NEW YORK, Nov. 10, 2015 /PRNewswire/ -- Video on demand is a system in which users can select and watch desired content as per their convenience and have necessary control over the viewership. It empowers a viewer to watch content as per their suitability with optimal control to enhance their overall video experience. A user can either pay-per-view or subscribe the service with either monthly or an annual plan. The system enables the user to either stream or download the content at a time and place of their convenience. To provide better user controllability, the system provides the transfer of digitally compresses and encoded content from a video server to the set of terminal at the subscriber end, where the content is reassembled, decoded and presented to the viewer.
The Global Video on Demand Market is estimated to be worth $47.25 billion in 2015 and is expected to reach $74.81 billion by 2020, at a CAGR of 9.63%. North America holds the major share of market with Asia Pacific being the fastest growing region. The need to have control over viewership, and increasing demand to empower viewer and enhance video experience are driving factors of the market. Whereas, limited availability of content that results in limited choice for user and issues related to content licensing are constraining the video on demand market.
Due to increasing use of internet and digital satellite transmission of video content, the availability and application for video on demand service has increased significantly in recent years, which ranges from entertainment to education and personal training. With the level of control and convenience provided to the user a whole new video experience has been created by the service and the market is expected to grow at high rate in the coming years.
The report on Global Video on Demand market is broadly segmented on the basis of revenue model, platform, application, industry vertical and geography. As per revenue model the market has been segment into SVOD, TVOD and NVOD. Whereas as per platform the market has been segmented into IPTV, Pay DTT, OTT video and others.
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