Global Video On Demand Market Overview 2024: Size, Growth Rate, and Segments

The video on demand global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Video On Demand Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size -
The video on demand market size has grown rapidly in recent years. It will grow from $109.85 billion in 2023 to $129.66 billion in 2024 at a compound annual growth rate (CAGR) of 18%.  The growth in the historic period can be attributed to internet penetration, smartphone and tablet adoption, content licensing agreements, shift in consumer preferences.

The video on demand market size is expected to see rapid growth in the next few years. It will grow to $255.48 billion in 2028 at a compound annual growth rate (CAGR) of 18.5%.  The growth in the forecast period can be attributed to global expansion, original content production, the convergence of entertainment, partnerships, and bundling. Major trends in the forecast period include vertical integration, globalization of content, interactive content experiences, ad-supported models, data-driven personalization.

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Scope Of Video On Demand Market
The Business Research Company's reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Video On Demand Market Overview

Market Drivers -
The surging demand for digital media devices is expected to propel the growth of the video-on-demand market going forward. A digital media device is any sort of instrument that records, processes, transmits, or displays digital information. The rise in digital media devices, such as smartphones, tablets, and smart TVs, is driven by increasing consumer demand for on-the-go entertainment and convenient access to digital content. VOD services offer a wide range of digital content, from movies to original programming, driving consumer investment in digital media devices for convenient access to favorite shows and movies via streaming platforms. For instance, in September 2023, according to a report published by ConsumerAffairs, a US-based consumer news and advocacy organization, about 97% of Americans owned a feature phone or smartphone in 2022, and future trends predict that the number of American smartphone users will increase to more than 364 million people by 2040. Therefore, the surging demand for digital media devices is driving the growth of video on demand.

Market Trends -
Major companies operating in the video-on-demand market are focusing on technological AI-based advancement such as AI-based streaming technology to ensure a smooth viewing experience across different devices and network conditions, enhancing user satisfaction and reducing buffering issues. These AI-based techniques are integrated into streaming platforms to enhance various aspects of content delivery, user experience, and content recommendation. For instance, in March 2024, Sportradar AG, a Switzerland-based sports technology company, launched Sportradar 4Sight, an AI-based streaming technology, to transform the presentation of the sport. The technology overlays ultra-fast data into live streams, delivering a continuous flow of engaging statistics that appear in real-time, from serve speed and ball bounces to total shots in each rally. This technology is engaging for the next generation of tennis fans, who want more immersive and personalized experiences.

The video on demand market covered in this report is segmented –

1) By Component: Solutions, Services
2) By Platform Type:  Smartphones, Tablets/Laptops, Smart TVs, Other Platform Types
3) By Business Model: Transactional Video on Demand , Subscription Video on Demand , Advertisement Video on Demand , Other Business Models,
4) By End-Users: Media, Entertainment, and Gaming, Travel and Hospitality, Education, Other End-Users

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Regional Insights -
North America was the largest region in the Video On Demand market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the video on demand market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Key Companies -
Major companies operating in the video on demand market are Netflix Inc, Paramount+, YouTube, Hulu, Disney+ Hotstar, Amazon Prime Video, Starz Inc., Apple TV+, Acorn TV, Max, Crunchyroll LLC, Vimeo Inc., Fandango Media LLC, Kaltura Inc., Tubi Inc, Mubi, MX Player, Crackle Plus LLC, BritBox, Kanopy, Dacast Inc., ESPN Inc., Discovery Plus, Rakuten TV, ViacomCBS Inc

Table of Contents
1. Executive Summary
2. Video On Demand Market Report Structure
3. Video On Demand Market Trends And Strategies
4. Video On Demand Market – Macro Economic Scenario
5. Video On Demand Market Size And Growth
…..
27. Video On Demand Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix