Video on Demand Industry Analysis 2021, Market Growth, Trends, Opportunities Forecast To 2026 | Alcatel-Lucent, Fujitsu, ZTE Corporation, Ericsson, Huawei Technologies
Video on Demand is simply a media delivery system, which allows users to access pre-recorded videos via the internet and without the limitations of a standard video playback machine. In the early 20th century, airing television programming in the form of an over-the-air broadcast was the most popular form of digital media delivery. Nowadays, more people are realizing the value of Video on Demand services and are making the switch from analog broadcasting to Video on Demand services. With the availability of Video on Demand services, it has become easier to view live and recorded TV shows online.
With the help of the leading players' evolving tactics, the global Video On Demand market has improved technologically for all of its goods. To develop a larger market size, the Video On Demand Market reaches out to targeted consumers in order to sell out the necessary items and services. The application of various technologically sophisticated solutions in the development of items linked with the worldwide Out of Video On Demand Market has been a significant factor in the market's success. This market has a large number of important competitors who are supporting it from all sides in order for it to grow and thrive during the present forecast time range.
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Major Key players in this Market:
Akamai Technologies Inc.
Level 3 Communications
Key Player Strategies
The major companies are currently adapting new ways or solutions to grow the present technology or technique as the global Out of Video On Demand Market thrives. This will gradually evolve the Video On Demand Market's items, and customers will reap the benefits. As a result, this will have a direct influence on the global Out of Video On Demand industry's market size. The worldwide Video On Demand Market's application segmentation reveals that it is extensively utilised by a variety of industries throughout the world. These industries utilise the items to get positive results in their homes or businesses. There isn't a single thing on the market that hasn't been divided into categories. Unique item types have a different significance that aims to suit the needs of the buyers.
Increasing internet penetration across the world is expected to drive growth of the global video on demand market during the forecast period. According to the International Telecommunication Union (ITU), internet users across the globe reached 4 billion in 2019, increasing from 2.8 billion in 2014. Such a significant increase in internet penetration and smartphone users has led to the high adoption of video on demand for entertainment. Streaming services such as Netflix, Hulu, and HBO Max provide digital content on-demand that can be accessed via smartphones.
High cost of content creation and growing number of video piracy threats are expected to restrain growth of the global video on demand market.
COVID-19 Impact Analysis
During the COVID-19 pandemic, the adoption of video on demand services increased exponentially. Since many countries adopted lockdown policies to curb the spread of the virus, video on demand services have become the main source of entertainment. Many streaming services including Netflix, Hulu, Amazon Prime Video, Disney+, etc. started to offer lucrative content during this period, which has increased the adoption of video on demand services. Furthermore, this content can be accessed via laptop, smartphone, tablets, and even smart TVs, which has further increased its adoption.
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The global video on demand market is expected to witness growth, exhibiting a CAGR of XX% during the forecast period, owing to rising demand for video on demand to provide education and training through satellite connectivity.
Among regions, North America is expected to witness significant growth in the global video on demand market during the forecast period, owing to increasing number of smartphone users across the U.S. According to the Pew Research Center, in 2019, around 81% of people in the U.S. had smartphones, increasing from 68% in 2015.
Asia Pacific is expected to register a robust growth rate, owing to rising inclination towards online streaming services over conventional TV in Asia Pacific.
Major companies involved in the global video on demand market are Amazon.com, Inc., HBO he Walt Disney Company, Netflix Inc., Sony Corporation, Microsoft Corporation, Google LLC, Tencent Holdings Ltd., and Viacom CBS.
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