Video on Demand in Hospitality - Introduction
- Video on demand (VOD) is a technology that is used to deliver content to customers in video format in the form of television shows and movies without arranging any schedules. Video on demand offers a wide range of video content that includes entertainment, films, sports, and educational programs as per customer preference
- VOD enables multiple users to watch the same content at the same place on different devices at the same time. This enhances the customer viewing experience, which results into increasing popularity of video on demand service.
Global Video on Demand in Hospitality Market: Dynamics
Global Video on Demand in Hospitality Market: Key Drivers
- Increasing penetration of smartphones and tablets as a delivery model is expected to drive the video on demand in hospitality market during the forecast period
- Adoption of internet protocol television (IPTV) solution in hotels and luxury resorts to provide in-room viewing experience to the customer is estimated to drive the video on demand hospitality market
- Increased demand for OTT (Over the Top) platforms due to rising adoption for unlimited access to high quality content provided by hotels, luxury resorts, and cruises to enhance customer experience is estimated to further propel the video on demand in hospitality market during the forecast period
- Complex infrastructure of video on demand hampers the video on demand in hospitality market
- High operational cost of video on demand service further restrains the market
- Increase in number of subscribers of various competitors of VOD in different countries is estimated to offer substantial opportunities for the video on demand in hospitality market
Impact of COVID-19 on Global Video on Demand in Hospitality Market
- Increasing cases of COVID-19 across the globe is resulting in economic slowdown and millions of employees are working from home for the first time, during this pandemic
- Governments have enacted restrictions on the movement of people due to COVID-19, which has led to the integration of customers across the entertainment sector. This has positively impacted on the video on demand in hospitality market in this pandemic situation.
North America to Hold Major Share of Global Video on Demand in Hospitality Market
- In terms of region, the global video on demand in hospitality market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
- North America dominated the global video on demand in hospitality market and held a prominent share primarily due to the presence of developed economies, such as the U.S. and Canada. Rising internet speeds and switch from displaying content on television or any other devices to display high quality content on digital devices is anticipated to boost the video on demand in hospitality market in the region.
- Increasing integration of different type of content on digital devices due to increasing customer preferences in the region is expected to fuel the demand for video on demand in hospitality in Asia Pacific
- Rise in awareness about mobile wireless connections with high internet speed in Middle East & Africa is estimated to propel the demand for precision video on demand in hospitality in the region during the forecast period
- Adoption of digital technology in the hospitality industry in Europe is expected to boost the video on demand in hospitality market in the region
- Rise in adoption of smart devices in South America is projected to fuel the video on demand in hospitality market in the region during the forecast period
Global Video on Demand in Hospitality Market: Competition Landscape
- Prominent players of video on demand in hospitality market highly have been focused on rapid technological development since the last few years
- In August 2020, Netflix, one of the major players of the video on demand market, announced the launch of its new user interface in Hindi language to serve the massive customer base present in India. It helps customers to switch to Hindi by managing their profiles on their smartphones, desktops, and TV.
Key Players Operating in Global Video on Demand in Hospitality Market Include:
- Amazon.com, Inc.
- Apple Inc.
- Avaya, Inc.
- AT&T, Inc.
- Alcatel-Lucent S.A.
- Akamai Technologies
- Cisco Systems, Inc.
- Eruvaka Technologies Private Limited
- Google, Inc.
- Huawei Technologies Co, Ltd.
- Microsoft Corporation
- Netflix, Inc.
- Nokia Networks
- The Walt Disney Company
- Telefonaktiebolaget LM Ericsson
- ZTE Corporation
Global Video on Demand in Hospitality Market: Research Scope
Global Video on Demand in Hospitality Market, by Solution
- Pay TV
- Internet Protocol Television
- Over The Top
Global Video on Demand in Hospitality Market, by Business Model
- Transactional Video-on-demand (TVoD)
- Subscription Video-on-demand (SVoD)
- Other Business Models
Global Video on Demand in Hospitality Market, by Delivery Model
- Laptops and Desktops
- Smart phones and Tablets
- Smart TV
Global Video on Demand in Hospitality Market, by End-user
- Cruise/Luxury Yachts
- Day Care Center
- Others (Restaurants and Lounges)
Global Video on Demand in Hospitality Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.