NEXWAVE DIGITAL
NEXWAVE DIGITAL
Challenges of OTT Services Going Global
Consistent Cloud Infrastructure
For businesses aiming for global reach, it is crucial to implement reliable cloud infrastructures that cater to diverse network conditions and the requirements of growing international markets. This ensures seamless access to services, enhances user experiences, and supports scalability as demands evolve.
Ensuring Data Protection
In over 80% of countries worldwide, stringent data privacy regulations are in place, making it imperative for businesses to implement comprehensive data security protocols. Adopting advanced encryption techniques and regular audits will further enhance compliance and build consumer trust.
Tailored Marketing Strategies
Integrating localized approaches into all facets of business growth and marketing is crucial for organizations. This ensures resonance with diverse audiences, enhancing engagement and brand loyalty. By leveraging cultural insights and preferences, businesses can create more impactful campaigns that drive conversions and foster long-term relationships with customers.
Management and support of IT systems
A lack of qualified IT experts can significantly impede the progress of global initiatives. Therefore, investing in skilled personnel is essential for success. Furthermore, fostering a culture of continuous learning and development will ensure that teams remain adaptable and innovative in the face of evolving technological challenges.
Global Growth Overview:
The Global OTT TV and Video Market Forecasts Report (2023-2029) projects that OTT TV and video revenues will rise from $162 billion in 2023 to $215 billion by 2029, representing a 33% growth. The U.S. remains the largest market but will see its share decline from 46% in 2023 to 38% by 2029, with revenues reaching $82 billion. Subscription Video on Demand (SVOD) will continue to be the leading revenue source, expected to grow by $19 billion to reach $127 billion by 2029.
Meanwhile, Advertising-based Video on Demand (AVOD) is predicted to grow faster than SVOD, reaching $69 billion by 2029, up from $39 billion in 2023. However, the growth of AVOD is slowing due to a global advertising downturn and slower-than-expected rollouts of hybrid platforms. The report provides a comprehensive overview of the market, covering 138 countries and offering detailed forecasts through 2029.
