Video on Demand Market is estimated to grow with a CAGR of 11.5% during the forecast period
Video on Demand Market size was valued at USD 59.62 billion in 2020 and expected to expand to USD 177.35 billion at a compound annual growth rate (CAGR) of 11.5%. Video on demand (VoD) is an internet-based service that allows users to watch live streaming concerts or performances, as well as music video content from a variety of digital libraries, and to select the temporal order in which they see information. Traditional television sets are being transformed by video on demand (VoD) services, which provide clients with unique features such as high-quality video and exclusive video material on demand over broadband or mobile networks.
The report "Global Video on Demand Market, By Business Model (TV Video, On Demand Internet Protocol Television (IPTV), Over The Top Service (OTT)), By Delivery Channel (Transactional Video On Demand (TVOD), Subscription Video On Demand (SVOD), Advertisement Video On Demand (AVOD), And Hybrid (SVOD AVOD)), By Application (Entertainment, Education and Training, Network Video Kiosks, and Others (Online Commerce & Digital Libraries)) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030’’
Key Highlights:
· In 2021, Valhalla Media has announced the introduction of ARIS, a new livestream and video-on-demand platform for performing arts groups, educational institutions, and independent artists, which will be available in early December.
· In 2021, Following a merger deal with Digital World Acquisition Corp., the former president will launch Trump Media & Technology Group, which will result in the company becoming a publicly traded company, subject to regulatory and stockholder approval. Trump Media & Technology Group will be valued at $875 million at the outset of the transaction.
Analyst View:
The worldwide video on demand (VoD) business has benefited greatly from the increasing use of the internet in all parts of the world. Due to numerous online facilities and the availability of streaming, there has been an increase in demand for high-quality internet services via mobile networks or landline lines. The growing popularity of video on demand services is due to the availability of high-bandwidth and fast-paced internet connections. The expansion of the global video on demand market will be aided by the adoption of multiscreen services for content streaming and the increasing uptake of smartphones in the coming years.
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Key Market Insights from the report:
The Global Video on Demand Market size was valued at USD 59.62 billion in 2020 and expected to expand to USD 177.35 billion at a compound annual growth rate (CAGR) of 11.5%. The global video on demand market is segmented into business model, delivery channel, application, and region.
· Based on Business Model, Global Video on Demand Market is segmented into TV Video, On Demand Internet Protocol Television (IPTV), Over The Top Service (OTT).
· Based on Delivery Channel, Global Video on Demand Market is segmented into Transactional Video On Demand (TVOD), Subscription Video On Demand (SVOD), Advertisement Video On Demand (AVOD), And Hybrid (SVOD AVOD).
· Based on Application, Global Video on Demand Market is segmented into Entertainment, Education and Training, Network Video Kiosks, and Others (Online Commerce & Digital Libraries).
· By Region, the Global Video on Demand Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Global Video on Demand Market:
The key players in the video on demand (VOD) market include Amazon Incorp., Hulu LLC corporation, Verizon Communication LLC, Apple Incorp., Netflix Incorp., Telefonaktie bolaget LM Ericsson (Ericsson Television), YouTube, Comcast Corp, Hotstar and Canalplay.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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