OTT App Development Time, Cost, Features, and Market Growth
Posted By : Anirudh Bhardwaj | 27-Aug-2020
The growing popularity of over-the-top streaming platforms has transformed the entertainment and media industry. At the same time, OTT app development has unlocked vast business opportunities across many other industries like travel, lifestyle, news, and education. The adoption of OTT and video streaming services have enabled these industries to engage their target audience and build customer relations.
The advancements in wireless technology and the advent of 4G/5G networks have brought a radical change in content viewing methodologies. Consequently, more users are inclining toward live and on-demand video streaming services, thereby increasing the demand for OTT app development services.
OTT software development is a great way to build a global viewership and maximize user engagement by delivering interactive media content across devices. Similarly, local businesses can use OTT advertising platforms to grab the attention of their target audience and promote their product or services.
OTT Software Development Market Growth and Share
According to Fortune Business Insights, the global OTT services market was valued at $42.6 billion in 2019. At the current rate, it is expected to reach $86.80 billion by 2026 at a compound annual growth rate (CGAR) of 14.3% during the forecast period.
Source: Fortune Business Insights
Talking about device platforms, a major part of the global OTT market share spans across various smartphone platforms. The above graph clearly illustrates that smartphones account for over 47% of the global OTT market share, followed by laptops/desktops, tablets, and smart TVs.
Things To Consider For OTT App Development
Building an OTT app can be a profitable investment as it lets you reach a wider audience without any geographical barriers. However, there are several factors to take into consideration to ensure you take the right steps to maximize your ROI.
OTT App Development Cost
The development cost, more or less, depends on the features that you’re going to implement in the OTT app. In addition, there are other factors that directly contribute to the overall development cost:
- Supported platforms i.e Android, iOS, Apple TV, Amazon Fire TV
- The number of features and the tech stack for their implementation
- The geographical location of the development team
While developing an OTT app, you generally have two options i.e hire indie developers or avail services from an OTT app development company. The average hourly cost for developing an OTT app varies geographically, based on where the development agency is located. That being said, the western countries like the US and the UK normally charge between $80 to $250 per hour for OTT app development. It is much higher as compared to the eastern countries like India where you can get things done at a shoestring budget. Even if you compare with other Asian countries, India offers OTT services at much cheaper hourly rates.
Source: Qubit Labs
The above chart clearly illustrates the average hourly rates for offshore software development services. Please note that the cost for OTT app development might be slightly higher than this in several regions.
At Oodles Technologies, we provide 360-degree OTT app development services for varied business requirements at the most affordable rates. With an extensive client portfolio, we have successfully completed several full-fledged OTT projects for startups, SMBs, and large-scale enterprises. You can view and assess our past work in OTT Video Delivery Solution .
OTT App Development Time
The development time varies, based on the project requirements. A simple Netflix-like OTT app could be completed in 4 to 6 months. However, if you wish to implement custom functionalities from different third-party services, it would proportionately extend the project timeline as well as its budget.
Tech Stack Required For OTT App Development
As of today, cloud integration is essential to build a self-sustaining OTT application that is easy to scale and manage. The popular OTT applications like Netflix, Prime Video, and Hulu are built on top of the Amazon Web Services (AWS) cloud. At the same time, the video calling and messaging app, Skype uses Microsoft Azure Cloud for its streaming services. The popular music streaming app, Spotify is powered by Google cloud platform (GCP).
Apart from cloud integration, developing an OTT app typically requires the following tools and technologies:
Frontend and Backend Development
Developers can choose from the following tools for frontend development of an OTT application:
JavaScrip-based frameworks like AngularJS, Angular, React.JS are increasingly used in OTT app frontend development. At the same time, frameworks like Node.JS, Express, Django, Flask, and Phoenix are actively used for backend development.
Developing an OTT app requires databases such as MySQL, PostgreSQL, Cassandra, Oracle, and more. Besides, it also requires database management tools such as AtlasDB and MongoDB.
Big Data Tools
Making the right use of big data is essential for an OTT app to achieve success. Various big data tools like Hadoop, Spark, Presto, and Parquet are extremely useful for OTT software development.
Providing seamless streaming experiences to users regardless of their varying internet bandwidths should be the core of an OTT application. To deliver uninterrupted video streaming experiences, the best approach is to use adaptive bitrate streaming (ABS) technologies that incorporate a large number of codecs and bitrate patterns. The OTT-giant Netflix also uses adaptive bitrate streaming and so does the largest video sharing platform, YouTube.
You may also be interested in reading Engaging Entertainment Seekers with Media Streaming Apps
OTT streaming has become mainstream in many parts of the world and is soon expected to replace the traditional video viewing experiences. Therefore, it is high time you should consider investing in OTT app development to augmented your business value and create new revenue streams. On the other hand, OTT platforms provide vast opportunities for digital advertising through interactive audio/video content. It is quite evident that OTT-based advertising is more effective as it enables companies to target the relevant audience in the most engaging manner.
Why Choose Oodles Technologies For OTT Software Development?
We are a seasoned OTT app development company with 9+ years of experience in building high-quality video streaming solutions for multiple platforms. Our team of developers is skilled at creating interactive app interfaces for popular OTT platforms like Apple TV, Roku, Chromecast, and Amazon Fire TV to maximize user engagement across devices. We have successfully completed several full-fledged video streaming app development projects for clients from across the globe.
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