How Is Expanding 5G Network Fueling OTT Service Demand?

All these services are offered via the subscription-based, transaction-based, and advertising-based models. In the coming years, the transaction-based model will be adopted at the highest rate as it enables service providers to generate revenue by selling the license of a software product to a single or multiple users.

Moreover, the increasing customer preference for purchasing whole content, such as full-license videogames with all the features, will fuel the shift toward transaction-based OTT platforms. Leading OTT service providers, such as Kakao Corp., The Walt Disney Company, Telstra Corporation Ltd., Roku Inc., Apple Inc., Netflix Inc., Facebook Inc., Amazon.com Inc., Rakuten Inc., and Google LLC (YouTube), are launching new platforms and services to reach out to a greater number of customers.

For example, in February 2021, Hulu introduced a free no-ad program with a 30-day trial period, to provide uninterrupted entertainment to users. After the completion of the trial period, users will have to pay a monthly charge of $11.99. Globally, North America led the OTT services market in the recent past due to the deep penetration of tablets, smartphones, TVs, and the internet in the region.

According to the World Bank, around 89% of the U.S. populace and 97% of the Canadian populace was an internet user in 2019. Moreover, the accelerating digitalization rate in North American countries owing to continuous technological advancements is adding to the popularity of OTT platforms here. Therefore, the surging use of smart devices and expanding 5G network infrastructure will fuel the adoption of OTT platforms in the upcoming years.

This market research report provides a comprehensive overview of the market

The Future potential of the market through its forecast for the period 2020– 2030
Major factors driving the market and their impact during the short, medium, and long terms
Market restraints and their impact during the short, medium, and long terms
Recent trends and evolving opportunities for the market participants
Historical and the present size of the market segments and understand their comparative future potential
Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings

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