Global Video on Demand (VD) Market 2023-2030

Global Video on Demand (VD) Market 2023-2030

The global video-on-demand (VOD) market is anticipated to grow at a considerable CAGR of 17.5% during the forecast period (2023–2030). The market's growth is attributed to factors such as increasing demand for streaming services. The COVID-19 raised demand for video streaming services as individuals spent more time at home and looked for entertainment options. Streaming services such as Netflix, Amazon Prime, and Disney+ resulted in significant increases in consumers throughout COVID-19.

Segmental Outlook

The global video on demand market is segmented based on model, platform, and application. Based on the model, the market is segmented into subscription video-on-demand (SVoD), transactional video-on-demand (TVoD), and advertisement-based video-on-demand (AVoD) . Based on platform, the market is segmented into smartphones, tablets, smart TVs, laptops, and PCs. Further, based on application, the market is segmented into entertainment, education and training, network video kiosks, online commerce, and digital libraries. Among the models, the subscription video-on-demand sub-segment is estimated to contribute to the growing demand for SVOD is a video-on-demand advertising approach utilised by platforms such as Netflix and Disney+ that provides users with access to a fixed service cost for a particular period of time.

The subscription sub-segment is anticipated to hold a prominent share of the global video-on-demand market.

Among the models, the subscription sub-segment is expected to hold a prominent share of the global video-on-demand market due to the growing demand for growing popularity of video-on-demand services. It is a growingly popular way for people to view films, TV series, and other videos, and it allows them to watch what they want when they want. Subscription video on demand allows consumers to watch a comprehensive catalogue of content for a fixed charge without worrying about per-title rental fees or subscription constraints. For instance, in May 2023, Vubiquity, an Amdocs company, announced that it had been selected by Spanish satellite communications operator Hispasat to bring compelling new digital content, including broadcast linear channels and subscription video on demand (SVOD), to its Wave OTT Plus ISP customers. In August 2022, YouTube, owned by Alphabet Inc., intends to develop an online marketplace for streaming video services. Technology that allows video content, such as films and television series, to be sent directly to individual customers for immediate viewing.

Regional Outlook

The global video on demand market is further segmented based on geography, including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East and Africa, and Latin America). Among these, the Asia-Pacific region is anticipated to grow at a significant rate over the forecast period, owing to the region's emerging status as the newest and fastest-growing sector for SVOD. SVOD is rapidly developing into a global phenomenon, with millions of users around the globe subscribing to services such as Netflix and Amazon Prime. Several video streaming platforms offer TV series and films for downloading and viewing on devices that have internet access. As a result, consumers are able to view content on their phones, laptops, and tablets at any time and at any place they desire.

The North American region is expected to hold a prominent share of the global hairbrush market.

The North America region is expected to hold a prominent share in the video on demand market, owing to the increasing popularity of OTT content, that simultaneously liberates US citizens from cable, regional constraints, and programming schedules while also significantly influencing the way video is offered for purchase, created, and watched. Usage is rising as a result of limited genre alternatives, package flexibility, increasing device availability, internet penetration, and overall cheaper pricing. The increased percentage of OTT video viewing time, combined with rising income numbers, indicates the country's evolving entertainment scene. OTT is familiar to around 64 million homes in the US, with the average home viewing value projected to be around 86 hours of OTT material per month. Furthermore, nearly sixty-six percent of OTT content genres, mainly connected to sports, education, and entertainment, reach households via Wi-Fi, with OTT content genres primarily related to sports, education, and entertainment experiencing significant growth. For instance, in June 2022, Netflix was the most popular video streaming platform in May 2021, with subscriptions in 62% of households in the US.

Market players' outlook

The major companies serving the global video-on-demand market include Akamai Technologies Inc., Apple Inc., Cisco Systems Inc., Comcast Corp., and Dacast Inc. and others. The market players are considerably contributing to market growth through the adoption of various strategies, including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in January 2023, Apple, Inc. will provide video-on-demand and video streaming services that can be accessed via Apple TV, Mac, Apple Watches, iPad, and iPhone. The company offers a range of streaming services from other television networks such as Showtime, HBO, Smithsonian Channels, Starz, CBS, Epix, and others. In March 2022, Apple Inc. rolled out Studio Display and Mac Studio to provide a digital experience to users with the studio. The solution was built with the M1 Ultra, the most powerful chip, and the M1 Max for personal computing.

The report covers

Market value data analysis for 2022 and forecast to 2030

Annualised market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions

Key companies operating in the global hairbrush market Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market entry and market expansion strategies.

Competitive strategies by identifying ‘who stands where’ in the market.