The advent of 5G technology is expected to boost 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. In addition, it is expected to exhibit a CAGR of nearly 15% during the forecast period 2020-2025. The video on demand (VoD) is a system that enables users to choose and enjoy the video content whenever and wherever they want. The video on demand (VoD) services can be implemented across any devices that support web-based video content. Also, the availability of the cost-effective subscription of video contents along with secure gateways is also some of the key features driving the demand for video-on-demand services across all customer segments.
The existing and future video on demand (VoD) market developments are outlined to determine the attractiveness of the market. Key impacting factors highlight the video on demand (VoD) market opportunities during the forecast period. Factors such as the increasing proliferation of mobile devices are driving the market growth. Also, the growing need for flexible video services is also driving the global video on demand (VoD) 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.
The report also highlights numerous aspects of the global video on demand (VoD) industry by evaluating the market through value chain analysis. Besides, the Video on Demand (VoD) market report covers various qualitative aspects of the video on demand (VoD) industry in market restraints, drivers, and crucial industry opportunities. Furthermore, the report offers an in-depth assessment of the market rivalry along with company profiling of local as well as global vendors.
The video on demand (VoD) market has rigorous competition among the already established and new emerging market players. Also, the video on demand (VoD) industry players is targeting potential markets to seize a competitive advantage over the other industry players by forming mergers & acquisitions, acquiring new startups & other companies, agreements, forming collaboration and partnerships, and expanding their business presence.
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 the global audience 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.
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. However, the North American 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.
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.
Segment Overview of Global Video on Demand (VoD) market
Product Overview, 2018-2025 (USD Billion)
- Over the Top (OTT) Service
Model Type Overview, 2018-2025 (USD Billion)
Over the Top (OTT) Service Overview, 2018-2025 (USD Billion)
- Digital Libraries
- Education and Training
Regional Overview, 2018-2025 (USD Billion)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America