Middle East & Africa OTT Platform Market is expecting a momentous growth rate during the forecast period, i.e., 2022-27, cites MarkNtel Advisors in its recent report. The Middle East and Africa region is expected to witness a surge in market traction due to the dual forces of escalating internet penetration and a growing consumer preference for OTT entertainment platforms.
Middle East & Africa OTT Platform Market Analysis
This convergence is anticipated to shape the market landscape during the forecast period. The market is set to be propelled by swift technological progressions, including innovations such as voice control, enhanced visual fidelity, diverse streaming channels, and more, within smart devices. These advancements are anticipated to substantiate the demand for OTT platforms, effectively steering the market’s trajectory well into 2027.
The report underscores the importance of recognizing the market’s fragmentation and leveraging the insights gained from diverse segments and regions. These insights empower stakeholders to make informed decisions, drive strategic growth, and navigate the complex keyword market effectively.
- By Type: Video on Demand, Online Gaming, Music Streaming, and Communication
- By Monetization Model: Advertising-Based, Subscription-Based, and Transaction-Based
- By Service Vertical: Education & Learning, Media & Entertainment, and Gaming
- By Content Form: Arabic, and Foreign
- By Streaming Devices: Desktops & Laptops, Smartphones & Tablets, Internet Protocol Television, Others (Gaming Consoles, etc.)
- By Countries: UAE, Saudi Arabia, Qatar, Bahrain, Oman, Kuwait, Egypt, South Africa
- By Companies: Telly, Amazon, Netflix, StarzPlay, Apple TV+, beIN Connect, Turkcell, Wavo, Vimeo, Shahid Plus
Video On Demand (VOD) Is Expected to Dominate the Middle East and Africa Market Future
This surge in connectivity is driving the demand for OTT platforms that offer video-on-demand content for entertainment purposes. The rollout of 5G networks in densely populated nations is expected to attract a larger customer base for video-on-demand services in the forthcoming years. As a result, the surging demand for OTT platforms centered around ‘Video on Demand’ offerings is set to propel the overall market growth between 2022 and 2027.
Media and Entertainment Content Holds Largest Middle East & Africa OTT Platform Market Share
The market is likely to witness substantial growth due to rising demand for media and entertainment content. This is driven by the preference of younger demographics for films, web series, and documentaries, leading to increased OTT platform usage. With around 50% of the Middle East population being under 30, the market holds promising prospects for such platforms. The popularity of Bollywood & Hollywood content in the region, along with affordable streaming options, will further fuel market growth until 2027.
The Surge in Original Content Creation by Enterprises Drives the OTT Platform Market Growth
With the rapid and widespread embrace of OTT platforms throughout the Middle East and Africa, numerous production studios are actively pursuing the creation of unique content tailored to the distinct preferences of viewers across various countries in the region. This trend is fueling a growing acceptance of these platforms among the populace of the Middle East, thereby propelling the market’s expansion well into 2027.