The global market for the Video On Demand (VoD) is anticipated to develop at a compound annual growth rate (CAGR) of 18.00% throughout the course of the forecast, to reach USD 203.60 billion by 2029.
Video on demand (VoD) is a video distribution system that allows individuals to access entertainment content on smartphones, tablets, and other mobile devices at any place at any time. Shifting customers' priorities and availability of a wide range of content services such as sports, educational programs, entertainment, and others are the key factors driving the adoption of video on demand (VoD) services. The global video on demand (VoD) market size is anticipated to reach over USD 82 billion by 2025. This can be attributed to the increasing proliferation of mobile devices is driving the market growth.
However, the increasing threat of video content privacy is expected to hamper the market growth. Furthermore, the growing demand for online streaming services is expected to provide lucrative growth opportunities for the market. Also, the advent of 5G technology is anticipated to be opportunistic for the market in forthcoming years.
Video On Demand (VoD) Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2029||USD 203.60 billion|
|Growth Rate||CAGR of 18.00 % during 2021-2029|
|Segment Covered||By Component, Delivery Technology, Application, Industry Vertical, Device Used, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Netflix (U.S.), Amazon Inc., (U.S.), Google Inc., (U.S.), Akamai Technologies (U.S.), YouTube (U.S.), Apple Inc., (U.S.), Home Box Office, Inc. (U.S.), Cisco Systems, Inc. (U.S.), Roku Inc., (U.S.), iNDIEFLIX Group Inc (U.S.), Fandango (U.S.), Hulu, LLC (U.S.), Comcast (U.S.), Huawei Technologies Co., Ltd. (China), Fujitsu (Japan), CenturyLink (U.S.) Muvi LLC (U.S.), and Vubiquity, inc. (U.S.)|
Key Segment Of The Video On Demand (VoD) Market
By Component, 2022-2029 (USD Million)
Delivery Technology, 2022-2029 (USD Million)
• Near Video on Demand (NVOD)
• Subscription Video on Demand (SVOD)
• Transactional Video on Demand (TVOD)
Application, 2022-2029 (USD Million)
• Education and Training
• Network Video Kiosks
• Online Commerce
• Digital Libraries
Industry Vertical, 2022-2029 (USD Million)
• Academia and Government
• Consumer Goods and Retail
• Hospitality and Tourism
• Telecommunications and IT
• Media and Entertainment
• Transport and Logistics
• Financial Services and Insurance (BFSI)
Industry Vertical, 2022-2029 (USD Million)
Regional Overview, 2022-2029 (USD Million)
• Rest of Europe
• Rest of Asia Pacific
• Rest of South America
Middle East and South Africa
Frequently Asked Questions (FAQ) :
The growing adoption of mobile applications and computing devices is one of the prime factors fuelling the market growth of the video on demand (VOD) services. However, with the growing adoption of smartphones, the video-on-demand service providers are experiencing huge growth in their customer base. Additionally, with the growing adoption of internet services and enhanced internet speed, the video-on-demand market is experiencing huge traction recently. Furthermore, with the video on demand applications vendors are now targeting various customers through advertising and also able to retain old customers. Moreover, with the advent of 5G technology, the video on demand (VoD) is expected to see the major growth opportunity in forthcoming years.
Based on the segment of the product, the market is divided into Over the Top (OTT) service, pay-TV, and IPTV. In 2019, the Over the Top (OTT) service segment gathered the highest market revenue and it is expected to do so throughout the forecast period. The dominance of this segment is primarily attributed to the wide variety of content and payment options. Also, the growing adoption among global audiences is the key factor driving the demand for OTT services. However, the IPTV segment is expected to gather the highest market growth during the forecast period.
Model Type Segment
Based on the model type, the market is segmented into advertising-based, subscription-based, transaction-based, and others. The advertising-based segment dominated the market in 2019 and it is projected to maintain its position throughout the forecast period. On the contrary, the subscription-based segment is anticipated to gather the highest CAGR during the forecast period 2020-2025.
Based on application, the market is segmented into digital libraries, entertainment, education and training, and other segments. In 2019, the entertainment segment gathered the highest market growth. The growth of this segment is primarily accredited to the increasing digitization of the gaming and entertainment industry. In addition, with the VoD services enterprises can deliver media and advertising content through messaging channels which can further enable better customer engagement.
The North America region is anticipated to gather the highest market share during the forecast period. The dominance of this region is mainly accredited to the increasing investment in new and advanced technologies. However, the Asia-Pacific region is expected to hold the highest growth rate throughout the forecast period 2020-2025. The growth of the video on demand (VoD) market in this region mainly attributed to the growing demand for dynamic local content in this region. Also, the increasing adoption of smartphones and improved internet connectivity are some of the key factors boosting the market growth in this region.
The major players of the global video on demand (VoD) market are Amazon, YouTube, Netflix, HBO, Cisco, Apple, Hulu, Roku, Comcast, and Vudu. Moreover, the other potential players in the video on demand (VoD) market are Akamai, Huawei, Muvi, Fujitsu, and IndieFlix. The recognized companies are coming up with an innovative and new video on demand (VoD) solutions. For instance, in January 2019, Amazon’s IMDb launched Freedive, a free streaming service. The service is free and does not require any subscription however, the available content supports advertisements.