Video on demand is a service that allows user to watch or record the desired video content. It also permits the viewer to live stream the video or download it and play it at place and time of his convenience. User can subscribe for monthly or annual plan or can pay-per-view, sometimes live streaming option is also available. Video on demand provides movie access, TV programs, web series, live streaming of concerts or shows, music etc.
Increasing use of internet and increasing number of online video streaming websites are major factors driving growth of the global video on demand market. In addition, factors such as time-shifting view, consumer reach, and best possible experience are also driving demand for video on demand in the market globally. In addition, high speed data enabled networks and service providers are further fueling growth of the global video on demand market.
Pricing strategy by some prominent players is one of the restricting factor hampering growth of the global video on demand market. In addition, free online video service providers can raise piracy concerns which is negatively impacting video on demand market globally. Challenges such as digital right management, video formats, and diversified bit rate is holding back video on demand market to reach its full potential.
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The global video on demand market is segmented on the basis of business models, delivery technology, application, industry verticals and region. On the basis of region, the global video on demand market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
North America leads in terms of market share and is projected to maintain its dominance during the forecast period, owing to multiple subscription option, rising web content such as TV programs and web series. The market in Asia Pacific is expected to witness significant growth in terms of revenue owing to development in high speed internet services and consumer inclination towards western serials. The market in Europe is expected to witness considerable growth in terms of revenue generation during the forecast period.
Key players in the global video on demand market are Netflix Inc., Amazon Inc., Home Box Office Inc., Hulu LLC, iTunes (Apple, Inc.), Telefonaktiebolaget LM Ericsson, Verizon Communication, YouTube, Maxdome GmbH, and Canalplay.
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