Global Video-on-Demand Market to Grow at a CAGR of 12.15% During 2024-2032, Aided by the Rapid Adoption of Digital Devices Worldwide

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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Market Breakup by Business Model, Application, and Region:

• The market is divided, based on business model, into transactional video-on-demand (TVoD), subscription video-on-demand (SVoD), and others.

• On the basis of application, the market can be distributed into media and entertainment, education and training, and health and fitness, among others. 

• Region-wise, the global market for video-on-demand can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The global market for video-on-demand is being driven by the rising demand for affordable and convenient video content viewing solutions.

• The growing availability of a range of video-on-demand services has significantly contributed to the market expansion. 

• The increased adoption of digital solutions such as smartphones and smart TVs is also supporting the industry growth. 

• The rapid technological advancements such as the integration of cloud technology and extended reality (XR) are further propelling the market growth.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for video-on-demand for the periods (2018-2023) and (2024-2032). 

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the business models, applications, and major regions of video-on-demand.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

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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