Video on Demand (VoD) Market worth USD 160.5 billion by 2030

The Market Statsville Group (MSG) publishes the new report on the "Video on Demand (VoD) Market by Solution (Pay-TV, OTT Services, and IPTV), by Monetization Model (Transaction-Based, Subscription-Based, and Advertising-Based), by Application (Media & Entertainment and Gaming, Live Events and Sport, Education & Training, and Other Applications), by Device (Laptop/Computer, Smartphone, Smart TV, and Tablets), by Region – Global Share and Forecast to 2030".

The global video on demand (VoD) market size is expected to grow from USD 50.9 billion in 2021 to USD 160.5 billion by 2030, at a CAGR of 15.2% during the forecast period. The growing use of mobile phones and increasing digital media consumption are adding fuel to the exploding growth of video on demand industry. As per We Are Social and Hootsuite’s Global Digital 2019 report, the internet users are increasing by an average of more than one million new users every day. Further, the advent of 5G networks is set to cause another wave of innovation, new players, and potentially disruption on the existing value chain as video consumption and entertainment grows more mobile. 5G networks will provide better quality video on mobile devices and additional immersive experiences, among other benefits. Mobile devices are increasingly used to watch video, but generally over WiFi within the home. However, the acceleration of mobile technology development and, ultimately, 5G networks could enable the broader use of cellular networks for on-demand video delivery. Mobiles are also a viable alternative to fixed broadband to households. Current mobile networks cannot meet the bandwidth and latency demands these applications require. However, 5G networks are expected to deliver the specified capability. 5G offers quite just incremental enhancements over 4G. It will offer data speeds 100 times faster than 4G, 50 times lower latency, 100 times more network capacity, and significantly more reliable connections. For streaming video, the extremely low latency of 5G vastly reduces obstructing and buffering, and helps enable organizations to deliver higher resolution video streaming.

Global Video on Demand (VoD) Market Segmentation

The video on demand (VoD) market has been segmented into the solution, monetization model, application, device, and region.

• By Solution (Pay-TV, OTT Services, and IPTV)
• By Monetization Model (Transaction-Based, Subscription-Based, and Advertising-Based)
• By Application (Media & Entertainment and Gaming, Live Events and Sport, Education & Training, and Other Applications)
• By Device (Laptop/Computer, Smartphone, Smart TV, and Tablets)
• By Region (North America, Asia Pacific, Europe, South America, and the Middle East & Africa)

The subscription-based, by monetization model, holds the largest market share during the forecast period

Based on the monetization model, the global video on demand (VoD) market is divided into transaction-based, subscription-based, and advertising-based. In 2021, the subscription-based VoD segment dominates the market owing to unique features and unlimited access to content. Subscription-based VoD is a subscription-based service that enables users to have unlimited access to streaming video content at a routine fee for a specific period of time. Through subscription-based VoD, customers have control over the content they want to watch. They can choose when to start or pause the program. The customer also gets the option of fast-forwarding, rewind, or stop the video at their wish. With the help of this service, high-quality content is available on-demand, anytime, and anywhere directly on the customer’s television set.

An upsurge in mobile broadband penetration has boosted the adoption of mobile devices for digital content streaming. Additionally, various mobile TV applications introduced by companies, for example, Netflix, Inc. and YouTube, LLC, have increased the consumption of digital content via mobile devices. This is supporting the growth of subscription video across the world. Also, content service providers, such as Netflix and Hulu, are chosen by customers for better pricing and broader content choice.

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Asia Pacific accounts for the largest market share in the video on demand (VoD) market in 2021

Based on the regions, the global video on demand (VoD) market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2021, Asia Pacific had the largest market share in the video on demand. Asia Pacific had some of the countries with the fastest internet speeds in the world. For instance, China had the fastest mean mobile download speed of almost 31 Mbps as well as the fastest mean fixed download speed of about 76 Mbps in 2018.

Moreover, a large population of millennials in the Asia Pacific region is one of the major drivers for the growth of the video on demand (VoD) market. As millennials have the highest consumption of video on demand (VoD). Moreover, the emergence of new technologies is expected to boost the growth of the video on demand (VoD) market in Asia Pacific.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the video on demand (VoD) market. It also consists of the profiles of leading companies such as Netflix Inc., Youtube, Amazon.com, Inc., Apple Inc., Cisco Systems, Inc., HBO Home Entertainment Inc., VUDU Inc., Comcast Corp., and IndieFlix. These market players have focused on acquisitions and expansion to gain a larger market share in the video on demand (VoD) market.

Browse the complete report: https://www.marketstatsville.com/video-on-demand-market

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