Key regions: United Kingdom, Germany, South Korea, Asia, India
The OTT Video market in United States is experiencing significant growth and development, driven by changing customer preferences and the rise of digital streaming platforms.
Customer preferences: Customers in the United States are increasingly favoring on-demand video streaming services over traditional cable and satellite TV. This shift in preference is driven by several factors, including the convenience and flexibility of streaming services, the wide variety of content available, and the ability to personalize viewing experiences. Additionally, the younger generation is more inclined towards digital platforms, as they are more tech-savvy and have grown up in a digital era.
Trends in the market: One of the key trends in the OTT Video market in the United States is the increasing competition among streaming service providers. Major players such as Netflix, Amazon Prime Video, and Hulu are constantly investing in content creation and acquisition to attract and retain subscribers. This has led to a proliferation of original content, including TV shows, movies, and documentaries, which has further fueled the growth of the market. Moreover, the entry of new players like Disney+ and Apple TV+ has intensified the competition and expanded the options available to consumers. Another trend in the market is the growing popularity of live streaming services. With the rise of social media platforms like Facebook, Instagram, and YouTube, live streaming has become a popular way for individuals and organizations to share real-time content with their audience. This trend has also extended to the OTT Video market, with platforms like Twitch and Periscope gaining popularity among gamers, influencers, and content creators.
Local special circumstances: The United States has a highly developed digital infrastructure, with widespread access to high-speed internet and advanced mobile networks. This has facilitated the growth of the OTT Video market, as consumers can easily stream content on their smartphones, tablets, and smart TVs. Additionally, the United States has a large and diverse population, which provides a vast market for streaming service providers to target.
Underlying macroeconomic factors: The strong economy and high disposable income levels in the United States have contributed to the growth of the OTT Video market. Consumers are willing to spend on subscription services and are increasingly cutting the cord with traditional cable and satellite TV providers. Furthermore, advancements in technology and the increasing affordability of smart devices have made streaming services more accessible to a wider audience. In conclusion, the OTT Video market in the United States is witnessing significant growth and development, driven by changing customer preferences, intense competition among streaming service providers, and the availability of high-speed internet and advanced mobile networks. The market is expected to continue to expand as more consumers embrace digital streaming platforms and as new players enter the market.
Data coverage:
The data encompasses B2C enterprises. Figures are based on Traditional TV & Home Video and OTT (over-the-top) Services. All monetary figures refer to consumer spending on digital goods or subscriptions in the respective market. This spending factors in discounts, margins, and taxes.Modeling approach / market size:
The market size is determined through a bottom-up approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP, number of internet users, and internet consumption.Forecasts:
We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.Additional notes:
The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Consumer Insights data is reweighted for representativeness.
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