According to a new market research report by Credence Research, the global over-the-top (OTT) market is estimated to grow by 14.4% CAGR from 2016 to 2023. The OTT market was valued at $28.75 Billion in 2015 and is expected to reach above $65 Billion by 2023.
The study is backed by how OTT content has transformed traditional services such as calls to Skype, Messaging to WhatsApp & Facebook Messenger and Video Viewing to Netflix, YouTube. Stats showing growth of internet users from 16% in 2005 to 40% in 2015 are evident enough to back the forecasts.
Read the entire report here.