The global video on demand market is considered to experience a remarkable level of competition, owing to the expected rise in the number of players operating across the globe, states a research report by Transparency Market Research. The strong presence of satellite companies, online streaming websites, and cable networks is the key factor estimated to encourage the growth of the overall market throughout the forecast period. Some of the prominent players operating in the global market for video on demand are YouTube, LLC, iTunes, Amazon.com, Inc., Hulu, LLC, Verizon Communication, LLC, Home Box Office, Inc., Ericsson, Canalplay, and Maxdome GmbH. The growing focus of key players on innovations and the emergence of effective products are anticipated to accelerate the growth of the overall market over the forecast period. Furthermore, the rising level of competition among the leading players is likely to accelerate the development of the market in the near future.
According to the research study by Transparency Market Research, in 2015, the global market for video on demand was worth US$33.32 bn and is likely to reach a value of US$73.90 bn by the end of 2024. The market is estimated to register a progressive 9.30% CAGR between 2016 and 2024.
North America to Witness High Growth in Coming Years
Among the key regional segments, North America is anticipated to experience a promising growth throughout the forecast period. The increasing adoption of several business models is expected to encourage the growth of the North America market and hold a key share in the next few years. On the contrary, Asia Pacific is likely to witness a healthy growth and is anticipated to register a 9.70% CAGR between 2016 and 2024. The rising investments for the development of high-speed networks and mobile broadband are estimated to accelerate the growth of the Asia Pacific market in the coming years. Furthermore, the Europe market for video on demand is anticipated to grow substantially over the next few years.
On the basis of content, the global video on demand market has been categorized into entertainment, sports, TV commerce, and education and information. Among the mentioned segments, entertainment is estimated to lead the global video on demand market in the next few years. The increasing number of TV shows, movies, and record labels is estimated to accelerate the growth of this segment in the coming years. This segment is likely to be followed by TV commerce and sports. The rising inclination of consumers to spend more on entertainment is predicted to contribute towards the development of the market in the near future.
Growing Demand for High-quality Videos to Encourage Market Growth
The rising adoption of high-speed data networks in broadband, telephony, and television services is one of the key factors estimated to encourage the growth of the global video on demand market throughout the forecast period. In addition to this, the easy availability of enhanced connectivity and the streaming of digital content are predicted to supplement the growth of the market in the coming years. The improving quality of digital content and a tremendous rise in the demand for high-quality videos are anticipated to create promising growth opportunities for the leading players operating in the video on demand market across the globe.
On the other hand, the market leaders are predicted to face several challenges in the next few years, owing to which the market is estimated to witness a downward trend in the coming years. In addition, the increasing concerns related to the illegal and unauthorized sale of digital content has resulted in a low demand for video on demand, which is expected to curtail the growth of the market in the near future. Nevertheless, the strict regulatory framework is projected to contribute towards the development of the global video on demand market in the next few years.
This information is based on the findings of a research report published by Transparency Market Research (TMR), titled “Video on Demand Market (Business Model - Transactional Video on Demand, Subscription Video on Demand, Advertisement Video on Demand, Hybrid (SVoD & AVoD); Content – Sports, Entertainment, Education and Information, TV Commerce) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024.”
The global video on demand market has been segmented as below:
Global Video on Demand Market, by Business Model
- Hybrid (SVoD + AVoD)
Global Video on Demand Market, by Content
- Education and Information
- TV Commerce
Global Video on Demand Market, by Geography
- North America
- The U.S.
- The U.K.
- Rest of Europe
- Asia Pacific (APAC)
- Rest of APAC
- Middle East and Africa (MEA)
- The UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Rest of South America
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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