The global video-on-demand (VOD) market is estimated to be worth USD 47.25 billion in 2015 and is expected to reach USD 74.81 billion by 2020, at a CAGR of 9.63 percent. North America holds the major share of market with Asia-Pacific being the fastest growing region. The need to have control over viewership, and increasing demand to empower viewer and enhance video experience are driving factors of the market, whereas limited availability of content that results in limited choice for user and issues related to content licensing are constraining the VOD market.
Due to increasing use of Internet and digital satellite transmission of video content, the availability and application for VOD service has increased significantly in recent years, which ranges from entertainment to education and personal training. With the level of control and convenience provided to the user, a whole new video experience has been created by the service and the market is expected to grow at a high rate in the coming years.