Video on Demand (VoD) Market

Video on Demand Industry - Forthcoming Trends to Fuel the Global Growth

The global global Video on Demand (VoD) market will grow from USD 146.6 billion in 2023 to USD 270.3 billion by 2028 at a compounded annual growth rate (CAGR) of 13.0% during the forecast period.

The Video on Demand (VoD) industry is undergoing rapid evolution, driven by emerging trends and global forecasts.

Emerging trends in the global VoD Market are:

  • Streaming Wars Intensify
  • Original Content Boom
  • Global Expansion
  • Hybrid Models
  • Vertical Integration
  • Personalization and Recommendation
  • Live Streaming Integration
  • Technological Advancements
  • Partnerships and Collaborations

These emerging trends indicate a dynamic and evolving landscape for the VoD market, driven by technological innovation, changing consumer preferences, and intense competition among industry players.

To know about the assumptions considered for the study download the pdf brochure

Streaming Wars Intensify:

  • With the rise of new streaming platforms like Disney+, Apple TV+, HBO Max, and Peacock, competition in the VoD market is intensifying.
  • This leads to more content options for consumers but also fragmentation, potentially leading to subscription fatigue.

Original Content Boom

  • Original content production by streaming services is surging. Companies are investing heavily in creating exclusive and high-quality content to attract and retain subscribers.
  • This trend is driving innovation and diversity in storytelling.

Global Expansion

  • VoD platforms are increasingly targeting international markets to fuel growth.
  • Localization of content, including subtitles and dubbing, is becoming essential to cater to diverse audiences worldwide.

Hybrid Models

  • Some platforms are adopting hybrid models, offering both subscription-based streaming and ad-supported free tiers.
  • This strategy allows them to reach a wider audience and diversify revenue streams.

Vertical Integration

  • Media companies are increasingly pursuing vertical integration strategies, where they own both content production studios and distribution platforms.
  • This trend, exemplified by companies like Disney and Comcast, enables greater control over content and distribution channels.

Personalization and Recommendation

  • VoD platforms are leveraging data analytics and machine learning algorithms to deliver personalized recommendations to users.
  • By understanding viewing preferences and behavior, they enhance user experience and increase engagement.

Live Streaming

  • While VoD traditionally focuses on pre-recorded content, live streaming is gaining popularity.
  • Sports events, concerts, and other live performances are being streamed on various platforms, providing new revenue streams and opportunities for engagement.

Technological Advancements

  • Advancements in technology, such as 4K/UHD, HDR, and immersive audio formats like Dolby Atmos, are enhancing the quality of content delivery.
  • Additionally, emerging technologies like virtual reality (VR) and augmented reality (AR) are being explored to create more immersive viewing experiences.

Partnerships and Collaborations

  • VoD platforms are forming partnerships and collaborations with content creators, production studios, and other companies to expand their content libraries and reach new audiences.
  • These collaborations can lead to co-productions, content licensing deals, and cross-promotional campaigns.

Emphasis on Diversity and Inclusion:

There is a growing emphasis on diversity and inclusion in content production and representation on VoD platforms. Platforms are actively seeking out diverse voices and stories to reflect the varied experiences and perspectives of their global audience.

Related Reports:

Video on Demand (VoD) Market by Offering (Solutions, Services), Monetization Model (SVoD, AVoD), Platform Type (Smartphones, Smart TVs), Deployment Model, Content Type (Movies, Music), Vertical and Region - Global Forecast to 2028

Video on Demand (VoD) Market Size,  Share & Growth Report
Report Code
TC 3143
RI Published ON
4/2/2024
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