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.
According to the current analysis of Introspective Market Research, the global Video on Demand market was valued at USD 49.29 Billion in 2019 and is expected to reach USD 128.94 Billion by the year 2026, at a CAGR of 14.88%.
The movie theatre that has been on a complete lockdown since the quarantine has increased the market growth for the Video on Demand market. Next generation broadband and internet connection supported by high-technologies like 5G, Wi-fi 5 and Wifi-6 are the major drivers for the market. Smart TV’s and Smartphones usage amongst the consumers are majorly increasing the market size of the video content consumption. The participation of Artificial Intelligence and the Big Data Science in the video on demand has increased more chances to garner the attention of viewers and to provide more personalized experience among them.
According to the analyst, a survey done by Nokia mobile broadband index, more than 75% of the traffic comes from the video streaming. Also, the integration of the artificial intelligence on such platforms are providing the users with the video content of their choice which is making it more accessible and convenient. Industry giants like Netflix, Amazon Prime, Hulu and Rakuten are improvising and uploading the original movies and series which are catching a lot of attention from the viewers across the globe. Lockdown restrictions, new benefits from the providers and the less internet and subscription fees have skyrocketed the market size of Video on demand after 2019 and are expected to grow more in the forecast period.
The Global Video on Demand market is segmented by Product Type (Hoodies & Sweatshirts, Tops & T-Shirts, Jackets & Vests, Shorts, Socks, Surf & Swimwear, Pants & Tights, and Others), by Distribution Channel Type (Online Stores, Supermarkets/Hypermarkets, Retail Stores, Brand Outlets, Discounted Stores), by Sports (Soccer, Basketball, Baseball and Others), by End-User (Children, Men and Women). 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.
Further Key Findings From The Report Suggest:
- Due to the high presence of key players in the region like Netflix, Amazon, Alphabet Inc., Home Box Office (HBO) in the United States is increasing the market size.
- Canada is expected to show a high CAGR in the forecast period as per the report of Canadian Radio-television and Telecommunication Commission Monitoring report, 2019, there was a recorded traffic of more than 65% for internet-based video activities.
- Due to the diverse and largest population, India is anticipated to have a highest CAGR in the forecast period.
Key Participants include Amazon.com, Inc., Apple, Inc., Comcast Corporation, Facebook, Inc., Google LLC, Home Box Office, Inc., Iflix, Microsoft Corporation, Netflix Inc., Rakuten Inc., Sony Corporation, The British Broadcasting Corporation, The Walt Disney Company (Hulu, Hotstar), Viacom CBS and Zee Media Corporation (Essel Group).
For this report, Introspective Market Research have segmented the Global Video on Demand markets market on the basis of Region:
Regional Outlook (Revenue in USD Billion; Volume in Units, 2019-2025)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- Latin America
- Rest of LATAM