OTT services are delivered over the Internet; however, they do not have any involvement in the planning or provisioning of services. These services have derived the name ÃÂ¢Ã¢âÂ¬ÃÅover the topÃÂ¢Ã¢âÂ¬Ã¢âÂ¢ services, as they are directly offered to consumers ÃÂ¢Ã¢âÂ¬ÃÅover the topÃÂ¢Ã¢âÂ¬Ã¢âÂ¢ of Internet service providerÃÂ¢Ã¢âÂ¬Ã¢âÂ¢s network. Demand for OTT services is poised to rise exponentially in the next few years due to the proliferation of smartphones and their compatibility with OTT applications. OTT monetization is the process of transforming large unstructured volume of enterprise data gathered through OTT services into valuable insights for drawing economic value or exchange of service. Data monetization is the use of data assets for generating value to an organization.
Rise in popularity of social networks and increase in adoption of high speed broadband have benefited mobile network operators. This is driving the OTT monetization market. Mobile network operators are investing in and adopting OTT monetization to generate revenue through creation of apps and B2B services via accommodated solutions and pay-as-you-grow cost solutions.
The OTT monetization market witnesses immense growth opportunities from providing simpler solutions to enterprise consumers and users. Small and medium businesses and organizations possess various growth opportunities in the market. These include integrated communication, mobile content administration, and video services. Data monetization is primarily used by enterprises or companies, especially in IT & telecom and BFSI industries, due to the availability of large database and increasing focus of telecom and BFSI companies to generate revenue by selling their data. Currently, mobile carriers are more focused on indirect data monetization for internal analysis. At the same time, operators are also attaining direct data monetization by selling demographic data and transactional data. There are many challenges facing the OTT monetization market, owing to the increase in competition from over the top (OTT) players that offer Internet based services. Lack of awareness among organizations about deployment and usage of these services are anticipated to hamper the market in the near future.
The OTT monetization market can be segmented based on business model, application, and end-use vertical. In terms of business model, the OTT monetization market can be divided into premium and subscriptions, adware, and ecommerce. Based on application, the market can be classified into communication, e-services, media content, and cloud services. The media content segment can be further classified into audio/video, gaming, and web content. In terms of end-use vertical, the market can be bifurcated into personal and commercial. The commercial segment can be further sub-segmented into health care, IT, ecommerce, education, media and entertainment, and others (including manufacturing, energy, and transportation).
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In terms of region, the global OTT monetization market can be segregated into North America, South America, Europe, Asia Pacific, and Middle East & Africa. North America is anticipated to hold prominent share of the global OTT monetization market during the forecast period primarily due to the presence of many global players in the region, especially in the U.S. and Canada. Europe is also likely to account for significant share of the market. This trend can be ascribed to the increase in focus on innovation through research and development activities and advancement in IT technologies in developed countries in the region. Asia Pacific is expected to emerge as the fastest growing region of the market during the forecast period. Rise in adoption of cloud platforms by businesses and increase in adherence to regulatory compliances are some of the factors driving the OTT monetization market in Asia Pacific.
Currently, a few well established players have deeply penetrated the OTT monetization market by introducing new competitive products and services. These companies are strengthening their position through mergers & acquisitions and constant investments in research and development (R&D) activities to come up with solutions that cater to the changing requirements of consumers. Furthermore, vendors are planning to invest in artificial intelligence, big data analytics, and advanced machine learning in order to provide cost competitive and technologically advanced products in the market.
Leading players operating in the OTT monetization market include Amazon Inc., Twitter Inc., Netflix, Inc., Facebook, Inc., Dropbox, Inc., Google, Inc., LinkedIn Corporation, Skype (Microsoft Corporation), Apple, Inc., Evernote Corporation, Hulu, LLC., and Rakuten, Inc.
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