Video on demand refers to the technology utilized in delivering video content like movies and television shows directly to customers for instant viewing regardless of the broadcast timelines. Video on demand includes both the paid and free programs broadcasted from satellite TV, cable companies, telephone as well as streaming services on the internet. Video on demand offers a wide range of programs including educational, sports, films, and entertainment programs. Video on demand is a dynamic feature offered by internet protocol and facilitates users with a wide range of available videos.
The surging adoption of smartphones all across the globe is one of the major factors driving the growth of the global video on demand (Vod) market. Moreover, the unlimited scrolling of online content is another key factor complementing the growth. There are various benefits offered by video-on-demand platforms like personalized content, a wide range of varieties, affordable cost, better connectivity, convenience, and several others, which in turn are boosting the demand for video-on-demand platforms. The manufacturers and service providers are boosting their investments to innovate technologically advanced methods to deliver premium quality entertainment programs. The emergence of Covid-19 has significantly propelled the popularity of video-on-demand platforms and thereby it is likely to dominate the global market in the forthcoming years.
The global video on demand (Vod) market can be segmented into end-user, organizational size, solutions, revenue model, component, and region.
By end-user, the market can be segmented into education, travel, hospitality, gaming, media, entertainment, and others.
By organizational size, the market can be segmented into large enterprise and small-medium enterprise.
By solution, the market can be segmented into internet protocol television, over-the-top television, and pay-TV video on demand.
By revenue model, the market can be segmented into advertising-based, subscription-based, transaction-based, and others.
By component, the market can be segmented into services and solutions.
North America accounts for the largest share in the global video on demand (Vod) market due to the high consumption of media content in the region. Moreover, the presence of high-speed network infrastructure coupled with the growing use of electronic devices that support digital media will further accentuate the growth of the regional market.
Some of the significant players in the global video on demand (Vod) market are Boeing Corp., Raytheon Company, Lockheed Martin Corp., General Dynamic Corp., Cisco Systems Corp., CA Technologies, BAE system corp., DXC technology Ltd., Intel Corp., IBM Corp., The Walt Disney Company, HBO Max, Hulu, LLC., Vudu, Sky UK Limited, Dish Network, Comcast Network, Google, LLC., and Apple, Inc. To cite, Netflix, Inc. in July 2019 introduced a new mobile plan in India. The company invested in Indian movies and shows to improve its reach in India.