Global Video on Demand (VoD) Market growing At a Phenomenal Pace to Reach USD 87.6 Billion Globally By 2026 - Zion Market Research

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Zion Market Research

02 Sep, 2021, 11:30 GMT

NEW YORK, Sept. 2, 2021 /PRNewswire/ -- Zion Market Research has published a new report titled "Global Video on Demand (VoD) Market by Product (Pay TV Video On Demand, Internet Protocol Television (IPTV) and Over The Top Service (OTT)) by Technology (Near Video on Demand (NVOD), Subscription Video on Demand (SVOD), Transactional Video on Demand (TVOD) and Others) by Application (Entertainment, Education and Training, Digital Libraries and Others) by End-users (Healthcare, Manufacturing, Hospitality and Tourism, IT and Telecommunications and Others) and by Region: Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2026". According to the report, the Video on Demand (VoD) Market was valued at around USD 38.9 Billion in 2019 and is expected to reach over USD 87.6 Billion by 2026, growing at a CAGR of around 12.3% during the forecast period from 2020 to 2026.

Video on Demand (VoD) was initially in demand for movie access with changing customer priorities. VoD offers a wide range of services such as entertainment, educational programs, sports, etc. VoD providers had introduced a wide range of alternatives for the customers as the demand for various television channels and other content was boosted.

VoD is a system that allows the user to select and watch the video context whenever they desire. It can easily be implemented by using electronic devices such as smartphones, smart TVs laptops, tablets, etc. Subscription for VoD is in budget and has secure gateways. In case the broadband or the wide fidelity networks are not supported to the device or presence of jammers may affect the quality of service provided by VoD.

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Amongst the classification of product Internet Protocol Television (IPTV) triggers the market growth as it owes the latest technological innovation. IPTV is a secure and reliable way to subscribe to the channels. One can watch the television and surf the internet simultaneously by using IPTV. The Quality of Service (QoS) is sustained by using network management, bandwidth provisioning, and routing management. IPTV is sponsored and maintained by large telecom providers for replacing products for digital cable and satellite services. The ease of availability for broadband is triggering the demand for this market.

The commencement of Over-the-top (OTT) video streaming boards, such as Netflix, Hotstar, and Amazon Prime, tied with the growing internet penetration and is accountable for the growth of digital video consumption. OTT services employ the comfort for individual viewership hence, proposing the convenience in terms of time, place and device. OTT offers a wide range of alternatives for the payment. The payment gateways are secure and no private data is leaked. The user can recharge their subscriptions according to their needs.

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North America and Europe are dominant in the market for VoD as it exhibits the fastest growing technology. Asia Pacific region shows the highest growth rate for the VoD market. The proliferation of smart devices broadband, internet connectivity and the emergence of 4G & 5G is enhancing the regional market shares of China and Japan.

The market contributors to digital media fields such as Apple TV, Amazon, Netflix, and Hulu are stimulating the traditional televisions that are seen as entertainment hubs. Some of the key market players in the market are Netflix, Amazon, Google, YouTube, Apple, HBO, Cisco, Roku, IndieFlix, Vudu, Hulu, Comcast, Akamai, Huawei, Fujitsu, CenturyLink, Muvi, Vubiquity among others.

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This report segments the Video on Demand (VoD) Market as follows:

Global Video on Demand (VoD) Market Analysis by Product

  • Pay TV Video On Demand
  • Internet Protocol Television (IPTV)
  • Over The Top Service (OTT)

Global Video on Demand (VoD) Market Analysis by Technology

  • Near Video on Demand (NVOD)
  • Subscription Video on Demand (SVOD)
  • Transactional Video on Demand (TVOD)
  • Others

Global Video on Demand (VoD) Market Analysis by Application

  • Entertainment
  • Education and Training
  • Digital Libraries
  • Others

Global Video on Demand (VoD) Market Analysis by End users

  • Healthcare
  • Manufacturing
  • Hospitality and Tourism
  • Telecommunications and IT
  • Others

Global Liquid Crystal Display Television (LCD-TV) Market Analysis by Region

North America

  • U.S.

Europe

  • UK
  • France
  • Germany

Asia Pacific

  • China
  • Japan
  • India

Latin America

  • Brazil

Middle East and Africa

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