Published : 3 years ago, on 13/08/2021

The ease of viewing video from anywhere at any point of time, increased penetration of smart devices, high-speed connectivity, and affordability are all projected to fuel expansion of the global subscription video on demand (SVoD) market. The demand for video on demand services has been fuelled by the rapid proliferation of high-speed internet networks in developing countries. Subscription Video on Demand (SVoD) is a fee-based subscription service that gives customers unrestricted access to streaming video material for a certain length of time. Customers have complete control over the material they wish to see, thanks to SVoD. They have control over when the programme begins, and when it is paused. They can also decide on when to pause, rewind, or fast forward the video. Such benefits are likely to drive global subscription video on demand (SVoD) market in the forthcoming years. High-quality entertainment is available on demand, at any place and at anytime, straight on the television set of customers, thanks to this service. TVPlayer, Hulu Plus, Now TV, Netflix, Amazon Video, and many other SVoD providers are examples. End-users have been lured to these services because of their diverse content, which includes movies, web series, and sports.

The growing popularity of live streaming shows has paved the path for expansion of the global subscription video on demand (SVoD) market in the near future. Users may watch, enjoy, and share live events on a live video streaming network known as live streaming. As per studies, viewers are more likely to be engaged in watching live streaming than static material, making it a strong tool to provide immersive entertainment. Netflix Inc., Amazon Inc., and Hulu LLC are some of the leading players in the global subscription video on demand (SVoD) market.

Transparency Market Research (TMR) has produced a thorough study on the global subscription video on demand (SVoD) market using sophisticated research methodologies. During the projection period, from 2018 to 2026, analysts at TMR predict that the market will expand at a strong rate.

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Driven by Canada and the US, North America Market to Offer Promising Growth Opportunities

The global subscription video on demand market is expected to be dominated by North America, with Europe following closely behind. The US and Canada are likely to drive the subscription video on demand industry in North America, thanks to the presence of large companies in both countries.  Due to the growing demand for a range of content in North America, there are a considerable number of cord-nevers and cord-cutters. In addition, as per Cisco VNI’s Global Mobile Data Traffic Forecast, speed of internet in North America was 13.7 Mbps in 2016, which was the highest amongst the regions. As a result, users would be able to access the content sans any trouble. In addition to that, the territory has the highest number of connected devices on which this material may be seen, thereby likely to boost the expansion of the North American subscription video on demand market in the years to come.

Advancement in Digital Technology to Pave Way for Rapid Growth of the Market

The digital video consumption platforms have been altered as a result of advancements in digital technology. Currently, video on demand services may be accessed via a variety of platforms, including smart TVs, mobile phones, and tablets. Furthermore, as the number of viewers grows, need for tailored content to manage and pick viewing as wanted has resulted in widespread acceptance of video on demand systems, which is anticipated to continue in the future. To improve the viewing experience, video on demand service providers are focusing on improving delivery technology. Besides, with the growing popularity of this platform, more advertisers are shifting towards it for the promotion of their products. This factor has led to the emergence of Advertisement Video on Demand in the market. Furthermore, as network speeds for digital transmission get better, providers of video on demand service are able to provide high-definition programmes to users at a quicker streaming rate.

The proliferation of mobile phones for digital video streaming has increased as mobile broadband coverage has improved. Furthermore, companies such as YouTube, LLC and Netflix, Inc. have launched numerous mobile TV apps that have boosted the digital content consumption via mobile devices. This is likely to assist in the expansion of the global subscription video on demand market. Customers also choose content service providers like Hulu and Netflix because they provide competitive prices and a wider selection of material. The information shared in this review is based on a TMR report, bearing the title, “Subscription Video on Demand Market (Content Type – Entertainment, Sports, TV Commerce, Education, and Information; Subscription Model – Fixed Subscription Model, Pay-As-You-Go Subscription Model, and Premium Member Subscriptions) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026

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