Trends
VoD market to reach USD 444.29B by 2032 at 13.5% CAGR: Polaris
The global video on demand (VoD) market size and share was valued at USD 144.57 billion in 2023 and is projected to reach USD 444.29 billion by 2032, with a CAGR of 13.5% from 2024 to 2032.
Video on demand, also known as VOD, is a content distribution method that gives you access to TV series and movies anytime you want. In core, it offers you total control over how you watch films on your computer, smartphone, TV, or other devices. Also, VOD doesn’t require a cable or satellite connection, unlike traditional television. As long as you have the necessary internet capacity, you can watch videos. This enables you to control when to play, pause, fast-forward, or rewind a movie.
Moreover, VoD technology is also being used more and more at educational institutions to offer flexible and quick access to training materials, lectures, and educational resources. VoD solutions are also used in corporate environments for knowledge exchange, internal training, and onboarding. As a result, the video on demand (VoD) market demand is expanding.
Fundamental Stats from the Report
- The global market for video on demand was valued at USD 144.57 billion in 2023.
- The market is expected to grow at a 13.5% compound annual growth rate (CAGR) during the forecast period of 2024-2032.
- The embedded finance market size is anticipated to grow to 444.29 billion by 2032.
Key Findings from the Report
The growth of the video on demand industry is primarily driven by the increased demand for digital media devices, the availability of high-speed internet for remote media access, and the increasing use of mobile phones due to the popularity of social media platforms.
The video on demand (VOD) market analysis is mainly segmented by content type, offering type, platform type, monetization model, vertical, deployment model, and region.
North America dominated the market with the largest share in 2023.
Video on Deman (VoD) Market Key Players
- Amazon
- Apple
- Comcast Corporation
- Flicknexs
- Fox Corporation
- Indieflix
- Lionsgate
- Netflix
- Paramount Global
- Reliance Jio
- Sony
- The Walt Disney Company
- Warner Bros Discovery
- Webnexs
Important Market Developments
Growth Drivers:
Media consumption has become more convenient for people because of the rising popularity of smart gadgets. More and more customers are looking for easy access to a wide range of entertainment choices.
Different subscription plans meet the demands of different users and provide more affordable solutions than standard subscriptions. These services’ adaptability and user-friendly experiences, together with the rising preference for localized content and online streaming services over traditional ones, contribute to the expansion of video on demand (VoD) market growth.
Trends:
VoD services are essential for the distribution of information and entertainment since digital platform adoption and technology improvements are major drivers. This need goes beyond traditional media and affects the corporate, healthcare, and education sectors. Video on demand (VoD) market demand is growing as more sectors recognize the power of video for engagement and communication, reshaping the way information is disseminated.
Challenges:
Increased worries about the privacy of video content provide a serious obstacle for the video on demand (VoD) market. Concerns over the security and privacy of user data are growing along with the use of videos on demand. Users trust platforms that hold sensitive data, yet the possibility of misuse, data breaches, or illegal access is a major concern for the growth of the video-on-demand (VOD) sector.
Regional Insights
North America: VOD services and solutions are vital in the US, offering a range of content delivery models to fit various customer tastes. Subscription-based streaming services like Amazon Prime Video, Netflix, and Hulu are famous for delivering a broad range of on-demand content for a monthly fee.
Asia Pacific: The expansion of the video on demand (VoD) market in Asia Pacific is mostly due to a sizable clientele and a rise in mobile internet users in populated nations. End users’ growing demand for sports, music, TV entertainment, and other content has caused global firms in the industry to increase their presence in this space. GlobeNewswire
