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Global OTT Services Market Generated $91,881.6 Million Revenue in 2020: P&S Intelligence Report

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Global OTT Services Market Generated ,881.6 Million Revenue in 2020: P&S Intelligence Report

The surging penetration of the internet and smart devices, increasing average internet speeds, and soaring use of video on demand (VoD) services are the major factors fueling the expansion of the global over-the-top (OTT) services market. The market generated revenue of $91,881.6 million in 2020 and is predicted to surge sharply during 2021–2030, according to P&S Intelligence.

The COVID-19 pandemic has positively impacted the growth of the OTT services market. The announcement of multiple lockdowns and stringent social distancing protocols has brought the cinema and theatre industry to a halt. This was because cinema halls and theatres all over the word were shut down because of the lockdowns, thereby halting the release of movies. Similarly, many major sports events were postponed, canceled, or were organized behind closed doors, which caused a sharp fall in revenue generation. However, the OTT platforms benefited from these measures, as they were able to show sporting events and movies under the pay-per-view model. Further, the lockdowns gave people time to consume online content and thus, the viewership rates of major streaming platforms increased massively during the pandemic.

The OTT services market is divided into music streaming, online gaming, and VoD communication, depending on type. Out of these, the online gaming category is expected to dominate the market during the forecast period. Internet connected gaming consoles such as Xbox One, Wii U, and Sony PlayStation 4, enable online gaming. Furthermore, these games are usually very expensive, which massively contributes to the high revenue generation of the online gaming category in the market.

The surging use of tablets and smartphones and the increasing internet penetration are the main factors propelling the expansion of the smartphones and tablets category, under the streaming device segment of the OTT services market. For instance, as per the World Bank data, the share of internet users in the global population grew from 34.2% in 2012 to 51.1% in 2019. Further, the usage convenience offered by these products and their portability and their ability to allow users to download and stream high-quality content as per their choice are also driving the growth of this category in the market.

Globally, North America held the largest share in the OTT services market in 2020. This is ascribed to the fact that the people in this region extensively avail OTT services and consume content provided by OTT platforms, on account of their high disposable income. Additionally, the high penetration of the internet is also fueling the popularity of OTT services in the region.

During the forecast period, the Asia-Pacific (APAC) region is predicted to be the fastest-growing market for OTT services. This is attributed to the presence of a large population, growing smartphone user base, and surging internet penetration in the developing countries such as China and India.

The players operating in the OTT services market are focusing on mergers and acquisitions and service launches for bolstering their position in the industry. For example, The Walt Disney Company completed the acquisition of the Indian OTT giant Hotstar in July 2020 and renamed it to Disney + Hotstar. This acquisition took nearly one year to materialize and The Walt Disney Company predicts to compete with various regional video streaming platforms such as Amazon Prime Video and Netflix.

Likewise, telecom operator Jio announced in July 2020 that it will introduce 12 OTT apps, such as Amazon Prime, Voot, Disney + Hotstar, SonyLiv, Netflix, Zee5, YouTube, JioSaavn, and JioCinema under its application Jio TV+, which will make these services available on a single platform that can be viewed on TVs.

Some of the major OTT services market players are Roku Inc., Netflix Inc., Amazon.com Inc., Apple Inc., The Walt Disney Company, Facebook Inc., Google LLC (YouTube), Kakao Corp, Rakuten Inc., and Telstra Corporation Ltd.

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Electric Vehicle (EV) Market Size to Reach USD 917.70 Billion in 2028, Says Reports and Data

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Electric Vehicle (EV) Market Size to Reach USD 917.70 Billion in 2028, Says Reports and Data

The global Electric Vehicle (EV) market size is expected to reach USD 917.70 Billion in 2028 and register a revenue CAGR of 20.6% over the forecast period, according to a latest report by Reports and Data. Supportive government policies and regulations, rising environmental concerns, decreasing prices of batteries, and advancements in charging technologies are some key factors expected to drive market revenue growth. Technological advancements have brought down overall cost of Electric Vehicles (EVs) and various battery producers are specializing in offering excessive-capacity batteries and lowering battery prices to develop cost-efficient and high performance electric mobility.

Governments are investing in charging infrastructures both through direct investments for public charging stations or by offering subsidies for private charging stations at houses and workplaces. In addition, offering attractive incentives and policies such as subsidy, lower registration fees, and free EV charging infrastructure at most charging stations to promote sales of EVs are factors expected to support market growth. Besides, exemption of road tax, purchase tax, and import duties, depending on the different subsidies, are encouraging automobile producers to increase EV production.

Automotive manufacturers are responding well to the ever-changing market trends. Manufacturing and capacity at a number EV production plants is expected to increase owing to presence of supportive government policies. Utilities and power companies are also increasing investment in development of EV charging infrastructure, which further supports market growth.

Some Key Highlights From the Report

  • Commercial vehicle segment revenue is expected to register significantly steady growth rate over the forecast period. Governments in countries around the world are focusing on electrification of commercial vehicles to reduce greenhouse gas emissions, which is expected to positively impact market revenue growth.
  • Plug-In Hybrid Electric Vehicle (PHEV) segment revenue is expected to expand significantly over the forecast period. PHEVs can be recharged from domestic electric power sources, use roughly 30–40 percent of petroleum compared to other ICE vehicles, and carbon emissions are substantially lower than regular vehicles.
  • The Electric Vehicle (EV) market in Asia Pacific is expected to register robust revenue CAGR over the forecast period. Rising disposable income, increasing air pollution rate in countries such as China, and India, and technological advancements in charging infrastructure are key factors expected to drive demand for EVs in this region. Also, rising investment in R&D by market players to develop and introduce more innovative electric charging technologies is expected to drive market growth.
  • Companies in global market report include Bayerische Motoren Werke Aktiengesellschaft, BYD Company Limited, Daimler AG, Energica Motor Company S.p.A, Ford Motor Company, General Motors Company, Nissan Motor Co., Ltd, Tesla, Inc., Toyota Motor Corporation, and Volkswagen AG.
  • In March 2021, Volvo announced the launch of its new C40 Rechargeable model. According to company, the vehicle is primarily designed as an electric car and its features are the same as the XC60 model.

For the purpose of this report, Reports and Data has segmented the Electric Vehicle (EV) market based on vehicle type, battery type, propulsion, and region:

  • Vehicle Type Outlook (Revenue, USD Billion; 2018-2028)
    • Passenger Cars
    • Commercial Vehicles
    • Two-wheelers
  • Battery Type Outlook (Revenue, USD Billion; 2018-2028)
    • Lithium-Ion
    • Lead-Acid
    • Nickel-Metal Hydride
    • Sodium-Ion
    • Others
  • Propulsion Outlook (Revenue, USD Billion; 2018-2028)
    • Battery Electric Vehicle (BEV)
    • Plug-In Hybrid Electric Vehicle (PHEV)
    • Hybrid Electric Vehicle (HEV)
  • Regional Outlook (Revenue, USD Billion; 2018-2028)
    • North America
      • U.S.
      • Canada
      • Mexico
    • Europe
      • Germany
      • UK
      • France
      • Italy
      • Spain
      • Sweden
      • BENELUX
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • South Korea
      • Rest of APAC
    • Latin America
      • Brazil
      • Rest of LATAM
    • MEA
      • Saudi Arabia
      • UAE
      • South Africa
      • Israel
      • Rest of MEA

Similar Research reports by Reports and Data of Automotive and Transportation Industry:

The global car battery market size is expected to reach USD 92.60 Billion in 2028 and register a CAGR of 5.2% during the forecast period. Increasing demand for pollution-free hybrid and Electric Vehicles (EVs), reduction in crude oil reserves, drop in battery prices, and increasing environmental concerns are some of the key factors driving market revenue growth.

The global mountain bike market size was USD 3.51 Billion in 2020 and is expected to register a revenue CAGR of 5.3% during the forecast period. Major factors driving market revenue growth are rising focus on development of more durable and sturdy bikes, increasing popularity of bike sports for recreational as well as for competitive purposes, and rising awareness regarding personal health and fitness.

The global Automotive Hydrogen Sensors market is forecasted to grow at a rate of 3.8% from USD 133.8 million in 2019 to USD 176.9 million in 2027. The automotive hydrogen sensors are growing due to a surge in the commercial market. The sensors are used in various certifying bodies to check the level of emissions or to check the leakage in the vehicles.

The automotive head-up display market is projected to grow at a rate of 27.4% in terms of value, from USD 1,389.7 Million in 2019 to reach USD 9,881.1 Million by 2027.  The market for automotive head-up display (HUD) is experiencing high demand attributed to factors such as rising incidences of road accidents, growing cognizance about vehicle and passenger safety, rising demand for autonomous vehicles, growing demand for advanced 3D AR head-up display, and growing investment on luxury cars, among others.

The global Automotive Center Console market is forecasted to grow at a rate of 3.8% from USD 37.94 billion in 2019 to USD 50.15 billion in 2027. An increase in the demand for automobiles and the development of by-wire technology is expected to drive the demand for the industry in the coming years.

About Reports and Data

RND is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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Metaverse Game "DeHorizon" Closes $8.5M Pre-A Round Led By Sfermion, Dragonfly Capital and Everest Ventures Group

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Metaverse Game "DeHorizon" Closes .5M Pre-A Round Led By Sfermion, Dragonfly Capital and Everest Ventures Group

DeHorizon Foundation, the team behind DeHorizon, today announced that DeHorizon has completed an $8.5 million Pre-A round led by Sfermion, Dragonfly Capital and Everest Ventures Group for upcoming blockchain-based MMO/RPG DeVerse. The new funding will help them to accelerate DeVerse’s development and grow the team.

“GameFi presents an opportunity to bring the next billion users into the crypto economy,” said Bo Feng, managing partner at Dragonfly Capital. “We are excited to back DeHorizon to drive GameFi adoption across the world.”

DeHorizon Foundation is dedicated to creating DeHorizon a community-powered Game Metaverse, making “Play for fun and to Earn” come into reality. Complying with the principle of empowering all players to control their own assets, privacy information, and power of governance, DeHorizon Metaverse will be managed by the decentralized autonomous community, which is DAO. That is the future of DeHorizon Metaverse players are heading to.

DeVerse is the first blockchain-based MMO/RPG on DeHorizon, a barbarous version of high fantasy action-adventure game. In DeVerse, players will explore the open world of epic battles, minting NFT monsters, mining resources, embarking on heroic quests, taming wild creatures, and much more.

Recently, DeHorizon launched the first-ever interoperable, editable and evolvable ERC-721 NFT “DeMeta Pass ID”(DeMeta) to solve the problem of NFTs’ connection and further development. Building up the interopability of NFTs may be an important catalyst to contribute Metaverse forward to open, connection networks. Within less than 30 minutes, their first batch of ERC-721 DeMeta NFT were immediately claimed out. An advancing NFT experiment has been witnessed, freely open to everyone.

The Pre-A round was led by Sfermion, Dragonfly Capital and Everest Ventures Group with Animoca Brands, Yield Guild Games, Mechanism Capital, Gumi Cryptos Capital, Infinity Venture Crypto, Akatsuki Inc, BitScale, Republic Realm, Youbi Capital, Bybit, The Lao, LD Capital, Momentum 6, Dialectic, Stable Node, Kardia Ventures, Tess Ventures, Meteorite Labs, Taureon, Ruby Capital, Jsquare, Zonff Partners, Pluto Capital, WaYi, Formless Capital, Crasolum, Lucid Blue Ventures, Puzzle Ventures, Maeve Ventures, Blockdream Ventures.

They have backed the Silicon Valley startup with $8.5 million. This round represents an investment in DeHorizon Metaverse and its flagship blockchain game “DeVerse”. Their Angel round was supported by Bo Feng, Darren Lau, Santigo Santos, Miss Bitcoin, MASA.

Currently, one secret project designed by community is said to launch on DeHorizon Metaverse later. In the future, DeHorizon will develop and incubate more various blockchain-based games and make more partnerships with great artists, award-winning celebrities and much more to make their Metaverse come to life.

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Locus Robotics Opens European Headquarters in Amsterdam

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Locus Robotics Opens European Headquarters in Amsterdam

Locus Robotics, the leader in autonomous mobile robots (AMR) for fulfillment warehouses and distribution centers, today announced the opening of its European headquarters in Amsterdam. The new facility will support Locus’s existing EU and UK customer base and develop new opportunities within the fast-growing European warehouse fulfillment and distribution segments.

“Our decision to expand our presence in the European market was a logical step in our business growth strategy,” said Rick Faulk, CEO of Locus Robotics. “Choosing Amsterdam gives us a central location that is ideal for serving our customer base, as well as giving us access to a vibrant and diverse talent pool to recruit from.” 

With warehouse fulfillment volumes increasing globally, access to labor has become a critical issue. Companies are turning to automation to meet the exploding demands while keeping labor recruiting, training, and retention costs down. In fact, Locus recently passed the half-billion picking milestone and LocusBots are now picking nearly 2 million items every day.

“Our Amsterdam office will allow us the flexibility to support our European clients in real time as the needs of order fulfillment continue to grow around the continent,” said Denis Niezgoda, Vice President, Europe. “We are ideally positioned to scale and support the growing demand.”

The new location will also assemble and service the company’s award-winning autonomous mobile robot solution for the European market, providing faster deployment, management, and support services.

Locus Robotics will be celebrating the office opening with a press event at the new location, located at Toetsenbordweg 26, 1033 MZ Amsterdam, Netherlands on Wednesday October 6th. The event will include guided tours of the new facility and access to Locus senior management. Locus will also be exhibiting at Deliver, an e-commerce and logistics trade show being held on 6-7 October in Amsterdam. This event brings together key industry thought leaders and brands, and features speakers from Locus in breakout sessions and panel presentations.

About Locus Robotics

Locus Robotics’ revolutionary, multi-bot solution incorporates powerful and intelligent autonomous mobile robots that operate collaboratively with human workers to dramatically improve piece-handling productivity 2 – 3x, with less labor compared to traditional piece handling systems. This award-winning solution helps retailers, 3PLs, and specialty warehouses efficiently meet and exceed the increasingly complex and demanding requirements of fulfillment environments, easily integrating into existing warehouse infrastructures without disrupting workflows, instantly transforming productivity without transforming the warehouse. In 2021 Locus Robotics made the list of Inc. 500, ranking number 428.

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