGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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TESSAN Showcased New Charging Products at CES 2025, Enhancing Its Role in Modern Life and Travel

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LAS VEGAS, Jan. 11, 2025 /PRNewswire/ — At CES 2025, TESSAN showcased its relentless pursuit of technological innovation and enhanced user experience, engaging with a diverse audience to reinforce its commitment to being a dependable companion in users’ lives and travels. The event was a vibrant platform for interaction, where TESSAN not only presented its latest advancements but also connected with media, social influencers, and attendees through various engaging activities.

The exhibition garnered substantial media attention, with TESSAN being interviewed by various outlets. In acknowledgment of its innovative contributions, TESSAN received an award from SlashGear, a leading technology media platform known for its in-depth reviews and news on tech, cars, gaming, and science since 2005. The event’s excitement was further amplified by social media influencers, who explored the exhibition and shared their experiences with their followers, significantly enhancing the reach and impact of TESSAN’s innovations.

A highlight of the event was the interactive “What’s Your Next Journey?” activity, which invited attendees to participate for a chance to win an exclusive poster of the American singer-songwriter Rachael Yamagata, who recently partnered with TESSAN to inspire travelers.

Central to the exhibition were TESSAN’s latest products that underscored the brand’s commitment to innovation and user-centric design. The Travel Adapters, with its lightweight, compact, and multifunctional design, was a standout. Designed for global use, it caters to frequent travelers, ensuring seamless connectivity across different countries. The 140W Universal Travel Adapter, in particular, captured significant attention as an essential tool for global connectivity.

The Charging Station was another focal point, offering multi-device charging capabilities, rapid charging technology, and safety features. Suitable for both home and office environments, it meets the needs of users with multiple devices. The 100W Charging Station, a 9-in-1 powerhouse, exemplifies this by charging multiple gadgets simultaneously at lightning speed, appealing to busy individuals and tech enthusiasts alike.

Additionally, the Smart EV Charger demonstrated TESSAN’s commitment to sustainable and efficient solutions. Compatible with various electric vehicle models, it provides a convenient and eco-friendly charging option for EV users.

TESSAN’s diverse product range embodies the brand’s vision and core values, aiming to be a reliable companion in both daily life and travel. By prioritizing simplicity and convenience, TESSAN designs products that eliminate complexity and meet modern efficiency needs. Innovation is key, with advanced technologies like GaN (Gallium Nitride) enhancing performance and compatibility. Sustainability is also central to TESSAN’s mission, as demonstrated by eco-friendly practices and partnerships with ClimatePartner and One Tree Planted. Notably, TESSAN has launched an initiative to plant 10,000 trees across the U.S. and beyond, reinforcing its commitment to environmental sustainability and climate action.

Beyond product innovation, TESSAN enhances its impact through strategic collaborations. A notable partnership with globe-acclaimed photographer and adventurer Mattias Klum underscores the brand’s reliability. Additionally, TESSAN has teamed up with Rachael Yamagata to launch a global initiative aimed at uncovering travelers’ stories and inspiring exploration of the unknown.

As TESSAN continues to innovate and expand its product offerings, it remains dedicated to meeting the evolving needs of users worldwide. The brand invites everyone to join in its journey of exploration and discovery, promising more high-quality products that enhance connectivity and enrich lives.

About TESSAN

TESSAN, a trusted partner in charging solutions, is committed to enriching experiences both at home and during travel. The brand offers a wide array of products, including multifunctional power strips, travel adapters, wall extenders, and smart home devices. Supported by a robust R&D and production team, TESSAN develops innovative socket products for users across the globe. With the trust of over 20 million users, TESSAN empowers their journeys from home to every destination, promoting environmentally conscious electricity usage.

For more information, visit www.tessan.com or the TESSAN Amazon store, and follow TESSAN on Facebook, Instagram, and YouTube.

CONTACT: Derien Lin, derien@tessan.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/tessan-showcased-new-charging-products-at-ces-2025-enhancing-its-role-in-modern-life-and-travel-302347816.html

SOURCE TESSAN

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Docking Drawer to Revolutionize Appliance Garage Safety at KBIS 2025

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Docking Drawer, the leader in in-drawer outlet solutions, is set to showcase its newly configured Safety Interlock Outlets for appliance garages at the Kitchen & Bath Industry Show (KBIS) in Las Vegas this February 2025.

SAN RAMON, Calif., Jan. 11, 2025 /PRNewswire-PRWeb/ — Docking Drawer’s Unwavering Dedication to Safety

“At Docking Drawer, we’re not just creating products; we’re setting new standards for safety and functionality.”

When it comes to safety, no one in the industry matches the focus and innovation of Docking Drawer. Their Safety Interlock Outlets for appliance garages bring a unique, forward-thinking solution to an often-overlooked area in kitchen design. These safety outlets automatically de-energize an appliance garage power source when the cabinet door is closed, ensuring that appliances are safely powered off when contained inside the cabinet.

Docking Drawer is also the only company dedicated to creating in-cabinet electrical solutions that meet the strict code requirements of the Canadian marketplace. Their Safety Interlock Outlets are designed to make in-cabinet electricity compliant in Canada while offering consumers in all regions an additional layer of safety for in-cabinet power.

Advanced Limit Switch Technology

Docking Drawer’s Safety Interlock Outlets for appliance garages utilize an advanced Limit Switch system, designed to work seamlessly with power outlets concealed by a cabinet door. This intuitive feature detects when the cabinet door is closed, instantly cutting power to the connected outlet and all powered appliances.

Now Compatible with Any Appliance Garage Door

An updated Limit Switch feature now offers different switch options to accommodate all appliance garage door types, including traditional cabinet doors, pocket door setups, and more. The newly designed Limit Switch now offers two functions to choose from:

Power Off When Limit Switch is Depressed: This state is ideal for traditional cabinet doors, where closing the door depresses the switch to cut power safely.Power On When Limit Switch is Depressed: This state is perfect for pocket doors, where the door being pushed back upon opening activates the switch, turning the power on.

Customizable Connectivity

The flexibility of Docking Drawer’s solutions also allows for connecting multiple limit switches to a single safety outlet or vice versa, offering customization options to adapt to the unique demands of any project.

“At Docking Drawer, we’re not just creating products; we’re setting new standards for safety and functionality,” states Scott Dickey, founder of Docking Drawer. “Our Safety Interlock Outlets represent the culmination of our dedication to innovation and empowering homeowners and professionals with safer, more organized spaces—even beyond the kitchen and bathroom.”

Join Us at KBIS 2025

Don’t miss the opportunity to experience the future of kitchen safety. Visit Docking Drawer at KBIS 2025 in Las Vegas this February to see firsthand how their Safety Interlock Outlets are revolutionizing appliance garage safety.

About Docking Drawer:

Founded in 2014, Docking Drawer offers a full array of ETL Listed electrical solutions. From our core in-drawer outlets developed specifically for use inside the drawer to our family of safety interlock outlets which add peace of mind to in-cabinet electrical setups, our products are designed to create more organized, functional and safer spaces.

Media Contact

Paul Hostelley, Docking Drawer, 1 530-362-5055, paul@dockingdrawer.com, dockingdrawer.com

View original content:https://www.prweb.com/releases/docking-drawer-to-revolutionize-appliance-garage-safety-at-kbis-2025-302347293.html

SOURCE Docking Drawer

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More than 85 Governments to Gather in Riyadh to Lead Global Action on Minerals at Fourth Future Minerals Forum

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RIYADH, Saudi Arabia, Jan. 11, 2025 /PRNewswire/ — Over 85 governments from key mineral-producing and consumer nations, including 16 countries from the leading G20 economies, and 50 ministers and 13 vice ministers – have confirmed they will join the 2025 FMF Ministerial Roundtable on January 14, 2025.

The Ministerial Roundtable, a multi-stakeholder, government-led initiative, is the traditional opener of FMF, spurring international action to increase investment in mineral supply and build capacity in the Super Region of Africa, Western and Central Asia, and other supply regions. It is set to be the largest and most senior gathering of mineral resources officials in the world

Discussion will cover progress made over the past year on the three Ministerial Roundtable initiatives:

Development of an International Critical Minerals FrameworkEstablishment of Centers of Excellence to build capacity in sustainability (Morocco), talent development (South Africa), and technology innovation (Saudi Arabia).Advancements in Certification Systems to ensure responsible mineral sourcing.

His Excellency Khalid Al-Mudaifer, the Vice-Minister for Mining Affairs of Saudi Arabia’s Ministry of Industry and Mineral Resources, emphasizes that, “The meeting is an important step towards achieving sustainable development in the minerals sector globally. It is an ideal platform for delivering solutions, developing legislation on best practices in the field of sustainable mining, and exploring ways to invest in mining projects to achieve economic and social development in producing countries.”

Joining him are high-profile leaders, including ministers from supplier and financing like Brazil, South Africa, DRC, India, Egypt, Italy, Nigeria, Qatar, Pakistan, Kazakhstan, Uzbekistan, Malaysia, Thailand, Morocco, Indonesia, France, USA and the United Kingdom, discussing opportunities for global cooperation.

 “This year, discussions will seek to enhance collaboration between governments, industry, and communities to drive more investment in minerals, and development through value addition in supplier countries. We want to support the pressing need for sustainable mining practices, resilient supply chains, and value-driven partnerships in the minerals industry.”

Importantly, the outcomes of the Ministerial Roundtable are not confined to the event itself but form an ongoing, year-round program. Regional Coordination Groups will continue to drive the implementation of key initiatives.

“FMF is emerging as the largest global hub for minerals collaboration and action – no other platform brings together government ministers and senior industry leaders at this scale.” Al-Mudaifer concluded.

 

SOURCE Future Minerals Forum

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