The Video On Demand Market is forecast to gain from the rapid penetration of the Internet in undeveloped nations. Fortune Business Insights has recently published a report, titled “Video On Demand Market Size, Share and Global Trend by Technology (SVOD, TVOD, AVOD), Content Type (Sports, Music, TV Entertainment, Kids, Movies), and Geography Forecast till 2025,” which offers an executive-level blueprint of the market. The report has pegged the overall value of the global market stood at US$ 43.9 Bn in 2017. However, progressing at a CAGR of 9% the market is expected to reach a valuation of US$ 87.1 Bn by the end of 2025.
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Top Key Players Mentioned:
- Amazon Inc.
- Hulu LLC
- Verizon Communication LLC
- Apple Inc.
- Netflix Inc.
- Ericsson Television
- Comcast Corp
Additionally, the market in North America was worth US$ 16.2 Bn in 2017. North America also held the highest share in the global market in 2018 and is forecast to witness impressive growth through the course of the forecast period 2018-2025. The increasing demand for video-on-demand services in the region, coupled with the presence of a high number of service providers are expected to facilitate expansion of the market.
Besides this, the market in Asia Pacific holds a lot of potential and is projected to expand at a relatively high CAGR over the forecast period. The increasing adoption of smart TV, smartphones, and others are likely to fuel the demand for video on demand services in the region, thus aiding its expansion in the Asia Pacific.
The report also classifies the global market in various segments. In terms of technology, subscription video on demand (SVOD) held the highest share in the global market in 2017. The segment is expected to expand at a CAGR of 8% during the forecast period. The growth witnessed in this segment is attributable to SVOD’s distinct features such as unlimited content access, minimal or no advertisements, and others.
Netflix and Tata Sky Collaborated to Cater to Indian Market
One of the key factors anticipated to drive the global market is the increasing user-base of various online platforms and cheaper data plans. Additionally, collaboration among video on demand service providers is also anticipated to propel the demand in the global market. For instance, Netflix collaborated with Tata Sky (an Indian DTH service provider) to cater to the market for video on demand in India. Owing to the collaboration Tata Sky subscriber can receive worldwide quality content on demand. Such collaborations are expected to bode well for the market and help service providers capitalize on untapped opportunities.
“Governments initiated awareness programs encouraging Internet penetration in undeveloped nations of Africa, Latin America, and others are likely to fuel the demand for video on demand service,” said a lead analyst at Fortune Business Insights.
The growing demand for instant satisfaction of entertainment needs among customers will act as a dominant force boosting the global market.
However, higher data tariff prices and lack of awareness about video on demand’s existence are major factors that may hamper the growth in the global market.
Increasing Inflow of Market Players to Boost the Market
Netflix and Amazon Prime are among the leading players in the global market. Besides these, other organizations operating in the global video on demand market are Hulu LLC, Verizon Communication LLC, Apple Inc., Telefonaktiebolaget LM Ericsson (Ericsson Television), YouTube, Comcast Corp, Hotstar and Canalplay.
Major Table of Content:
- Research Scope
- Market Segmentation
- Research Methodology and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Global Market Overview
- Macro and Micro Economic Indicators
- Emerging Market Trends
- Industry SWOT Analysis
- Global Market Analysis, Insights and Forecast, 2014-2025
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Technology
- Market Analysis, Insights and Forecast – By Content Type
- TV Entertainment
- Market Analysis, Insights and Forecast – By Geography
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