Video on Demand Market Size was valued at USD 72.1 billion in 2022. The video on demand market is projected to grow from USD 85.2 billion in 2023 to USD 324.7 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 18.20% during the forecast period (2023 - 2032). Numerous advantages offered by platforms for video on demand, including convenience, connectivity, affordability, variety, personalized content, and others, as well as the rising use of mobile devices for online content viewing, are important market drivers for the expansion of this video on demand industry.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Video on Demand Market Trends
The popularity of smart devices like tablets, smartphones, and laptops has increased, making it simpler for individuals to watch media material. Consumers also want access to various exciting entertainment options whenever and wherever they want. Aside from that, the market for video on demand is growing internationally due to improving affordability, the availability of high-speed internet connections, and the rise in usage of these connections and services. Rising mobile data subscriptions, increased use of high-speed data networks, and the introduction of cutting-edge features in smartphones and tablets are additional important aspects projected to drive the worldwide video on demand market CAGR over the forecast period.
The availability of video on demand by streaming service providers today allows users to choose videos from their library and view them whenever and as often as they choose. Additionally, users can feel free because video on demand has no such contractual obligations. Customers who choose video on demand also have several subscription plans. Each option is still less expensive than a standard subscription, providing users more bang for their buck and significantly fueling the market's growth. Additionally, during the projected period, the overall market's rise would be accelerated by factors including the prevalence of flexibility and ease of use that provide smooth client experiences. In addition, it is projected that the rising popularity of regional actors and film studios as well as consumers' strong preference for online streaming services over traditional ones, will accelerate the expansion of the video on demand market revenue. In order to avoid enormous crowds, more events are being streamed live, accelerating the market's expansion during the projection period.
Video on Demand Market Segment Insights
Video on Demand Revenue Model Insights
The Video on Demand Market segmentation, based on revenue model includes Subscription Video on Demand (SVoD), Transactional Video On Demand (TVoD) and Advertisement Based Video On Demand (AVoD). The subscription video on demand (SVoD) segment dominated the market. This is mostly attributable to the growing number of subscribers who use over-the-top (OTT) platforms.
In April 2020, Zemoga, Inc. said that 65% of OTT time on home TVs is spent watching subscription video-on-demand (SVoD), 30% watching free streaming, and 5% watching transactional (TVoD).
Figure 1: Video on Demand Market, by Revenue Model, 2022 & 2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Video on Demand Content Type Insights
The Video on Demand Market segmentation, based on content type, includes Sports, Music, TV Entertainment, Kids, Movies and Others. The TV entertainment category generated the most income. This is mostly attributable to the rise in high-budget films, drama series projects, and online commercials. Major corporations are creating VoD platforms using business tactics like partnerships and collaborations.
November 2021: Netflix Inc. worked with Japanese filmmaker Hirokazu Koreeda to develop two projects and produce high-budget motion pictures and drama series.
Video on Demand Regional Insights
By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American video on demand market area will dominate this market due to increasing investment by the major players and a boom in the use of cutting-edge technology like cloud computing and AI. In order to effectively automate the process of streaming videos, producers of VoD platforms use these technologies. For instance, the cloud-based Maxine platform was introduced in October 2020 by NVIDIA Corporation, enabling programmers to add GPU-accelerated AI to streaming video. The NVIDIA Maxine suite is an artificial intelligence-based cloud platform for streaming video services.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: VIDEO ON DEMAND MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Video on demand Market is expected to grow at the fastest CAGR from 2023 to 2032 due to the region's expanding preference for internet steaming services. The increased demand for pay-per-view content and movies significantly influences the expansion of the regional market. Further, the German video on demand market held the largest market share, and the UK video on demand market was the fastest growing market in the European region
Asia Pacific video on demand market accounts for the second-largest market share. This is mostly due to a sizable client base and increased mobile internet users in numerous populated nations. Due to rising consumer demand for products like sports, music, TV entertainment, and others, the market's international firms are increasing their presence in this area. Moreover, China’s video on demand market held the largest market share, and the Indian video on demand market was the fastest growing market in the Asia-Pacific region.
Video on demand Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the video on demand market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, video on demand industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global video on demand industry to benefit clients and increase the market sector. In recent years, the video on demand industry has offered some of the most significant advantages. Major players in the video on demand market are attempting to increase market demand by investing in research and development operations are Alphabet, Inc. (California, US), Amazon.com, Inc. (Washington, US), Hulu LLC (The Walt Disney Company) (California, US), AT&T, Inc. (Warner Media, LLC and Discovery, Inc.) (Texas, US), Netflix, Inc. (California, US), Apple, Inc. (California, US), Comcast Corporation (Philadelphia, US), Facebook, Inc. (California, US), Telefonaktiebolaget LM Ericsson (Stockholm, Sweden) and Verizon Communications Inc. (New York, US).
A provider of media, technology, and telecommunications services is AT&T Inc (AT&T). The business provides wholesale services, telecommunications equipment, managed networking, local and long-distance telephone services, data/broadband and internet services, and wireless communications. Additionally, feature films, television, video games, and material in both physical and digital formats are developed, produced, and distributed by AT&T. Additionally, it offers entertainment and advertising services. In May 2021, a contract was signed between AT&T, Inc. Telecom to merge WarnerMedia LLC and Discovery, Inc. HBO, CNN, and the channels from Warner Bros. Discovery Inc., including TLC, Animal Planet, and the Discovery Channel, are also owned by AT&T.
A large selection of products are available from online store Amazon.com, Inc. Books, music, computers, electronics, and a variety of other goods are among the things offered by the company. Customers can directly order products from Amazon and pay with their credit cards online. It also offers personalized shopping options. Additionally, Amazon runs a cloud platform with international service offerings. In September 2019, Amazon launched a premium audio streaming service called Amazon Music HD. Customers can access and stream more than 50 million songs in HD audio and millions of songs in Ultra HD, providing listeners with a wonderful listening experience.
Key Companies in the video on demand market include
Video on Demand Industry Developments
March 2022Â The Walt Disney Company declared it would introduce ad-supported video on demand (AVOD) in order to hit its objective of more than 230 million members by 2024. As of December 2021, however, the service had 130 million customers. According to the business, the service would launch by the end of 2022.
June 2020 The company revealed a multifaceted idea that gives patrons reason to return to moving theatres with assurance. With the aid of this new programme, Fandango can now use all of its digital resources, including Movieclips on YouTube and the efficiency of its advertising channels. This product introduction will increase Fandango's fan base, which will increase the company's clientele.
Video on Demand Market Segmentation
Video On Demand Revenue Model Outlook (USD Billion, 2018-2032)
Video On Demand Content Type Outlook (USD Billion, 2018-2032)
Video On Demand Regional Outlook (USD Billion, 2018-2032)
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 72.1 billion |
| Market Size 2023 | USD 85.2 billion |
| Market Size 2032 | USD 324.7 billion |
| Compound Annual Growth Rate (CAGR) | 18.20% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Revenue Model, Content Type and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Alphabet, Inc. (California, US), Amazon.com, Inc. (Washington, US), Hulu LLC (The Walt Disney Company) (California, US), AT&T, Inc. (Warner Media, LLC and Discovery, Inc.) (Texas, US), Netflix, Inc. (California, US), Apple, Inc. (California, US), Comcast Corporation (Philadelphia, US), Facebook, Inc. (California, US), Telefonaktiebolaget LM Ericsson (Stockholm, Sweden) and Verizon Communications Inc. (New York, US) |
| Key Market Opportunities | Rising popularity of regional actors and film studios as well as consumers' strong preference for online streaming services |
| Key Market Dynamics | Rising mobile data subscriptions Increased use of high-speed data networks |
Video on Demand Market Highlights:
Frequently Asked Questions (FAQ) :
The Video on Demand Market size was valued at USD 72.1 Billion in 2022.
The global market is projected to grow at a CAGR of 18.20% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are Alphabet, Inc. (California, US), Amazon.com, Inc. (Washington, US), Hulu LLC (The Walt Disney Company) (California, US), AT&T, Inc. (Warner Media, LLC and Discovery, Inc.) (Texas, US), Netflix, Inc. (California, US), Apple, Inc. (California, US), Comcast Corporation (Philadelphia, US), Facebook, Inc. (California, US), Telefonaktiebolaget LM Ericsson (Stockholm, Sweden) and Verizon Communications Inc. (New York, US).
The subscription video on demand (SVoD) category dominated the market in 2022.
The TV entertainment category had the largest share in the global market.
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Team Lead - Research she holds an experience of about 6+ years in market research and business consulting, working under the spectrum of information communication technology, telecommunications and semiconductor domains. aarti conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. her expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc.
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