Global Video-On-Demand Market Report 2023: Sector is Expected to Reach $170.9 Billion by 2027 at a CAGR of 16.2%
DUBLIN, May 29, 2023 /PRNewswire/ -- The "Video-On-Demand: Solutions and Global Markets" report has been added to ResearchAndMarkets.com's offering.
The global market for video on demand was estimated to be $70.6 billion in 2021. It is projected that the video-on-demand market will grow at a CAGR of 16.2% to reach $170.9 billion by the end of 2027.
Some of the major factors driving the growth of the market for video on demand include growing internet penetration, increasing use of smartphones and smart TVs, rising trend of cord shaving and cord cutting, and innovation in streaming platforms. However, video-on-demand market growth is being hampered by increasing video piracy.
Video on demand (VoD) is a media distribution system that enables users to stream video content at any time for their convenience. With video-on-demand service, viewers can select a video to view from a central server. This capability of video on demand eliminates the constraints of the traditional broadcasting system. Because streaming a video uses a lot of data and takes up a significant amount of bandwidth, many large video-on-demand providers use a content delivery network (CDN) to quickly deliver high-quality streaming.
Over the last few years, video-on-demand streaming services have grown in number and popularity. Across many countries, consumers have dropped traditional television providers and instead entirely rely on streaming services for their television entertainment. The most popular use of video on demand is for entertainment purposes, but it is also used as a system for distributing educational and even fitness video content.
IPTV has become popular over the years because of its features that enable subscribers to watch not only TV shows on their favorite channels but also live broadcasts of their favorite shows and movies, as well as live games such as cricket, football, and so forth.
The SVoD model gives users unlimited access to the entire library of content for a recurring fee, which could be charged weekly, monthly or yearly. SVoD is the most common form of video on demand and has the highest share of the market. Subscription video on demand (SVoD) was valued at $33.6 billion in 2021 and is forecast to reach $98.4 billion by the end of 2027.
Media and entertainment represent the largest segment of the videoon- demand market. It includes movies, TV shows, and other types of entertainment content such as music videos and gaming. The media and entertainment segment was valued at $34.0 billion in 2021 and is forecast to reach $90.5 billion by the end of 2027, with a CAGR of 18%.
Key Topics Covered:
Chapter 1 Introduction
Chapter 2 Summary and Highlights
Chapter 3 Market Overview
Chapter 4 Market Dynamics
Chapter 5 Market Breakdown by Solution
Chapter 6 Market Breakdown by Monetization Model
Chapter 7 Market Breakdown by Vertical
Chapter 8 Market Breakdown by Device
Chapter 9 Market Breakdown by Region
Chapter 10 Patent Analysis
Chapter 11 Competitive Landscape
Chapter 12 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/huxdyl
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