Selbyville, Delaware, United States, November 5 2020 (Wiredrelease) Global Market Insights, Inc –:Digital revolution driven by mobile penetration, availability of relatable content and ceaseless internet connectivity will foster video on demand market outlook. Over the past few years, video-on-demand (VoD) has become increasingly popular. VoD refers to streaming of content over the internet, through applications called over-the-top (OTT) platforms.
OTT platforms enable content viewing at one’s convenience in terms of device, place and time which falls in contrast to the scheduled programmes aired on television. A sharp rise in the number of smartphone users streaming content online across the globe is boosting VoD development. According to the World Advertising Research Canter, around 2 billion people accessed internet only through their smartphones in 2019.
In a bid to offer optimum customer satisfaction, content providers are using subscription-based and hybrid revenue models as well as enhancing VoD offerings and services. The integration of technologies, such as AI and machine learning is enabling providers to deliver personalized content by tracking user preferences. Also, the ongoing COVID-19 pandemic has further bolstered the Video on Demand Market sector growth as the number of viewers watching content online has significantly increased with the shutdown of theatres and other entertainment areas.
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Estimates suggest that video on demand market will exceed USD 175 billion in terms of annual revenues by 2026. Internet Protocol Television (IPTV) is gaining momentum as it utilizes a private dedicated network to deliver more consistent service. IPTV uses internet to deliver TV programs and videos that are live or on-demand and provide users with the convenience of choosing a program they wish to watch anytime, anywhere along with the live TV options.
Rising health concerns resulting in increased awareness pertaining to fitness & well-being is also contributing towards the popularity of on-demand videos. The online training videos offers flexibility of working out in comfort of one’s household. It also saves a lot of money the time spent traveling to the gym. Video on Demand technology platform provider, InteliVideo, introduced a new package to its platform for health and fitness studios in 2019. The channel offers quick digital streaming solutions.
Advertisement-based revenue model is expected to showcase major growth on account of the rise in number of consumers using platforms like YouTube, Spotify and others. Platforms like YouTube offer free content to users and gain profits from advertisements that are played during the course of the content being played or watched. By customizing advertisements to reach a large number of users, along with the content providers and programs, platforms combine the marketing strategies of traditional broadcasting techniques to capture a wide range of user base globally.
The advent of 5G in developed regions like North America and Europe will augment the video on demand businesses in the coming years. A large number of companies worldwide are focusing on expanding their industry presence. For instance, Starz, which launched in Germany, France and the U.K. in 2019, is further expanding to more markets while Dplay by Discovery Inc. was launched in several markets including the Netherlands, Italy, Nordics and Spain in February 2019.
Disney Plus is also offering its service in Europe. HBO made available its Portuguese version in early 2019. Increasing competition among industry players to offer enhanced services will drive the Europe video on demand market trends.
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Table Of Content:
Chapter 5. Video on Demand Market, By Revenue Model
5.1. Key trends by revenue model
5.2.1. Market estimates and forecast, 2016 – 2026
5.3.1. Market estimates and forecast, 2016 – 2026
5.4.1. Market estimates and forecast, 2016 – 2026
5.5.1. Market estimates and forecast, 2016 – 2026
Chapter 6. Video on Demand Market, By Type
6.1. Key trends by type
6.2.1. Market estimates and forecast, 2016 – 2026
6.3.1. Market estimates and forecast, 2016 – 2026
6.4. Pay-TV VoD
6.4.1. Market estimates and forecast, 2016 – 2026
Chapter 7. Video on Demand Market, By Application
7.1. Key trends by application
7.2. Education & training
7.2.1. Market estimates and forecast, 2016 – 2026
7.3. Health & fitness
7.3.1. Market estimates and forecast, 2016 – 2026
7.4. Media & entertainment
7.4.1. Market estimates and forecast, 2016 – 2026
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