Over The Top Services Market Size, Share, Growth, Trends, and Global Industry Analysis: OTT Service (Online Services, Managed Services), By Type (OTT Communication services, OTT Media services, OTT Applications services), By Platform (Smartphones, Smart TVs, Laptops Desktops & Tablets, Others) and Region Forecast 2020-2031

Over The Top Services Market size was valued at US$ 69.48 billion in 2024 and is expected to reach US$ 196.38 billion by 2031, growing at a significant CAGR of 16.0% from 2025-2031. The market is the distribution of video, audio, and other media content directly to end-consumers over the internet, without the involvement of conventional cable, satellite, or broadcast companies.

The market is fueled by growing internet penetration, technological developments in streaming, and changing consumer behavior towards the consumption of digital content. Growing demand has also been supported by the increase in smart devices and low-cost data plans, while enhanced user engagement comes from content personalization and artificial intelligence (AI)-based recommendations. The increased use of cloud-based streaming platforms and increased 5G network coverage are also driving better quality and accessibility of streaming.

Content acquisition costs are high due to stiff competition among streaming services, while data privacy issues and regulatory complications pose major constraints in the market. The content fragmentation across several platforms has resulted in consumer dismay because consumers need to subscribe to various services to view their desired content. Moreover, digital piracy and cybersecurity risks threaten content providers and consumers.

Facts & Figures

• 48% of OTT users consume content daily, and 30% use it several times a week.
• In 2023, viewing of TV content on streaming platforms accounted for 38% of global television consumption, with 1.8 billion subscriptions to OTT platforms.
• 45% more people are watching OTT services in quarter 1 of 2021 compared to the previous year.

Key Developments:

• In October 2023, Prasar Bharati accelerated the process of evolving an over-the-top (OTT) platform to provide a range of services in partnership with the other prominent players in the market.
• In December 2022, Netflix partnered with Nike Training Club to provide fitness and workout programming to the OTT platform. This collaboration between Nike Training Club and Netflix helps to deliver fitness content through a video streaming platform.
• In November 2022, AMC Networks and Roku announced an expanded partnership to feature AMC Networks’ high-quality content and targeted streaming services across The Roku Channel’s broad and growing ecosystem. The agreement included the addition of 11 free ad-supported streaming (FAST) channels created and programmed by AMC Networks to The Roku Channel, including an exclusive channel, AMC Showcase, which would feature many of AMC’s signature dramas, including Mad Men.
• In June 2022, Amazon partnered with American entertainment company AMC Networks to offer its content on Amazon Prime Video channels in India. As part of the partnership, Amazon Prime Video would offer ad-free subscription service AMC+ and AMC’s streaming service Acorn TV on Prime Video channels in India on a subscription basis.

Over the Top Services Market Segmentation:

Based on the OTT service:

• Online Services
• Managed Services

The managed services refer to a service network, where service providers have major control over the network capacity to provide services, whereas online service depends on the public internet for the delivery of content. The managed services segment is likely to witness steady growth in the upcoming years owing to the availability of high-speed internet and the proliferation of electronic devices.

Based on the type:

• OTT Communication services
• OTT Media services
• OTT Application Services

The OTT media services segment is expected to dominate in terms of share with a remarkable growth during the forecast period. The growing number of platforms offering live-streaming such as concerts, sports, online gaming, and music streaming, among others, along with the video-on-demand services, is likely to fuel the demand for media services. The prominent presence of video service providers such as Netflix, Amazon, Apple, Disney+, and HBO Max, among others, is expected to boost the market opportunities. For instance, by January 2020, key providers Netflix and Amazon Prime Video registered 158.3 million and 101 million subscribers globally. This is expected to surge the demand for Over the Top media services in the future.

Based on the platform:

• Smartphones
• Smart TVs
• Laptops, Desktops, and Tablets
• Others (Gaming Consoles)

The smartphone segment is expected to dominate the market owing to the increasing 5G capabilities and new launches of smartphones. As per the GSMA Mobile Economy Report, smartphones registered 65% of adoption in 2019 globally. This is likely to drive the demand for these services. Similarly, the increasing adoption of laptops and tablets for accessing online content is anticipated to boost this segment’s share. Also, various services providers are offering direct streaming on laptops and tablets, which, in turn, is driving its demand in the market.