WILMINGTON, DE, UNITED STATES, November 22, 2023 /
EINPresswire.com/ -- According to a recent report published by Allied Market Research, titled, "
Indonesia OTT Market by Component, Device Type, Content Type, Revenue Model, User Type, and Industry Vertical: Opportunity Analysis and Industry Forecast, 2022-2031,"
The Indonesia OTT market share was valued at $870.35 million in 2020, and is projected to reach $16,386.82 million by 2031, registering a CAGR of 31.3% from 2022 to 2031.
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In the current scenario, over the top service providers extensively offer their services through mobile apps to assist customers by providing an easy and convenient shopping experience, online gaming, online payment, and banking. Rise in adoption of smartphones and electronic devices is a major factor that propels growth of the over-the-top market.
In addition, factors such as surge in income of customers, availability of low-cost smartphones, availability of high speed & cost-effective internet, rise in number of netizens, and rise in investments in communication network infrastructure considerably contribute toward growth of the Indonesia over the top market.
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Competitive Analysis:
The competitive environment of Indonesia OTT Market Industry is further examined in the report. It includes details about the key players in the market's strengths, product portfolio, Indonesia OTT Market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.
Key Players:
Amazon Prime Video
CatchPlay
Iflix
Mola TV
PT. Media Nusantara Citra Tbk. (MNC Media)
Netflix Indonesia
PT Telekomunikasi Selular (Telkomsel)
PT. Telekomunikasi Indonesia
Tbk (Telkom Indonesia)
Vidio.com
Viu and Many More
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Various industries around Indonesia are severely affected by the COVID-19 induced recession; however, impact on the technology sector during the crisis was comparatively lesser than the rest of the sectors. Lockdowns have encouraged proliferation of OTT subscription businesses such as streaming services, digital media, e-learning, and communication software. OTT subscriptions have observed a surge during the pandemic, in terms of both time spent as well as newer audiences. Owing to this growing popularity of OTT platforms, various streaming service providers are observing growth in their subscriptions as well as revenues. COVID-19 has accelerated OTT adoption.
More than half (57 %) of OTT users say they are streaming more OTT content during the pandemic. These habits are expected to continue even after COVID-19 with 73% planning to maintain or increase OTT consumption after the pandemic ends. For instance, Netflix reached about 15.8 million paid subscribers from January to March 2020 amid the coronavirus pandemic and it has made a profit of around $709 million on revenue of $5.8 billion during that period.
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