MarketResearch.biz released a new report about the growing popularity of the video-on-demand (VOD) industry. The title of the survey is “Global Video on Demand (VOD) Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast, 2017 to 2026.”
The study offers a focused and in-depth analysis of the revenue and sector growth patterns in the global VOD market within the 10-year forecast period of 2017 to 2026.
According to the report, video-on-demand is a type of entertainment service that allows the audience to watch video content anytime and anywhere they please. All they need is an Internet connection and a streaming device, like a smartphone or a laptop.
Readers of the study will understand that video-on-demand services are subscription-based. Consumers can sign up for a monthly or yearly plan. The service contains unlimited access to films, web series, TV shows, musical performances, and other entertainment selections.
According to the comprehensive analysis, the primary drivers for the growth in the VOD market worldwide are the increasing usage of online video streaming websites and high-speed Internet services.
Consumer reach, time-shifting viewing, and best-of-breed encounters all propel the demand for VOD globally as well.
However, it is not all a rosy picture. The report confirms that limitations for the growth in the international VOD market exist like the costing strategies of some leading industry players.
Piracy concerns are also a problem due to the probability of the increasing trend of online video providers offering free services.
Other issues which adversely affect the VOD market are diverse bit rates, digital rights management, and video formats.
The report also described the global VOD market segmentation by region. In terms of market share, North America is at the top and is forecasted to keep its ascendancy during the forecast period.
Rapidly rising web content like web series and TV shows and multiple subscription package types are credited for this development.
The Asia-Pacific market is projected to see significant growth with respect to revenue. Consumers’ increased appetite for Western content and the progress in high-speed Internet services all contribute to this expansion in the region.
The European market is catching up with respect to revenue growth as well. Among the companies included in the research are mainstream international VOD providers like Netflix, Hulu, YouTube, and HBO from the United States; Germany’s Maxdome GmbH; and France’s CanalPlay.
The revenue of the international VOD market is provided for the year 2016 in billions. The forecasted figure for 2026 is also included with a single-digit compound annual growth rate.
With the detailed nature of the study, executives, professionals, and other interested parties related to the video-on-demand business can benefit from reading this reference. It is a substantive source of information on how the VOD market will most likely perform in the next ten years.