Rise in popularity of direct carrier billing in the OTT market, advent of high internet speed, surge in penetration of smartphones and their compatibility with OTT application coupled with economical charges of OTT services have boosted the growth of the Indonesia OTT market. The Covid-19 pandemic had a positive impact on the market due to rise in demand for OTT service and growth in online communication services.
/EIN News/ — Portland, OR , June 20, 2022 (GLOBE NEWSWIRE) — As per the report published by Allied Market Research, Indonesia over the top market was pegged at $870.35 million in 2020, and is expected to reach $16.38 billion by 2030, growing at a CAGR of 31.3% from 2022 to 2031.
The rise in popularity of direct carrier billing in the OTT market, the advent of high internet speed, surge in penetration of smartphones and their compatibility with OTT applications coupled with economical charges of OTT services have boosted the growth of the Indonesia OTT market. However, piracy of digital streaming ecosystem and challenges in consumer engagement hinder the market growth. On the contrary, surge in focus to create local content, increase in subscriptions of OTT videos, and use of advanced technologies in OTT services would unlock new opportunities.
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- The Covid-19 pandemic positively impacted the market due to the rise in demand for OTT service and growth in online communication services.
- Due to lockdown restrictions, people used to spend more time at home, which increased the use of online platforms. Moreover, OTT platforms invested more in launching regional content.
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The report segments Indonesia over the top market on the basis of component, device type, content type, revenue model, user type, end-user, and region.
Based on components, the solution segment held the largest share in 2020, accounting for around two-thirds of the market. However, the services segment is expected to manifest the highest CAGR of 33.3% from 2022 to 2031.
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On the basis of device type, the smartphones segment dominated the market in terms of revenue in 2020, contributing to nearly two-fifths of the market. In addition, the segment is expected to register the highest CAGR of 33.2% during the forecast period. The report includes an analysis of other segments such as smart TVs, laptops, desktops, tablets, gaming consoles, set-top boxes, and others.
Based on end-user, the media & entertainment segment held the largest share in 2020, accounting for around one-third of the market. Furthermore, the segment would showcase the highest CAGR of 35.7% from 2022 to 2031.
Indonesia over the top industry includes an in-depth analysis of the prime market players such as Amazon Prime Video, CatchPlay, Iflix, Mola TV, PT. Media Nusantara Citra Tbk. (MNC Media), Netflix Indonesia, PT Telekomunikasi Selular (Telkomsel),, PT. Telekomunikasi Indonesia, Tbk, Vidio.com, and Viu.
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originally published at Science - Reality Syndicate Viewers