August 26, 2020
According to the research report titled ‘Video on Demand (VoD) Market Size By Type, By Revenue Model, By Application, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026’ available with Market Study Report LLC, global video on demand market is expected to register considerable growth over 2020-2026.
Increasing availability of high-speed data plans along with escalating use of digital media platforms are augmenting the growth of global video on demand market.
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For the record, VoD (video on demand) is a dynamic feature provided by Internet Protocol TV, that delivers video content to users through real-time streaming protocol (RTSP). It includes numerous video programs such as sports, educational programs, and entertainment shows and allows the user to select videos as per their choice as well as convenience.
Based on type, the report states that the OTT video on demand segment is predicted to showcase high CAGR through 2026. OTT video on demand allows to stream videos at any given time. Additionally, accessibility of the service on multiple independent websites and applications such as Android TV, iOS mobile app, Apple TV, and Roku are fostering the expansion of the segment.
Moving on to revenue model, transactional segment is expected to generate commendable returns during the analysis timeframe. The transactional-based revenue model caters to the convenience of users to pay for specific videos only. Therefore, the rising demand for transactional-based VoD service is boosting the growth of the segment.
Elaborating on the application spectrum, education & training segment is anticipated to witness remunerative growth in the forthcoming years. Surging demand for video on demand service in order to carry out seminars, presentations, and e-learning initiatives are contributing towards its popularity in education & training applications.
As per the regional analysis of the report, Asia-Pacific video on demand market is projected to showcase considerable growth through 2026. Factors such as rising awareness towards improving business productivity coupled with availability of high-speed internet plans are favoring the regional market outlook. Additionally, inclination of conventional broadcasters towards providing online services has enhanced the use of digital media solutions, which in turn is fueling the growth of the regional market.
On the other hand, Latin America Video on demand market is estimated to expand significantly over the forecast period, owing to rising adoption of OTT video on demand content.
The major players that define the competitive landscape of global video on demand market include Zee Media Corporation Ltd., ViacomCBS Inc., The Walt Disney Company, The British Broadcasting Corporation, Sony Corporation, Rakuten, Inc., Netflix, Inc., Microsoft Corporation, iflix, Home Box Office, Inc., Google LLC, Facebook, Inc., Comcast Corporation, Apple, Inc., and Amazon.com, Inc. among others.