Global Video on Demand Market Growth by type, Revenue Model, Application, Region, and Key Companies
The global Video on Demand market was valued at USD 49.29 billion in 2020 and is expected to reach USD 128.94 billion by the year 2025, at a CAGR of 14.88%.
Video on demand is a technology that is used to deliver online graphic content such as videos, movies, and television shows directly to individual customers for immediate viewing. Video on demand comprises of free and programs that are paid for from different devices such as smartphones, tablets, television, and many others.
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The Major key players operating in this industry are Amazon.com, Inc., Apple, Inc., Comcast Corporation, Facebook, Inc., Google LLC, Home Box Office, Inc., Iflix, Microsoft Corporation, Netflix Inc., Rakuten Inc.
The Video on Demand market is segmented
by Type
· Internet Protocol Television (IP TV),
· Over-The-Top (OTT),
· Pay television (Pay-Tv)
by Revenue Model
· Advertisement,
· Hybrid,
· Subscription,
· Transactional
· By Application
· Education & Training,
· Health & Fitness,
· Media & Entertainment
Regions and Countries Level Analysis:
· North America (U.S., Canada, Mexico)
· Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
· Asia-Pacific (China, India, Japan, Southeast Asia etc.)
· South America (Brazil, Argentina etc.)
· Middle East & Africa (Saudi Arabia, South Africa etc.)
According to the analyst, the online platform and real-time video streaming of ultra-high-quality using smartphones, televisions and other devices are generating high revenue for the Video-on-demand market. The increase in the viewers getting attracted to such platforms and at their own convenience without depending on any broadcast channel is a major driver for the growth of the market.
Video-on-demand providers such as Amazon, Netflix, Hulu, Hotstar, and many others are collaborating with Artificial Intelligence to analyze the type of content consumers are attracted to. The major industry giants are investing in big data science and artificial intelligence to review the customer's history, to give a personalized experience, and recommend more shows that they are like to view.
By the end of 2027, the Video on Demand market size is estimated to be at USD 148.70 billion. The Pay-tv video on demand is expected to increase the market in South Africa as the providers are focusing on the price strategy to attract the target audience. The MEA region is expanding their Video on demand market as the African country has lower internet subscribers which are increasing the segment for the Pay-Tv. The increasing usage of smartphones and smart tv is propelling the growth drastically and is expected to increase more in the forecast period.
The Video on Demand market is segmented by Type (Internet Protocol Television (IP TV), Over-The-Top (OTT), Pay television (Pay-Tv)), by Revenue Model (Advertisement, Hybrid, Subscription, Transactional), By Application (Education & Training, Health & Fitness, Media & Entertainment). The market is further analyzed on the basis of regional analysis and divided into major regions like North-America, Latin America, Asia-Pacific, Europe, and MEA.