Key regions: United Kingdom, Germany, Asia, South Korea, Japan
The OTT Video market in Thailand is experiencing significant growth, driven by changing customer preferences and local special circumstances.
Customer preferences: Thai consumers are increasingly turning to OTT video platforms for their entertainment needs. This shift in consumer behavior can be attributed to several factors. Firstly, the convenience of on-demand streaming allows viewers to watch their favorite shows and movies at their own pace, without the need to adhere to traditional broadcast schedules. Secondly, the wide variety of content available on OTT platforms caters to diverse tastes and interests, appealing to a broad range of viewers. Finally, the affordability of OTT subscriptions compared to traditional cable or satellite TV packages is an attractive proposition for cost-conscious consumers.
Trends in the market: One of the key trends in the Thai OTT Video market is the rise of local content. Thai viewers have shown a strong preference for content that reflects their own culture and language. As a result, local production houses and content creators are investing in creating original Thai content for OTT platforms. This trend not only caters to the preferences of Thai viewers but also helps to differentiate OTT platforms from their competitors. Another trend in the market is the increasing popularity of mobile viewing. Thailand has one of the highest smartphone penetration rates in Southeast Asia, and this has led to a surge in mobile video consumption. OTT platforms have responded to this trend by optimizing their apps for mobile devices and offering features such as offline viewing to enhance the mobile viewing experience.
Local special circumstances: The Thai OTT Video market is also influenced by local special circumstances. One such circumstance is the high level of internet penetration in Thailand. With a large portion of the population having access to reliable internet connections, OTT platforms can reach a wide audience across the country. Additionally, the Thai government has implemented policies to promote digital infrastructure development, further supporting the growth of the OTT Video market.
Underlying macroeconomic factors: Several underlying macroeconomic factors contribute to the development of the OTT Video market in Thailand. The country's growing middle class has higher disposable incomes, allowing them to spend more on entertainment services such as OTT subscriptions. Furthermore, the increasing urbanization in Thailand has led to a greater demand for digital entertainment options, as urban dwellers seek convenient and flexible ways to consume media. In conclusion, the OTT Video market in Thailand is witnessing significant growth due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. The rise of local content and the popularity of mobile viewing are key trends shaping the market. With the continued expansion of internet infrastructure and the increasing affordability of OTT subscriptions, the market is poised for further growth in the coming years.
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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