According to Stratistics MRC, the Global Video on Demand (VoD) Market accounted for USD 32.55 billion in 2018 and is expected to reach USD 161.77 billion by 2027, a CAGR increase of 19.5% during the forecasting period. Some of the main players examined in the Video on Demand (VoD) Market include Akamai, Amazon, Apple, Centurylink, Cisco, Comcast, Fujitsu, Google, HBO, Huawei, Hulu, Indieflix, Muvi, Netflix, Right-To-Win, Roku, Vubiquity, Vudu and Youtube.
The simplified access to highly-loyal data networks, vertical integration by social media platforms, and the proliferation of mobile computing devices are the main factors contributing to market growth. However, high bandwidth requirements and video content piracy risks are keeping the market from experiencing further growth. Video on Demand (VoD) Service enables clients to access different sorts of films and shows, regardless of time, including classic shows, films from various decades, multi-ethnic entertainment, news, sports, and commercials. Although its initial purpose was movie access, the increasing demand to watch popular TV programs including TV series and animated kids programs as per users' convenience led to the service providers expanding their offerings to include a differing set of content programs.
The Internet Protocol Television (IPTV) solution will likely have a massive demand as it is one of the safest and reliable approaches to subscribe to videos and other services. IPTV services include videos and interactive TV, along with the significant advantages is that an individual can stare at the television along with browsing the web. These services are managed in the same method as TV platforms are always constantly managed by the operators. The Quality of Service (QoS) is kept up through network management, bandwidth provisioning, and routing management. It is usually funded and supported by enormous telecom providers, who want to make a substitution product for digital cable and satellite services.
Due to its geographic location, Asia Pacific is predicted to receive a great deal of profit and overall growth during the forecast period, as it’s considered a large market with culturally and economically expanded clients who have varying content utilization patterns, content, and payment requests. China and Japan are contributing the most to market development. The proliferation of smart devices, broadband, and internet connectivity, are driving the market, which is augmented by the emergence of advanced technologies, such as 5G, 4G, developed payment infrastructure, and a dynamic local content ecosystem.
