Press Release

Video On Demand Market Thrives with Subscription-Based Platforms Getting Bigger

The Global Video on Demand Market is projected to grow at a CAGR of around 17.67% during the forecast period, i.e., 2024-30, cites Markntel Advisors in the recent research report. The market growth is attributed to the burgeoning adoption of smart devices as a result of advancements in internet services and accessibility to technology. Additionally, the flourishing popularity of subscription-based platforms to view series further raising the demands for the industry is extending the market growth.

Besides, the rising affordability of streaming devices and services with added features of access to video streaming and the ability to view the media from anywhere adds to the market value. Moreover, the constant upgradation in the content with new languages, diversified genres, etc., is extending the industrial expansion, further states the research report, “Video on Demand Analysis, 2024.”

Video On Demand Market Segmentation

The market is broadly fragmented on the basis of Type, Application, and Platform. Firstly, based on Type the market is spread across Subscription Video On Demand (SVOD), Advertising Video On Demand (AVOD), and Transactional Video On Demand (TVOD). Secondly, based on Application the market is segmented into Sports, Music, TV Entertainment, Movies, Education, and Other (Kid content). Finally, on the basis of Platform, the industry is distributed amongst Smartphones & tablets, Laptop & PCs, and Smart TV.

Subscription Video On Demand to Witness the Tremendous Growth, Among Other Types

Subscription Video on Demand (SVOD) is expected to acquire the largest market share in the forecast period, aided by the increasing interest of viewers leading to the rising number of subscribers adopting over-the-top (OTT) Platforms. Besides, with OTT platforms producing unique and attractive content limited to their respective platforms, consumers are increasing the subscription rate to keep up with the trending shows and movies to enjoy the available content, adding to the market revenue. Furthermore, subscription-based VoD being an easy in and easy out for the subscriber when needed further adds to the value of the market for its flexible advantage.

Extensive Presence of Key Players Rewards North America with the Golden Revenue Share

Globally, North America held the highest market share during the historical period, owing to the extensive presence of major key players in the region focusing on coming up with new advanced services for consumers. In addition, the diverse consumer group of the region, in combination with rising investments by leading players towards adopting advanced technologies such as cloud computing and AI, is propelling industrial growth. On the other hand, varying consumption of media and strengthening investment of numerous market participants are bound to propel the market in the Asia-Pacific region considerably.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Amazon Inc., Apple Inc., Netflix, Hulu LLC., Comcast network, Indeflix, HBO Home Entertainment Inc., Vudu Inc., Alphabet Inc., Vubiquity Inc, Joinyn Gmbh, AT & T Inc Corporation, Google LLC, Xumo, Vimeo Live, and Others are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the region?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping across various countries?
6. How have the buying behavior, customer in- inclination, and expectations from product manufacturers been evolving during 2019-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?