The global Video on Demand (VOD) Service Market research report 2029, as published by Data bridge Market Research, provides insights into the current global outlook and key regions, examining Major Players, Countries, Product Types, and end industries. It focuses on top players in the global market and categorizes the market based on several parameters.
This Video on Demand (VOD) Service market research report identifies the competitive landscape of industries, offering a comprehensive understanding of international competition. The study outlines the anticipated growth of the global market during forecast period. Compiled with a blend of static and dynamic perspectives, this research report captures the essence of the businesses views.
Global video on demand (VOD) service market was valued at USD 55.99 billion in 2021 and is expected to reach USD 120.02 billion by 2029, registering a CAGR of 10.00% during the forecast period of 2022-2029.
Top Companies in the Global Video on Demand (VOD) Service Market:
Netflix (U.S.), Amazon Inc., (U.S.), Google Inc., (U.S.), Akamai Technologies (U.S.), YouTube (U.S.), Apple Inc., (U.S.), Home Box Office, Inc. (U.S.), Cisco Systems, Inc. (U.S.), Roku Inc., (U.S.), iNDIEFLIX Group Inc (U.S.), Fandango (U.S.), Hulu, LLC (U.S.), Comcast (U.S.), Huawei Technologies Co., Ltd. (China), Fujitsu (Japan), CenturyLink (U.S.) Muvi LLC (U.S.), among others.
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Market Segmentation:
Delivery Technology
• Near Video on Demand (NVOD)
• Subscription Video on Demand (SVOD)
• Transactional Video on Demand (TVOD)
• Others
Application
• Entertainment
• Education and Training
• Network Video Kiosks
• Online Commerce
• Digital Libraries
• Others
Industry Vertical
• Healthcare
• Manufacturing
• Academia and Government
• Consumer Goods and Retail
• Hospitality and Tourism
• Telecommunications and IT
• Media and Entertainment
• Transport and Logistics
• Banking
• Financial Services and Insurance (BFSI)
• Others
Device Used
• Mobile
• PCs
• Tablets
• TV
Geographically, the detailed analysis of consumption, revenue, market share, and growth rate of the following regions:
– Middle East and Africa (South Africa, Saudi Arabia, UAE, Israel, Egypt, etc.)
– North America (United States, Mexico & Canada)
– South America (Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, etc.)
– Europe (Turkey, Spain, Turkey, Netherlands Denmark, Belgium, Switzerland, Germany, Russia UK, Italy, France, etc.)
– Asia-Pacific (Taiwan, Hong Kong, Singapore, Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia).
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Drivers:
Growing Adoption of Smart Devices and Increasing Mobile Data Subscriptions:
The widespread utilization of smart devices such as tablets, smartphones, and laptops, coupled with consumers' desire to access a diverse range of captivating entertainment options at their convenience, has facilitated the ease of consuming media content. The global video on demand market is witnessing growth attributed to improved affordability, the proliferation of high-speed internet connections, and heightened usage of these connections and services. Moreover, the surge in mobile data subscriptions, augmented utilization of high-speed data networks, and the incorporation of advanced features in smartphones and tablets are pivotal drivers poised to propel the global video on demand market during the forecast period.
The prevalence of flexibility and user-friendly features that contribute to a seamless customer experience is expected to further augment the overall market's growth. Additionally, the increasing trend of live streaming various events to mitigate large gatherings, the growing presence of local players and film studios, coupled with a strong preference for online streaming services over traditional ones, is anticipated to fortify the market's overall growth trajectory.
Opportunities:
Rise in Utilization of Analytics and Strategic Mergers:
The increasing use of analytics and artificial intelligence is forecasted to create lucrative opportunities, contributing to the accelerated growth rate of the video on demand (VOD) service market in the future. Furthermore, strategic mergers with local producers and film studios across different regions, particularly within the subscription video on demand (VOD) service model, present numerous growth prospects within the market.
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