The global video-on-demand (VOD) market is expected to post a CAGR of over 11% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the market is rising adoption of mobile computing devices and applications. The rising adoption of smartphones and tablets has increased the target consumers base for vendors that offer VOD services. The availability of high-speed internet and smartphone applications has improved access to VOD services. Initially, vendors offered VOD services through websites. However, the increasing use of mobile computing devices encouraged them to develop mobile applications which can stream videos. The use of such applications simplifies the process of payments. They also collect the personal details of consumers, which can be used to retain them through targeted advertising. Hence, the number of people consuming VOD services through their mobile computing devices is increasing.
This market research report on the global video-on-demand (VOD) market 2019-2023 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the emergence of live video streaming solutions and platforms as one of the key emerging trends in the global video-on-demand (VOD) market:
Global video-on-demand (VOD) market: Emergence of live video streaming solutions and platforms
Live video streaming solutions provide consumers convenient access to video content. Platforms such as Ustream and Livestream have become more popular among consumers. TV channels, especially news and sports channels, also offer live streaming services to their consumers through their online platforms. News channels such as BBC and CNN provide live video streaming through their respective online platforms, BBC iPlayer, and CNNgo. ESPN also provides live streaming options through its online platform called WatchESPN. The popularity of online video streaming is increasing among consumers due to the flexibility it offers users. Vendors that offer VOD services are expected to offer live video streaming services during the forecast period.
Since 2008, vendors that offer VOD services have made significant investments to develop new and advanced smart TVs. Initially, video streaming devices were limited to modern set-top boxes that connected TVs to the Internet. However, several new and advanced video streaming devices have been developed and launched in the market, such as Google Nexus Player, Apple TV, and Amazon Fire TV, says a senior analyst at Technavio for research on media and entertainment services.
Global video-on-demand (VOD) market: Segmentation analysis
This market research report segments the global video-on-demand (VOD) market by business segment (SVOD, AVOD, and TVOD) and geographical regions (APAC, EMEA, and the Americas).
The SVOD segment led the market in 2018 with a market share close to 55%, followed by AVOD, and TVOD respectively. However, during the forecast period, the AVOD segment is expected to register the highest incremental growth followed by the SVOD segment.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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