Future Market Insights (FMI) released its recent report titled, “Video on Demand (VoD) Market – Global Industry Analysis and Opportunity Assessment, 2015 – 2020”. According to finding of the report, the global VoD market was valued at US$ 207,125.4 Mn in 2013 and is anticipated to reach US$ 357,273.9 Mn by 2020, registering a single digit CAGR of 8.1% between 2014 and 2020. Some of the growth factors in the global VoD market include increasing spending by consumers on video services, proliferation of connected devices and increasing number of internet users.
The global Video on Demand market on the basis of services is segmented into Pay Tv, Subscription based, and Transactional based services. Pay TV services segment accounted for over 90% of the global VoD market in 2014. However, the Subscription based VoD service market is expected to expand at a CAGR of 15.8% from 2015 to 2020. The contribution of the Transactional based VoD service market to the overall Global VoD service market is anticipated to increase from 1.9% to 3.8% by 2020, witnessing an increase of 190 BPS.
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Furthermore, Pay TV services segment is sub-segmented into satellite TV, analog cable TV, digital cable TV, and internet protocol (IP) TV services. Among aforesaid sub-segments, satellite TV dominated the global pay TV service segment with over 40% market share in 2014, but is expected to lose its dominance to digital cable TV sub-segment by 2020. However, IPTV is anticipated to emerge as a fastest growing sub-segment over the forecast period, followed by digital cable TV. In addition, digital cable TV sub-segment is expected to witness 2.3 times growth in its market share as compared to 2013.
FMI Consultant Vineet Kumar elaborated on why VoD will become mainstream technology in the near future. “The shift in audience video content watching preference like watching videos on their mobile devices rather than sitting at home and watching TV is expected to increase the uptake of VoD services radically”.
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Region-wise, the global Video on Demand market is sub-segmented into seven major regions which include North America, Western Europe, Asia-Pacific Excluding Japan (APEJ), Japan, Eastern Europe, Latin America, and Middle East and Africa. Among aforesaid regions, North America and Western Europe collectively accounted for over 60% of the total Video on Demand market share in 2014, which is more than 1.9x when compared to total VoD market. However, the Asia-Pacific region is expected to merge as the fastest growing region due to increasing broadband internet penetration and mobility within that region during the forecast period
Key focus of the major service providers such as Netflix and Amazon in the global Video on Demand market is on partnerships to expand their geographical presence and client base. Key players in the global Video on Demand market include Netflix Inc., Amazon.com Inc., ZTE Corporation, Accenture plc, Motorola Solutions Inc., Alcatel-Lucent, Cisco Systems Inc., SeaChange International, Inc., Sky Plc, and Vubiquity, Inc.
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