Video on Demand in Hospitality Market by Solution (Pay TV, IPTV, and OTT), by Service, by Delivery Model, by User type, by Revenue Model, and by Region - Global Forecast to 2021
The VOD in hospitality market to grow from USD 6.89 billion in 2016 to USD 19.11 billion by 2021, at a CAGR of 22.6%. OTT solutions can be integrated with existing video on demand systems so as to streamline the management of streaming VOD.
The integration of over the top solution allow users to watch movies videos, and TV content through Internet and without a subscription of traditional cable or satellite pay-TV services such as Comcast and Time Warner Cable. Moreover, the OTT services are also being spread over the other communication modes, such as audio and video.
The speedy growth of media and entertainment integration is also driving the VOD market.
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Pay TV is also known as the subscription-based TV service. It provides both analog and digital cable services through digital and internet-based TV.
It is based on the concept of paying a subscription fees to watch content along with providing interactive user experience. It is expected that in the upcoming pay TV will grow extensively in the APAC region due to the high adoption of technologies in the luxury hotels and restaurants.
APAC is growing at the highest rate in comparison to other regions. Moreover, countries in the region, mainly Australia and China, are prominently adopting advanced technologies and solutions within the organizations for increasing profits along with customer satisfaction.
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In the coming five years, the growing demands of VOD solution will improve the offerings and create huge opportunities for growth. There has been a significant rise in the past five years, from traditional TV to video on demand content delivery.
This has improved the adoption of mobile-based VOD solutions in hospitality industry.
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