Home > Media & Technology > Media and Entertainment > Audio Video > Video on Demand Market

Video on Demand Market Trends

  • Report ID: GMI4676
  • Published Date: Jul 2024
  • Report Format: PDF

Video on Demand Market Trends

Emerging trends in the VOD industry include the rise of subscription bundling, where consumers access multiple streaming services through discounted packages. Interactive and immersive content formats, such as virtual reality (VR) and augmented reality (AR), are also gaining traction, enhancing viewer engagement and user experience. Adaptive bitrate streaming technologies optimize video quality based on available bandwidth, ensuring seamless playback across varying internet speeds. These trends reflect ongoing innovations aimed at meeting consumer expectations for personalized, high-quality entertainment experiences.
 

The video on demand market is evolving rapidly with several emerging trends shaping its trajectory. One prominent trend is the rise of subscription bundling and aggregation services. Consumers increasingly prefer accessing multiple streaming platforms through bundled subscription packages offered by telecom operators or third-party aggregators. These bundles provide cost savings and convenience by combining subscriptions to various VOD services, music streaming platforms, and other digital content providers into a single monthly payment.
 

This trend not only enhances consumer value but also reduces subscriber churn by offering a comprehensive entertainment solution that caters to diverse viewing preferences. Moreover, subscription bundling fosters strategic partnerships among VOD providers and telecommunications companies, driving customer acquisition and revenue growth through collaborative marketing initiatives and cross-promotional campaigns.
 

Another notable trend in the VOD market is the proliferation of interactive and immersive content experiences. Advances in virtual reality (VR), augmented reality (AR), and mixed reality (MR) technologies are transforming the way users engage with entertainment content. VOD platforms are increasingly experimenting with interactive storytelling formats, live virtual events, and personalized VR experiences to enhance viewer engagement and retention.
 

These immersive technologies enable users to interact with characters, explore virtual environments, and participate in interactive narratives, creating a more engaging and personalized viewing experience. As consumer demand for immersive content grows, VOD providers are investing in VR-compatible content libraries, developing innovative production techniques, and collaborating with technology partners to push the boundaries of entertainment delivery.
 

Authors: Suraj Gujar, Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

The market size of video-on-demand reached USD 141.9 billion in 2023 and is set to record a CAGR of over 15% between 2024 and 2032, favored by the increasing penetration of high-speed internet globally, in consort with the convenience of streaming content on-demand.

The media & entertainment segment is expected to record a revenue of over USD 450 billion in 2023, driven by increasing consumer demand for diverse and high-quality content, such as movies, TV shows, documentaries, sports, and live events.

North America dominated the global market in 2023, accounting for a share of over 45%, characterized by extensive broadband penetration and widespread access to high-speed internet, facilitating seamless streaming experiences across smart TVs, gaming consoles, and mobile devices.

Amazon.com, Inc., Netflix, Inc., The Walt Disney Company (Hulu, Hotstar), HBO, Apple, Inc., Google LLC, and Microsoft Corporation among others.

Video on Demand Market Scope

Buy Now


Premium Report Details

  • Base Year: 2023
  • Companies covered: 25
  • Tables & Figures: 218
  • Countries covered: 21
  • Pages: 210
 Download Free Sample