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Video on Demand Market Size, Share, and Analysis, By Monetization Model (Advertising-based, Subscription-based), By Component (Solutions {Pay TV, IPTV, OTT Services, Others}, Services), By Delivery Technology (Subscription Video on Demand (SVOD), Near Video on Demand (NVOD), Transactional Video on Demand (TVOD), Others), By Application (Online Commerce, Entertainment, Network Video Kiosks, Education and Training, Digital Libraries, Others), By Industry Vertical (Manufacturing, Healthcare, Academia and Government, Consumer Goods and Retail, Telecommunications and IT, Media and Entertainment, Financial Services and Insurance (BFSI), Hospitality and Tourism, Transport and Logistics, Banking, Others), By Device Used (Mobile, Tablets, PCs, TV) and Regional Forecasts, 2022-2032
Video on Demand Market size was USD 52.43 billion in 2021 and projected to grow from USD 72.2 billion in 2023 to USD 310.7 billion by 2032, exhibiting a CAGR of 17.6% during the forecast period.
Video on demand is a technology that permits people to watch movies/show on demand and this technology permit customers to watch shows in real-time, without worrying about broadcast schedules. Video on demand refers to the repository of a movie/shows in a compact format, which is then circulated to the customer upon request. Video on demand is becoming more popular due to the leisure and ease of convenience of customers.
Video on Demand Market is expected to reach USD 310.7 billion, growing at a CAGR of 17.6% during forecast period owing to the rising smartphone usage which is expected to boost the growth of the market. The presence of low-cost cloud platforms and the growing acceptance of services like Netflix and Amazon Prime is expected to boost the growth of video on demand market. The ease of availability of cloud platforms and increasing internet penetration are expected to boost the growth of video on demand market.
Video on Demand Market is classified based on the Component into Solutions {Pay TV, IPTV, OTT Services, Others}, Services. Solutions segment is expected to dominate the market in the forecast period. The use of video-based solutions and services has increased due to the growing popularity of video streaming. Internet Protocol Television (IPTV) is a safe method of subscribing to videos services which include interactive television and on-demand videos. IPTV aids in permitting to watch TV and simultaneous surfing of internet by customers.
Video on Demand Market is classified based on the Application into Online Commerce, Entertainment, Network Video Kiosks, Education and Training, Digital Libraries, Others. Entertainment segment is expected to dominate the market in the forecast period due to the high shifting of people to video-on-demand services for the entertainment purpose. The acceptance of people to view movies through the platforms like Hulu, Netflix, and Amazon Prime is expected to boost the growth of the segment in the video on demand market.
Increasing Usage of Smart Devices is Expected to Boost the Growth of the Market
The popularity for online media consumption has increased in the recent past due to the internet connectivity, advancements in technology like introduction of 4G and 5G have boosted the growth of the market. The utilization of online services has increased by the usage of mobile devices rather than desktop computers which is easy and convenient thereby, having positive impact on the growth of the market. Increasing use of smartphone is expected to drive demand for data usage having a positive impact on the acceptance of online video consumption. Various new OTT platforms have emerged which provide content and are expanding to provide entertainment for customers through online channels.
High Acceptance of Video on Demand Platforms is Expected to Boost the Growth of the Market
Customers opting for video on demand services have increased access to a various subscription options, by enabling customers to select videos from the catalogue and is less expensive than a normal subscription, therefore, having value for money which is expected to boost the demand for the growth of market. The ease of use and uninterrupted experience of customers is expected to boost the growth of the market during the forecast period. The growing preference for online streaming services by the customers and increasing popularity of movie studios & local players is expected to boost the growth rate of the video on demand (VOD) market.
Stringent Regulations May Restrain the Growth of the Market
The extensive licensing needs and complex government regulations is expected to restrain the growth of the video on demand (VOD) market in the forecast period.
Recent Developments:
Video on Demand Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Asia Pacific dominated the market in 2021 due to the presence of large market with diverse cultures and economically varied population having interest in viewing various contents patterns as per the content demand and based on the payment. The increased usage of smart devices having internet connectivity, and the growing advancements in technologies like 5G are expected to boost the growth of the market.
The COVID-19 outbreak had resulted in the economic downfall. Several countries had imposed lockdowns and applied travel restrictions to control the spread of the virus. The COVID-19 pandemic has created increased demand for the usage of smartphones, the necessity of internet has grown and there is a rise in broadband connections seen. Several restrictions were applied for the closing of movie theatres which had resulted in increased usage of digital platforms. Covid-19 pandemic had a positive impact on the growth of the Video on Demand Market.
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ATTRIBUTE |
DETAILS |
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Study Period |
2018-2032 |
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Base Year |
2022 |
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Forecast Period |
2021-2032 |
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Historical Period |
2019-2021 |
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Growth Rate |
CAGR of 17.6% from 2022-2032 |
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Unit |
Value (USD Billion) |
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Segmentation |
Main Segments List |
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Monetization Model |
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Component |
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Delivery Technology |
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Application |
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Industry Vertical |
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Device Used |
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By Region |
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Video on Demand Market size was estimated at USD 52.43 billion in 2021 and is expected to reach USD 310.7 billion in 2032.
Video on demand is a technology that permits people to watch movies/show on demand and this technology permit customers to watch shows in real-time, without worrying about broadcast schedules. Video on demand refers to the repository of a movie/shows in a compact format, which is then circulated to the customer upon request.
Solutions and Entertainment segment accounted for the largest Video on Demand market share.
Key players: Facebook, Inc., Netflix, Inc., Amazon.com, Inc., Youtube, Apple, Inc., Verizon Communications Inc., Google, Hulu LLC, AT&T, Inc., Comcast Corporation, Ericsson and Other Prominent Players are the key players in the Video on Demand Market.
Increasing Usage of Smart Devices and High Acceptance of Video on Demand Platforms are the factors driving the Video on Demand market
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