Video on Demand Market is expected to reach a value of USD 93.99 billion by 2023 and grow at a CAGR of 8.93%, during the forecast period (2018-2023)| Top Vendors - AT & T INC., NETFLIX INC., VUDU INC., CISCO SYSTEMS INC., FUJITSU LTD., ERICSON, AMAZON INC

Market Analysis:

North America to Dominate the Market
The consumption of media content in the United States is increasing tremendously with a switch from traditional media to digital media. The increasing internet speeds, coupled with the increasing number of devices that support digital media, has provided the consumers with the freedom to access media content anywhere and anytime.

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Video on Demand (VoD) gives viewers, the liberty in accessing video content on computers, televisions and mobile devices, irrespective of time, where, various providers help in making the content available to the customers. Although, VoD was initially in demand for movie access, with the changing customer preferences boosting the demand for TV programs and other contents, VoD service providers had to expand their offerings to other content programmers. The widespread usage of mobile device and increasing access to internet has helped the customers to stay up-to-date with the digital world that reduces the need for waiting. The need for instant satisfaction is evolving as a powerful force in the business and marketing world, where the retailers and manufacturers have sensed the massive opportunity to make profits from consumer impatience. The IPTV market is expected to grow rapidly during the forecast period with the growing technological advancements, along with emergence of infrastructure.

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Market Segments:
Video on Demand Market is segmented by:
1. Business Model: Transactional Video on Demand (TVOD), Subscription Video on Demand (SVOD), Advertising Video on Demand (AVOD)
2. Content: Pay-TV VOD, Over-the-top (OTT), Internet Protocol Television (IPTV)
3. Application: Entertainment, Education and Training, Online Commerce, Digital Libraries
4. Industry Verticals: Banking, Financial Services and Insurance, Retail, Manufacturing, Hospitality, Media and Entertainment, Transport and Logistics, Others
5. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments in the Market
• February 2018 - Owing to the changing landscape, many TV networks have also been shifting to video on demand. Nine Entertainment has relaunched its leading 9Now streaming channel and owns 50% stake in Netflix’s Rival Stan.
• February 2018 - Vox, telecommunications and ICT service provider has planned on launching internet video on demand services and is set to compete for specialist language bouquets.

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