In terms of revenue, the global video on demand market is estimated to produce opportunities worth US$73.90 bn by the end of 2024.
Video on Demand is a fast growing popular trend that is sweeping the movie watching nation. Owing to the rising ubiquity of smartphones and upgraded broadband internet networks, the concept of video on demand (VOD) has gained strong popularity.
Market Research Hub (MRH) has announced the inclusion of study to its wide repository, which gives readers a clear perspective of the Video on Demand market current scenario as well as future growth prospects. The study is titled as “Video on Demand Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2024”, which analyses the market’s growth in terms of revenue in US$ Million and in terms of volume in thousand units across different geographical regions.
Regions highlighted in this study are Asia Pacific, North America, Middle East & Africa, Latin America and Europe.
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According to the analyst evaluation, the demand in the global video on demand market will bourgeon at a CAGR of 9.3% during the forecast period of 2017 to 2024. In terms of revenue, the global video on demand market is estimated to produce opportunities worth US$73.90 bn by the end of 2024, substantially more than the market’s evaluated worth of merely US$39.63 bn as of 2017.
Video on demand services enables users for streaming and downloading of a wide range of digital contents. Presently, the most prominent driver of the video on demand market is the possibilities of the content to reach a wider range of audiences with any smart electronic device, offering enhanced viewer experience, and providing for time-shift viewing.
The growing improvements in the high-speed network for streaming of videos is increasing the adoption of on-demand services.
Initially, the report presents an executive summary which focuses on the essence of the market together with an introduction that offers the definition as well as taxonomy. For the deeper understanding, a detailed qualitative assessment has been covered in this research report that delivers value by offering weighted analysis on restraints, drivers, trends and opportunities present in the global market for video on demand.
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Further, the report includes segmental analysis on the basis of business model, content and above-mentioned geographies. In terms of geography, it has been analyzed that North America and Europe continue to be the most lucrative regions in this market.
However, Asia Pacific video on demand market is poised for an above-average CAGR of 9.7% during the forecast period of 2017 to 2024. Transactional video on demand (TVoD), subscription video on demand (SVoD), advertisement video on demand (AVoD), and hybrid (SVoD+ AVoD) are the major business model in this particular market.
Considering the various facets of the market, service providers are offering unique features such as unlimited access to content, and high-quality videos to increase the subscriber base. This will help them to gain a competitive edge in the market.
At present, the major players functioning in video on demand market include YouTube, LLC, Amazon.com, Inc., Telefonaktiebolaget LM Ericsson (Ericsson Television), Home Box Office, Inc., Hulu LLC, iTunes (Apple, Inc.), Netflix, Inc., Verizon Communication, LLC, maxdome GmbH, and Canalplay.
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