South Korea OTT Media Services Market is Being Driven by SVOD During the Forecast Period
Rising popularity of Korean dramas across the world,
increasing penetration of fast internet services and different global OTT
platforms in the country to drive the growth of the South Korea OTT Media
Services Market.
According to TechSci Research
report, “South Korea OTT Media Services Market –By
Region, Competition Forecast and Opportunities, 2018-2028F,” the South
Korea OTT media services market is projected to grow at a significant rate due
to the rise in demand for Korean drams all over the world which is subsequently
attracting numerous companies to launch their OTT platforms in the country.
Thus, significantly driving the market of OTT media services in South Korea.
During the forecast years, it is anticipated that factors
such as increasing internet adoption, smart TV, smartphone, 5G infrastructure,
original media content, and others would present profitable potential for
market expansion. Additionally, the growing use of internet-based applications
is anticipated to fuel market expansion. Additionally, throughout the
anticipated period, the market expansion is predicted to be aided by rising
demand for online streaming content, such as live news, movies, sports, and
other entertainment.
The subscription video on demand is driving the South
Korea OTT media services market due to the presence of original Korean movies,
dramas and the availability various plans according to the need of the
consumers. Moreover, the availability of different video qualities also attracts
a large consumer base.
The popularity of Korean drams is influencing the market
growth as that K-dramas have begun to transcend borders and integrate themselves
into the new, "mainstream" culture that the rest of the world is
interested in. Traditional Korean dramas, like the romantic comedies that were
popular in Asia, will be produced by OTT operators and broadcasting channel
operators (PPs), and various genre contents, like zombies, will be produced
through collaboration between international operators and domestic
producers.
Over-the-top (OTT) on-demand video and music
subscriptions are predicted to expand significantly during the forecast period because of the growing movement in consumers' social behavior
away from traditional subscriptions and toward broadcasting services. Due to
additional advantages like on-demand services and ease of access, several
demographic groups have started embracing video streaming services in place of
traditional television for entertainment.
The South Korea OTT Media Services Market is segmented
based on type, video quality, number of screens, region, and company. Based on
type, the market is further segmented into SVOD, AVOD, TVOD. Based on video
quality the market is divided into HD, Full HD, Ultra HD. Further, on the basis
of number of screens the market is fragmented into 1, 2-3 and more than 3.
Browse over XX market data Figures spread through XX Pages
and an in-depth TOC on "South Korea OTT Media Services Market"
In the video quality segment, many company are offering
all the options for streaming such as HD, full HD and ultra HD. With this the
companies not only attract large consumer base but also differentiate
themselves from others. The Full HD and Ultra HD are being preferred by consumers due to various
features such as excellent quality,
every clear detail on the screen, observance of every action.
Key market players in the South Korea OTT Media
Services Market include:
- Netflix, Inc.
- Amazon.com, Inc
- Alphabet Inc. (YouTube)
- The Walt Disney Company
- Content Wave Co., Ltd.
- Rakuten Group, Inc.
- Kakao Entertainment Co., Ltd.
- Coupang, Inc.
- Teabing Co., Ltd.
- Watcha Inc.
To sustain and boost revenue, prominent corporations are
expanding their operations to foreign countries. The main issue OTT media
service providers are having is keeping their consumers. Because of this,
numerous platforms use a variety of algorithms to provide users with
individualized recommendations based on their likes and dislikes, helping to
keep subscribers. For instance, Evergent, the market leader in customer
management and monetization for streaming and digital subscription businesses,
has partnered up with OSC Korea, a major ICT solutions incubator and MSA
consultancy firm in Korea, to form a new relationship. OSC will be able to
assist clients as they work to quickly build and expand over-the-top (OTT)
content platforms due to the cooperation with Evergent.
Download Free Sample Report
Customers can also request for 10% free customization
on this report.
“The South Korea OTT media services market is witnessing
high growth due to the rising penetration of fast internet through broadband
connections in multiple households. Moreover, the high popularity of Korean
movies and dramas which is gaining a lot of admiration across the world is influencing the various OTT media services
companies to enter the South Korean market,." said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based global management
consulting firm.
“South
Korea OTT Media Services Market By Type (SVOD, AVOD, TVOD), By Video Quality
(HD, Full HD, Ultra HD), By Number of Screens (1, 2-3, More Than 3) By Region,
Competition Forecast and Opportunities, 2018-2028F,” has evaluated the
future growth potential of South Korea OTT Media Services Market and provides
statistics and information on market structure, size, share, and future growth.
The report is intended to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities present in the South Korea OTT Media Services
Market.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]
Website: https://www.techsciresearch.com