The global video on demand market is anticipated to expand at a robust CAGR during the forecast period, 2021-2028. The growth of the market is attributed to rising usage of mobile technology for watching content on several media channels. Moreover, high penetration of internet technology such as Wi-Fi 5, Wi-Fi 6, and 5G is propelling the market growth.
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Video on demand (VoD) services offer various entertainment, movies, sports, and educational programs. Unlike traditional broadcasting method that requires television and set-up-box to access the programs, VoD platforms allow the user to access the program through consumer electronics such as laptops, smartphones, and tablets.
The rapid growth of the video on demand market is anticipated to create lucrative opportunities for content creators and cable operators across the globe. This is due to the fact that VoD allows the users to reach the preferable content through using multiple devices and watch it with a better experience. The major players of the video on demand market include cable providers, movie studios, over-the-top (OTT) providers, and retailers.
Market Trends, Drivers, Restraints, and Opportunities
- Rising penetration of smart TVs that enable easy accessibility to video content across various media channels is anticipated to propel the market growth during the forecast period.
- Growing adoption of artificial intelligence (AI) to improve the user’s feed and viewing experience is expected to boost the growth of the market.
- Major challenges such as compatibility issues with devices, complexity in format management, complex digital rights management (DRM), and lack of heavy investment for content curation can restrain the market growth.
- Increasing personalization of VoD services with the help of Big Data is expected to positively influence the market growth.
- COVID-19 pandemic had resulted in the emergency lockdown to mitigate the spread of virus across the globe. This, in turn, has encouraged people to sign up for VoD services. Moreover, players are focusing to develop innovative VoD platforms to improve their content and increase their market share.
- Increasing Internet consumption is expected to proliferate the market growth in the coming years.
Video On Demand Market Segment Insights
IPTV segment to account for a significant market share
In terms of types, the market is divided into internet protocol television (IPTV), over-the-top (OTT), and pay television (Pay-TV). The IPTV segment is expected to account for a significant market share during the forecast period. IPTV allows the users to subscribe to video services in a secure way. Increasing penetration of Internet is driving the growth of the market segment. Massive investment on IPTVs from large telecom providers to create a replacement for digital cable in the future plays a key driver for the segment growth.
Subscription video on demand (SVoD) segment to grow at a healthy rate
Based on revenue models, the video on demand market is classified into subscription video on demand (SVoD), advertisement based video on demand (AVoD), and transaction video on demand (TVoD). In 2020, the SVoD segment dominated the market share and is anticipated to grow at a healthy rate during the forecast period. SVoD-based VoD services allow the users to viewers to pay for the content they want to watch.
TV Entertainment segment to account for a large market share
On the basis of content types, the market is segmented into sports, music, TV entertainment, kids, movies, and others. The TV entertainment segment is expected to account for a large market share in the coming year owing to the rising demand for original content among users. Companies such as Amazon, Netflix, and Disney are investing millions of dollars for the curation of original series and movies. The development of the advanced internet infrastructure and cost-effectiveness of the same are driving the growth of the market segment. On the other hand, the sports segment is anticipated to exhibit a high CAGR owing to the growing interest of users to watch the live streaming of the sporting events.
Asia Pacific to exhibit a high CAGR
In terms of regions, the global video on demand market is categorized as North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America accounted for a large market share in 2020 owing to the presence of major industry players, which led to the early adoption of the latest technologies in VoD platforms. On the other hand, the market in Asia Pacific is anticipated to exhibit a high CAGR owing to the increasing penetration of internet and rapid development of Internet infrastructure in emerging economies such as India and China.
Competitive Landscape
The major players of the market are Netflix, Inc., Amazon.com, Inc., Tencent Holdings Ltd., The Walt Disney Company, Apple Inc., Microsoft Corporation, Google LLC, Rakuten, HBO, Zee, Viacom CBS, and Sony Corporation.
Companies are engaging in partnerships with telecommunication conglomerates to expand their market share. Moreover, they are focusing on creating original shows to leverage their market position, while they are increasingly adopting various strategies such as signing partnerships with movie studios to gain more subscribers to their services.
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The Video On Demand Market research report provides the latest industry data, growth, key segments and future trends on the basis of the detailed study.
This market report also allows you to identify the future opportunity and growth rate of the leading segment based on regions and countries.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the video on demand market include Amazon Prime Video, Apple Inc., Hulu LLC, Netflix Inc., Youtube LLC and Others.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Video On Demand Market Research Report" by requesting FREE Sample Copy athttps://www.valuemarketresearch.com/contact/video-on-demand-market/download-sampleMarket DynamicsThe increasing adoption of mobile TV and multi-screen services for content viewing is primarily driving the market growth.
Increasing penetration of smartphones and continuously expanding online users across the globe are further boosting video on demand market growth.
Whereas, growing technological advancements and the emergence of internet protocol television (IPTV) infrastructure are expected to provide potential opportunity over the forecast period.The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis.
Think about your day-to-day life: how many video on demand platforms do you subscribe to, and how many more can you name?The real-time streaming of video and audio content, combined with the entrance of big players into countries all around the world, has made the market value for video on demand solutions shoot through the roof.The size of the market come 2026 is projected to be USD 175 Billion; North America alone will account for USD 19.7 Billion in 2027.To elucidate this forecast further, you will be surprised to know that 70% of US households carry a minimum with one subscription VOD as compared to 40% of UK residents.Wow, that’s a huge factor to consider!What is Video on Demand?The literal translation of VOD is Video On Demand that is purely streamed online with its immersive TV technology.Basically, this allows users to access their convenient content and your customers can watch them in real-time or download it for later streaming.Sometimes the channel owners or content creators provide varied choices of content to only subscribed customers or logged-in members only.
While on the other hand, some other models will have numerous VODs online that can be viewed by everyone.This is indeed done for specific marketing purposes which can differentiate your unique on-demand videos display with regular watch videos.These videos are part of a prepared catalog that’s plugged into the VOD platform,Enable users to browse through the selectionFind videos they want to watch right now orCreate playlists to watch at a later stageHere are some of the popular examples that use video-on-demand technology & have bottled up the enterprising streaming market!NetflixAmazon Prime VideoDisney+HotstarAppleTV+HuluHBO MaxSonyLivHow to choose the right VOD platform provider for your businessSo far you have been coming across the importance of a video broadcasting platform.
Now you can get a brief about what kind of parameters are required to be met for building an enhanced video on demand website.CustomizationWhen you go for any streaming service provider to develop your brand-personalized platform have more powers to grant features, USPs & other perks to simply provide various user choices, increasing flexibility.HostingPower your VOD streaming service platform with a perfect SaaP solution with advanced video management tools & hosting solutions.
Also, get flexible deployment options through on-demand platform providers that can help you to have it at your premises or on cloud servers.SecuritySince the online threat environment has constantly been crucial in these hard times, it is essential to protect your valuable videos with a perfect robust secure streaming solution.
Some of it would comprise password protection, IP restrictions, SSL encryption, copyrights, etc.MonetizationGenerate your potential revenue streams by offering varied services to your audience such as incorporating ads, offering subscription packages, providing a one-time view watch, etc.
VPlayed - A Complete White label Video Platform For Your BusinessVPlayed is a 100% customized streaming platform that is flexible & provides end-to-end future-proof features for multiple industry use cases, backed by secure technologies.When it comes to streaming video and audio content without a hitch across multi-device channels, it is the first choice of many popular across industries.2.
