Video on Demand Service Market is Anticipated to be Valued at US$ 126 Bn by 2027
A recent market report published by Future Market Insights titled “Video on Demand Service Market: Global Industry Analysis (2014-2016) & Opportunity Assessment (2017-2027)” presents detailed insights and a revised forecast of the global video on demand service market for the period 2017 – 2027. According to the report, the global market for video on demand service was valued at around US$ 53 Mn in 2016, and is expected to register a CAGR of 8.2% from 2017 to 2027. The global market for video on demand services is valued at around US$ 57.8 Bn in 2017 and is estimated to reach a valuation of more than US$ 126 Bn by the end of the period of assessment.
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Global Video on Demand Service Market: Segmentation Acumen
Global video on demand service market is categorized on the basis of content type and region. On the basis content type, the market is segmented as animation and others. The animation segment is further segmented as kids, movies and others.
By content type, the others segment is anticipated to be the largest with a high market share and valuation. This segment is estimated to reach a significant value by the end of the year of assessment and is projected to grow at a CAGR of 7.9% during the period of forecast. The animation segment is the fastest growing as it is expected to witness increased adoption in the coming years. It is expected to grow at a healthy 9.5% CAGR throughout the said period
By region, North America is expected to show high market attractiveness and is poised to lead the global market. Revenue from the Video on Demand Service Market in North America account for over 37.7% of the global Video on Demand Service Market revenue in 2017. Machine Safety providers can focus on expanding across several countries in APAC and North America regions such as India, China and U.S. The Asia Pacific excluding Japan region is projected to grow at a high CAGR during the forecast period
Global Video on Demand Service Market: Dynamics Influencing Growth
Aspects like rise and success of content on-demand (CoD) services offered by providers such as Netflix, Amazon Video and Hulu, vertical integration by social media platforms to offer streaming video services and technological advancements resulting in the shift in viewer preference from televisions linear schedule to viewing content as per convenience are boosting the growth of the global market for video on demand service market. On the other hand, factors such as no offline availability and technical anomalies causing unavoidable interruptions during the content play are restraining the growth of the global video on demand service market.
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Global Video on Demand Service Market: Competitive Landscape
Key competitors in Video on Demand Service Market are companies providing software, service, content and distributors, namely Cisco Systems Inc., Netflix Inc., Home Box Office, Inc., AT&T Inc., Avnet, Inc., Terra Networks, S.A., Telefe Internacional, Caracol Television, Caracol Television, British Broadcasting Corporation (BBC), Channel 4 News, CinemaNow, Now TV, EROSNOW, BIG FLIX, ComScore, YouKU.com, iQIYI, Conviva, Netris, Ale Kino Plus, FOX NOW, Spark, American Heroes Channel, Urban Movie Channel and many more.