The report forecasts the global electronic home video market to grow at a CAGR of 18.93% during the period 2016-2020.
One of the notable trends in the global digital video content market is the growing production of in-house web series. The originality of content and innovation are the core competencies of the digital video market, and this has resulted in the growth of in-house produced content across various platforms. Original in-house web-series include drama and comedy series, sitcoms, action series, talk-shows, and documentaries. These are some of the highest viewed videos on online video platforms. As of 2016, Marseille, Love, Fuller House, Flaked, The Characters, The Ranch, and Chelsea are some of the popular in-house web series on Netflix.
According to the report, high viewer control over content will be a key driver for market growth. Viewers have the ultimate control when it comes to digital video content. A wide variety of content is available on the Internet, ranging from YouTube videos to online movies on platforms such as Netflix. Several platforms are available online that streams digital content, offering varying features either for free or on a subscription basis. Digital video content allows consumers the flexibility to choose the desired content and view at their convenience. Moreover, digital video content is usually free of ads and breaks. Even if ads are there, viewers have the option to skip and go on viewing the content.
Further, the report states that with the widespread reach of digital video content, the major challenge in the market is the absence of a governing body to regulate the digital video content platforms. Digital video content can be made available to a colossal audience via platforms such as YouTube. With the rising number of digital video viewers, social media platforms such as Facebook and Twitter are providing users with options to broadcast live videos apart from sharing videos. Thus, users share videos of different genres and varieties.