Brand: MacNews

The global over-the-top (OTT) devices and services market is expected to reach $165 billion by 2025, according to new data from Research and Markets (www.researchandmarkets.com).

The rising penetration of mobile devices, such as tablets and smartphones, and advancements in consumer electronics devices such as smart TVs, are estimated to drive the demand for OTT content and services amongst the masses over the forecast period, adds the research group.

The global smart speaker market to grow at a CAGR [compound annual growth rate] of 24.02% during the period 2017-2021, according to new data from Research and Markets (www.researchandmarkets.com).

According to the research group, one of the major drivers for this market is increase in number of smart homes. A large number of homes in developed countries such as the U.S. and the UK are being renovated into smart homes. In a smart home, smart electronics, consumer electronic devices, and media and entertainment gadgets are connected to the home network and can interact with each other.