Video On Demand Market (2024-2033) | Insights, Industry Outlook, Growing Trends And Top Key Players

Overview and Scope
Video on demand (VOD) is a media distribution system that enables users to access videos, TV shows, and films on demand without traditional broadcasting schedules, offering flexibility and convenience in content consumption. VoD services offer flexibility in terms of when and where users can watch content.

Sizing and Forecast
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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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

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.

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Major Driver Impacting Market Growth
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.

Key Industry Players
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

The video on demand market report table of contents includes:

1. Executive Summary

2. Video On Demand Market Characteristics

3. Video On Demand Market Trends And Strategies

4. Video On Demand Market – Macro Economic Scenario

5. Global Video On Demand Market Size and Growth

32. Global Video On Demand Market Competitive Benchmarking

33. Global Video On Demand Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Video On Demand Market

35. Video On Demand Market Future Outlook and Potential Analysis

36. Appendix

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