Indonesia Over-The-Top (OTT) Market Massive Growth Opportunity Ahead As Revealed In New Report

WILMINGTON, DE, UNITED STATES, July 11, 2024 /EINPresswire.com/ -- The Indonesia OTT market size was valued at $870.35 million in 2020, and is projected to reach at $16,386.82 million by 2031, growing at a CAGR of 31.3% from 2020 to 2031.”

Indonesia OTT market is expected to observe lucrative growth rate during the forecast period, owing rise in adoption of smartphones and internet, which has drastically changed the way content is delivered in Indonesia. In addition, video and audio content is currently streamed on smartphones and tablets, owing to ease of accessibility. In Indonesia, adoption of 4G network has increased with less challenges. Telecommunication operators of the country have deployed 4G networks in major cities, which further fuels demand for OTT services and augments growth of the market. Availability of strong 4G network, along with emerging 5G technology is anticipated to enable superior video experience with availability of large content libraries to users, which is projected to fuel adoption of over-the-top services in Indonesia.

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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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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.

Some of the key Indonesia OTT industry players profiled in the report include 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, and Viu. This study includes Indonesia OTT market trends, Indonesia OTT Market analysis, and future estimations to determine the imminent investment pockets.

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