The process of OTT app development includes the creation of internet apps such as the Smarters OTT app that may be accessed online and be used to stream and play content. OTT applications are different from the good old cable or satellite services because they make use of devices, which are able to access the internet like smart TVs and smartphones.
OTT app development investment is important because of the speedy growth of the online entertainment market. The size of the OTT global market in 2022 was reported to be over $200 billion. This shows just how large the market is. By 2027, it is approximated that the OTT market size will reach $400 billion or more with a compound growth of about 16%. This growth also reflects the large revenue growth in the OTT industry.
Here are some of the reasons why you should invest in the OTT app development: