Global Video On Demand Market To Surpass $618.54 Billion By 2030 – Astute Analytica
New Delhi, Jan. 24, 2023 (GLOBE NEWSWIRE) — The global video-on-demand (VoD) market generated revenues of $215.71 billion in 2022 and is estimated to reach a valuation of $618.54 by 2030. billion at a CAGR of 14.07% during the forecast period, 2023-2030. Astute Analytica attributes this rapid growth to several factors, including the increasing availability of broadband internet, the widespread use of connected devices, and the decline in cable TV subscribers. These trends are expected to continue in the coming years, leading to even more growth in the on-demand video industry.
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This rapid growth offers numerous opportunities for companies in the video-on-demand market. We propose that businesses be empowered to develop new business models that take advantage of the on-demand nature of video consumption, and for content creators to develop new types of engaging and interactive content that can take advantage of the capabilities of connected devices. In addition, the on-demand video market is still in its infancy, leaving room for innovation. Companies that can take advantage of these opportunities will be well positioned for success in this fast-growing industry
Top trends in the video on demand market
Streaming Wars: Increasing competition between streaming platforms such as Netflix, Amazon Prime Video, Disney+ and Hulu is shaping the on-demand video industry.
Original Content: More platforms are investing in creating their own original content to attract and retain customers.
Mobile streaming: The rise of mobile streaming and the increasing availability of high-speed internet make it easier for viewers to watch videos on their mobile devices.
Short Video: The popularity of short videos on platforms such as TikTok, Instagram, and YouTube is leading to the creation of more short videos on streaming platforms.
Personalization and recommendation: Using data and AI leads to more personalized and recommended content for viewers.
Subscription-Based Models: The shift to subscription-based models, where users pay a monthly fee to access a platform’s content, is changing the way the on-demand video industry operates.
Virtual reality and augmented reality: The increasing use of virtual and augmented reality technology is leading to the creation of more immersive video experiences.
Netflix, Amazon Inc., Alphabet Inc., HBO and The Walt Disney Company generate more than 50% of Video On Demand market revenue
The United States is the largest video-on-demand market, followed by China and Japan. Netflix, Amazon Inc., Alphabet Inc., HBO and The Walt Disney Company are the leading players in the global video-on-demand market. These companies have a strong presence in North America and Europe and are investing heavily in Asia Pacific to expand their customer base.
Netflix is the world’s largest video on demand company with a market share of 30%. The company has a strong presence in North America and Europe and is expanding its business in Asia Pacific. Netflix has more than 223 million subscribers worldwide and offers a wide variety of content, including original programming.
Amazon Inc. is the second largest player in the global video-on-demand market. The company offers Amazon Prime Video, a subscription-based service that gives users access to a large library of movies and TV shows. Amazon Prime Video is available in more than 23 countries and territories. The Google division of Alphabet Inc. operates YouTube, the world’s largest online video platform with more than 2.5 billion monthly active users. YouTube offers a wide variety of content, including user-generated videos, music videos, TV shows, and movies. YouTube recently launched YouTube Premium, a subscription-based service that gives users access to exclusive content.
North America is the largest contributor to the video on demand market
It comes as no surprise that North America is the largest contributor to the market. The region has the largest number of internet users and the highest broadband penetration. In addition, North America also has the highest number of pay-TV households. The video on demand market in North America is expected to grow at a compound annual growth rate (CAGR) of 14.05% in the coming years. This is mainly due to the increasing number of broadband households and the shift from traditional TV viewing to online video streaming. In addition, North American consumers are early adopters of new technologies and services. This means they are more likely to try new things, including video-on-demand services. The high levels of broadband penetration and early adoption of new technologies and services have contributed to the growth of the video on demand market in North America.
Some of the major players in the market in North America include Netflix, Hulu, and Amazon Prime Video. These companies have invested heavily in content creation and marketing which has helped them acquire a large subscriber base in the region.
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OTT providers are shifting their monetization focus to an advertising model
As the VOD market matures, we expect more providers to shift their focus to advertising monetization. This will provide a more sustainable business model for many OTT providers, especially those who are currently struggling to generate sufficient revenue from subscription fees.
As the popularity of streaming services continues to grow, so does competition between Over-The-Top (OTT) providers. To stand out in this increasingly crowded market, many OTT providers are shifting their focus to monetization through advertising models. Advertising models have a number of benefits for OTT providers. First, they allow providers to monetize without charging subscribers to access their content. Second, ads can be targeted to specific audiences, helping to improve user experience. And finally, ads can be used to promote other OTT provider products and services, which can lead to additional revenue streams.
However, there are a few challenges in the video-on-demand market that OTT providers must overcome as they transition to an ad-based model. First, they need to make sure their content is still compelling enough to attract and retain viewers. Second, they need to strike a balance between the number of ads they display and the quality of the user experience. And finally, they will need to manage the expectations of advertisers, who may not be used to working with OTT providers. Overall, moving to an ad-based model is a viable option for OTT providers looking to generate additional revenue. With some careful planning and execution, OTT providers can successfully meet the challenges of this shift and be at the forefront of the ever-changing streaming landscape.
Some of the best players on the market are:
Alphabet Inc. (Youtube)
Chicken soup for the Soul Entertainment, Inc. (Crackle Inc.)
iNDIEFLIX Group Inc.
Liberty Global plc
MatrixStream Technologies Inc.
TalkTalk Telecom Group Limited
The Walt Disney Company (Hulu)
Verizon Communications Inc.
Warner Bros. Discovery, Inc., (HBO)
Other prominent players
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