What Has Been the Growth of the Video On Demand Market So Far?
The video on demand market has seen considerable growth due to a variety of factors.
• In recent times, the video on demand market has seen a speedy expansion. The market size is projected to rise from $129.66 billion in 2024 to $153.97 billion in 2025, registering a compound annual growth rate (CAGR) of 18.7%.
The growth observed during the historic period is primarily due to increased internet connectivity, the widespread adoption of smartphones and tablets, content licensing arrangements, and a shift in consumer tastes.
What Are the Future Growth Projections for the Video On Demand Market?
The video on demand market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for video on demand is set to experience a swift expansion in the coming years, reaching $302.39 billion by 2029 with a compound annual growth rate (CAGR) of 18.4%.
The growth projected in this forecast period is linked to factors including global expansion, the production of original content, the merging of various entertainment forms, partnerships, and content bundling. Key tendencies expected throughout the forecasted timeline encompass vertical integration, content globalization, interactivity in content experiences, ad-supported models, and personalization driven by data.
What Are The Core Factors Supporting Growth In The Video On Demand Market?
The escalating need for digital media devices is anticipated to propel the video-on-demand market's expansion in the future. Digital media devices, which include tools that record, process, broadcast, or present digital data, are on the rise. This surge is primarily due to the growing consumer appetite for mobile entertainment and easy entry to digital content. Video-on-demand services bring a vast selection of digital content, encompassing films and original productions, inducing consumer investment in digital media devices for convenient streaming. For instance, a report by ConsumerAffairs, a US-based consumer news and advocacy organization, revealed in September 2023 that approximately 97% of Americans possessed a feature phone or a smartphone in 2022. The report also projected an increasing trend in American smartphone users, expected to exceed 364 million individuals by 2040. Hence, the escalating demand for digital media devices is fuelling the video-on-demand market's growth.
What Are The Major Segments Within The Global Video On Demand Market?
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
Subsegments:
1) By Solutions: Video Content Management, Video Streaming Solutions, Video Delivery Solutions, Video Encoding Solutions
2) By Services: Cloud-Based Services, Subscription-Based Services, Advertising-Based Services, Pay-Per-View Services
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What Trends Are Shaping The Video On Demand Market?
The principal businesses in the video-on-demand market are emphasizing on AI-powered technological improvements, such as AI-enabled streaming technology, to facilitate seamless viewing on various devices and network situations, improving user satisfaction and decreasing buffering issues. These AI-empowered techniques are incorporated into streaming platforms, enriching multiple factors of content provision, user interaction, and content suggestion. For example, Sports technology firm Sportradar AG, based in Switzerland, released Sportradar 4Sight, an AI-enhanced streaming technology, in March 2024, revamping the manner sports are displayed. The technology overlays instantaneous data onto live streams, delivering a constant stream of engaging statistics in real-time, from serve speed and ball bounces to the total number of shots in each rally. This technology is captivating for the upcoming generation of tennis enthusiasts who seek more immersive and personalized experiences.
Who Are the Key Players In The Video On Demand Market?
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
What Is The Most Dominant Region In The Video On Demand Market?
North America was the largest region in the video on demand market in 2024. 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.
