Video on Demand (VOD) Market Worth $61.40 Billion by 2019
DALLAS(09 Feb 2015)
According to new research report "Video on Demand (VOD) Market by Solution (Pay TV, OTT, IPTV), by Delivery (TVOD, SVOD, NVOD), by Application (Entertainment, Education and Training, Video Kiosk, E-commerce, Digital Libraries), and by Geography - Global Forecast and Analysis to 2019", published by MarketsandMarkets, VOD market to grow from $25.30 Billion in 2014 to $61.40 Billion in 2019, at a CAGR of 19.4% during the forecast period.
Browse 66 Market Data Tables and 54 Figures spread through 137 Pages and in-depth TOC on "Video on Demand (VOD) Market"
MarketsandMarkets broadly segments the VOD market in solutions including Pay TV VOD, OTT videos, and IPTV. The report also covers various delivery technologies such as TVoD, SVoD and NVoD. It is segmented by type of applications: entertainment, education and training, network video kiosks, online commerce and digital libraries. The VOD market is also segmented by type of verticals: academia and government, banking financial services and insurance (BFSI), consumer goods and retail, healthcare, manufacturing, hospitality, media and entertainment, telecom and IT, transportation and logistics and others; and by regions: North America (NA), Europe (EU), Asia-Pacific (APAC), Middle East and Africa (MEA) and Latin America (LA).
Major forces driving this market are reaching audiences on any device, delivering best possible viewer experience, enabling time-shifting view, and unmatched scalability. VOD solutions helps the viewers to reach any connected device, offering a key competitive advantage in terms of consumer reach despite of various challenges involved such as diversified bit rates, operating systems, digital rights management (DRM) and multiple screen formats. As customers want to acquire large number of programs, they demand for high quality videos and this is where an emergence of OTT and IPTV occur. Therefore, TV no longer considers itself a push industry, because viewers are now pulling the content they require. As the TV experience is changing rapidly from a traditional linear TV, OTT viewers are surpassing IPTV viewers. The VOD providers are consolidating their grounds in the highly competitive market through mergers and acquisitions to build feature-rich solutions and attain better market visibility.
MarketsandMarkets believes that video on demand services are helpful in offering internet, telephone, broadcasting and television programs to various industries. It enables the cable operators or users to access the combined services which are made possible by accessing to the internet protocol. Diversified industries including academics, government, banking, healthcare, media and transportation use VOD service for education, research, conference and entertainment. VOD helps in minimizing the expenditure of entry and delivery into internet protocol. The challenges occurring while delivering VOD can be overcome by combining on-demand content with live streaming events and various similar solutions.
MarketsandMarkets forecasts the Video on Demand Market to grow from $25.30 billion in 2014 to $61.40 billion in 2019, at a CAGR of 19.4% during the forecast period. In terms of regions, North America is expected to be the biggest market in terms of revenue contribution, while Asia-Pacific (APAC) and Middle East and Africa (MEA) are expected to experience increased market traction, during the forecast period.
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