Key regions: United Kingdom, Germany, Asia, South Korea, Japan
The OTT Video market in Western Asia is experiencing significant growth and development, driven by changing customer preferences, emerging trends, and local special circumstances. Customer preferences in Western Asia are shifting towards on-demand video streaming services, as consumers increasingly seek convenience and flexibility in their entertainment options.
With the rise of smartphones and high-speed internet connectivity, viewers are turning to OTT platforms to access a wide range of content anytime, anywhere. This shift in preferences is fueled by a growing appetite for international content, including popular TV shows and movies from around the world. Trends in the OTT Video market in Western Asia include the emergence of local and regional streaming platforms catering to the specific needs and tastes of the audience.
These platforms not only offer a diverse selection of content but also provide localized user interfaces, subtitles, and dubbing options. Additionally, there is a growing trend of original content production by both global and regional streaming services, as they aim to capture the attention of the local audience with culturally relevant and relatable content. Local special circumstances play a crucial role in the development of the OTT Video market in Western Asia.
One such circumstance is the increasing availability and affordability of high-speed internet connectivity, which is essential for seamless video streaming. Governments and telecommunication companies in the region are investing in infrastructure development to ensure widespread access to the internet, enabling more people to enjoy OTT video services. Furthermore, the region's large youth population, which is tech-savvy and digitally connected, is a key driver of the OTT Video market.
Underlying macroeconomic factors also contribute to the growth of the OTT Video market in Western Asia. The region's strong economic growth, rising disposable incomes, and increasing urbanization are creating a favorable environment for the adoption of OTT video services. As more people have access to smartphones and smart TVs, the demand for streaming platforms is expected to continue growing.
Moreover, the COVID-19 pandemic has further accelerated the adoption of OTT video services, as people spend more time at home and seek entertainment options online. In conclusion, the OTT Video market in Western Asia is witnessing rapid growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. As the market continues to evolve, it presents significant opportunities for both global and regional streaming platforms to cater to the diverse needs and preferences of the audience in the region.
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 segment. This spending factors in discounts, margins, and taxes.Modeling approach / Segment size:
The segment 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 segment 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 segment. 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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