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The global video-on-demand industry is being driven by the rising adoption of digital solutions worldwide. This can be attributed to the growing use of smartphones and smart devices like TVs and watches, which enable users to view content at their leisure, from anywhere and at anytime. Additionally, in terms of application, the media and entertainment sector is projected to witness a healthy growth in the forecast period. This can be associated with the growing online platforms and the increasing focus on content creation with the launch of new shows and films. Furthermore, the rising adoption of subscription-based video solutions is also expected to support the market growth.
The heightened demand for video-on-demand services is driving the leading market players to develop efficient and unique video-on-demand platforms to enhance user experience. For instance, in September 2021, Amazon Web Services, Inc. (NASDAQ: AMZN) announced the launch of eight global and local streaming services on its video platform in India, in an endeavour to boost subscriptions in the region. Furthermore, another leading video-on-demand service provider, Apple Inc. (NASDAQ: AAPL), in August 2019, announced the launch of the company’s new streaming platform, Apple TV+, which offers exclusive original shows, movies, and documentaries on the Apple TV app. The viewers will get a new slate of programming ad-free and on-demand, featuring some of the world’s most celebrated artists. Such developments are expected to positively impact the video-on-demand industry growth in the forecast period.
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The major players in the global video-on-demand market are Amazon Web Services, Inc., Netflix, Inc., The Walt Disney Company (Disney+), Apple Inc., and Zee Entertainment Enterprises Limited, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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