DUBLIN, Jan. 29, 2020 /PRNewswire/ -- The "Video on Demand (VoD) Market by Solution (Pay TV, OTT Services, and IPTV), Monetization Model (Subscription-based, and Advertising-based), Industry Vertical (Media, Entertainment, and Gaming and Education), and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The global Video on Demand (VoD) market size is expected to grow from USD 38.9 billion in 2019 to USD 87.1 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 17.5% during the forecast period.

Growing customer preference for online streaming services to drive the overall growth of the VoD market

The major factors driving the growth of the VoD market include internet proliferation with penetration of smart devices along with a strong opportunity to reach targeted audiences.

OTT segment to hold the highest market share during the forecast period

The flexibility, comfort, and personalization of content have driven the adoption of VoD solution. Over The Top (OTT) services are predominantly delivered over the end user's handheld devices, such as smartphones, tablets, and laptops, through a wireless connection over the internet. Through the OTT services, viewers are provided with a plethora of choices, with titles from diverse genres within the vast library to choose from at any given time. Owing to this ease-of-use and flexibility, viewers can have a seamless experience.

Subscription-based segment to grow at the highest CAGR during the forecast period

Subscription-based Video on Demand (SVoD) empowers content providers to set up multiple pricing options for users of their content. A proper combination of content and pricing is essential to acquire and maintain audiences. Netflix has over 158 million paid memberships across 190 countries for the SVoD monetization model. The platform offers TV series, documentaries, and feature films across a wide variety of genres and languages. In the VoD market space, the SVoD monetization model enables end users to pay monthly/yearly fees to access its services. The subscription sales include fees associated with memberships and access to digital content.

Media, entertainment, and gaming industry vertical segment to grow at the highest CAGR during the forecast period

With the digitalization of media, entertainment, and gaming mediums, the consumer appetite for gaining access to the right information or preferred channels is growing increasingly. Through efficient VOD solution, organizations are analyzing the structured and unstructured content to enhance their business decisions, augment content quality, and enrich business operations. Rich media services are offered to individual customers through a variety of devices for better customer engagement. By utilizing VoD services, enterprises can interact with their consumers to deliver media and advertising content via rich messaging channels.

APAC to grow at the highest CAGR during the forecast period

Major economies in the Asia Pacific (APAC) include China, Japan, and Australia and New Zealand (ANZ). The proliferation of smart devices, broadband, and internet connectivity, which is augmented by the emergence of advanced technologies, such as 5G, 4G, developed payment infrastructure, and a dynamic local content ecosystem, is driving the VoD market forward. In APAC countries, VoD players such as YouTube, iQiyi, Tencent Video, Youku, ByteDance, Netflix, Amazon, Hotstar, and Hulu Japan, will account for a major share of revenue.

Major Players

Some prominent players across all solution types profiled in the study include: Netflix (US), Amazon (US), Google (US), YouTube (US), Apple (US), HBO (US), Cisco (US), Roku (US), IndieFlix (US), Vudu (US), Hulu (US), Comcast (US), Akamai (US), Huawei (China), Fujitsu (Japan), CenturyLink (US), Muvi (US), and Vubiquity (US).

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the Video on Demand Market
4.2 Market By Component (2019 vs 2024)
4.3 Market By Solution (2019 vs 2024)
4.4 Market By Industry Vertical (2019 vs 2024)
4.5 Market Investment Scenario

5 Market Overview
5.1 Market Dynamics
5.1.1 Drivers
5.1.1.1 Flexibility and Ease-Of-Use Offering Seamless Customer Experience
5.1.1.2 Proliferation of Mobile Computing Devices
5.1.2 Restraints
5.1.2.1 Growing Threat of Video Content Piracy
5.1.2.2 Disparity in Opinion Between Producers and Aggregators Over Licensed Business Model
5.1.3 Opportunities
5.1.3.1 Increasing Preference for Online Streaming Services Over Traditional TV
5.1.3.2 Mergers With Local Producers and Film Studios Across Regions for the Subscription VoD Model
5.1.3.3 Use of Analytics and AI to Discern Audience Preferences and Reactions
5.1.4 Challenges
5.1.4.1 Complex IP, Government Regulatory Frameworks, and Licensing Regimes Across Regions
5.1.4.2 High Cost of Video Content Creation

6 Video on Demand Market By Component
6.1 Introduction
6.2 Solutions
6.2.1 Pay-TV
6.2.1.1 Cable TV
6.2.1.1.1 Focus on Creating Local Format Content to Boost the Demand for Cable TV
6.2.1.2 Direct to Home
6.2.1.2.1 Increasing Need to Substantially Reduce Customer Churn Driving the Growth of Direct to Home Segment
6.2.2 Over-The-Top Services
6.2.2.1 Flexibility to Access Video on Handheld Devices Driving the Demand for Over-The-Top Services
6.2.3 Internet Protocol Television
6.2.3.1 Attractive Pricing Strategies to Spur the Growth of the IPTV Segment
6.3 Services
6.3.1 Growing Need to Streamline Business Processes Driving the Growth of Services Segment

7 Video on Demand Market By Monetization Model
7.1 Introduction
7.2 Transaction-Based
7.2.1 Attractive Video Packages to Boost the Demand for Transaction-Based Monetization Model
7.3 Subscription-Based
7.3.1 Focus on Delivering Enhanced Customer Experience to Fuel the Demand for Subscription-Based Monetization Model
7.4 Advertising-Based
7.4.1 Higher Penetration of Internet and Use of Mobile Devices to Drive the Demand for Advertising-Based Monetization Model
7.5 Others

8 Video on Demand Market By Industry Vertical
8.1 Introduction
8.2 Media, Entertainment, and Gaming
8.2.1 Ability to Select Content as Per One's Interest to Drive the Growth of the Market in Media, Entertainment, and Gaming Vertical
8.3 Travel and Hospitality
8.3.1 Growing Demand for On-The-Go Services on Handheld Devices to Boost the Adoption of VoD Solution and Services in Travel and Hospitality Vertical
8.4 Education
8.4.1 Proliferation of Elearning and Smart Education System to Drive the Growth of the Market in the Education Vertical
8.5 Others

9 Video on Demand Market By Region
9.1 Introduction
9.2 North America
9.2.1 United States
9.2.1.1 Presence of Major VoD Solution Providers in the US to Drive the Growth of the Market
9.2.2 Canada
9.2.2.1 Increased Mobility Trend in Canada to Drive the Growth of VoD Market
9.3 Europe
9.3.1 United Kingdom
9.3.1.1 Changing Content Consumption Behavior to Drive the Demand for the OTT Services Segment in the UK
9.3.2 Germany
9.3.2.1 Increasing Number of Digital Viewers Contributing to the Growth of the VoD Market in Germany
9.3.3 France
9.3.3.1 Robust Telecommunication Infrastructure to Propel the Growth of the VoD Market in France
9.3.4 Rest of Europe
9.4 Asia Pacific
9.4.1 China
9.4.1.1 Roll Out of 5G Services By Telecom Operators to Drive the Growth of the VoD Market in China
9.4.2 Japan
9.4.2.1 Convenience of Accessing Content From Anywhere and Any Device to Propel the Growth of the VoD Market in Japan
9.4.3 India
9.4.3.1 High Internet Traffic in India Contributing to the Higher Adoption of VoD Solutions
9.4.4 Australia and New Zealand
9.4.4.1 Technologically Advanced Population With Strong Awareness of VoD Content to Drive Svod Monetization Model in ANZ
9.4.5 Rest of Asia Pacific
9.5 Latin America
9.5.1 Mexico
9.5.1.1 Increasing Adoption of Mobile Technology in Mexico to Propel the Growth of the VoD Market
9.5.2 Brazil
9.5.2.1 Digital Transformation Initiatives Across Industry Verticals to Drive OTT Services Segment in Brazil
9.5.3 Rest of Latin America
9.6 Middle East and Africa
9.6.1 United Arab Emirates
9.6.1.1 Government Initiatives to Offer Positive Opportunities for the Adoption of VoD Solutions in the UAE
9.6.2 South Africa
9.6.2.1 Increasing Interest of Audience in Global Video Content to Drive the VoD Market in South Africa
9.6.3 Kingdom of Saudi Arabia
9.6.3.1 Use of Internet to Watch TV and Video Content Propelling the Growth of VoD Solutions and Services in KSA
9.6.4 Rest of Middle East and Africa

10 Competitive Landscape
10.1 Overview
10.2 Competitive Scenario
10.2.1 Partnerships
10.2.2 New Product Launches

11 Company Profiles
11.1 Introduction
11.2 Netflix
11.3 Amazon
11.4 Google
11.5 Apple
11.6 Youtube
11.7 Cisco
11.8 HBO
11.9 Hulu
11.10 Vudu
11.11 Indieflix
11.12 Comcast
11.13 Akamai
11.14 Huawei
11.15 Fujitsu
11.16 Centurylink
11.17 Roku
11.18 Muvi
11.19 Vubiquity
11.20 Right-To-Win

For more information about this report visit https://www.researchandmarkets.com/r/khm5oe

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