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South Korea OTT Services Market Size & Forecast 2026

Chrome ISR
South Korea OTT Services Market Size & Forecast 2026

High penetration of smart devices along with widespread consumption of OTT across the country is anticipated to drive South Korea’s OTT services market. According to a report “South Korea OTT Services Market Size & Forecast 2026”, by Chrome Analytics. The market size of South Korea OTT services is expected to reach USD1.2 billion by growing at a CAGR of more than 11% till 2026.

The country has high network infrastructure with high internet penetration. The number of internet users has grown at a significant pace during the last decade with more than 96% of the total population of 51.8 million using internet services as of 2020. South Korea also has one of the biggest film and entertainment industry globally. Many of its shows are watched globally which has resulted in many new international production houses launching their movies and TV shows over the OTT platforms in South Korea.

Onset of pandemic has also been a blessing in disguise for the OTT services market as the country’s OTT usage rate also increased during this period. Lockdowns also led to shutting down of movie theatres, and entertainment zones which further added to the demand as many production companies started switching towards launching their productions on OTT platforms rather than continuing on theatres.

The OTT services market of South Korea has been segmented by type which includes Communication services, Media services and Application services. The market has also been categorised by type of platform used which includes Smartphones, Smart TVs, laptops, gaming consoles and others.

In terms of region, South Korea’s OTT Services Market has been segmented into three regions, which are Central, Northern & Southern. Northern region accounted for the highest share on account of high population share and the presence of metropolitan areas such as Seoul and Incheon. This share is expected to remain the same during the forecast period.

The report offers insights around the current market scenario which comprises of market size, growth rate along with market drivers, challenges, current trends, and opportunity areas. The report also includes detailed information around market segmentation and key competitors present in those segments.

Key market players, which are covered in the report include:

·        Netflix

·        Disney+

·        Wavve

·        YouTube

·        TVING

·        Amazon Prime

·        Rakuten Viki

·        Hulu

The report bifurcates OTT Services market by Type and by Platform. On the basis of type, the report segments the market into Communication services, Media services and Application services. In terms of market share by platform usage, the reports cover share by Smartphones, Smart TVs, laptops, gaming consoles and others.

The report, “South Korea OTT Services Market”, has been developed by gathering information based upon primary as well as secondary sources. Primary research conducted during the process includes interviews with OTT product & solution providers along with various industry experts. Secondary research includes an exhaustive search of relevant publications such as company annual reports, financial reports, news articles and other proprietary databases.

About Chrome Data Analytics & Media                    

Chrome DM is a technology-driven market research firm with a Pan-India on-ground presence. As of September 2017, the organization has a team of 650+ field staff, 150+ managerial staff and 450 tele-callers speaking over 22 languages to gather data from 5817 towns. With a presence in over 5,99,623 villages, Chrome DM also has an unprecedented reach into Rural India. Since its inception, Chrome DM has worked with some of the biggest brands across industry verticals, including Dabur, Gionee, Lava, Sony, Samsung, Government of Rajasthan, BJP, Employee Provident Fund Organization, Star India, Bureau of Energy Efficiency, Times Group, Future Group, Mercedes, Cafe Coffee Day, Zee, Soulflower & Mahindra amongst other reputed organizations, by providing them research & advisory.

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