Global Video-on-Demand Market Size Analysis Report - Market Share, Forecast Trends and Outlook (2024-2032)

Global Video-on-Demand Market Growth

Video-on-demand services refer to media distribution channels that allow users to access visual content across devices for immediate viewing. These services allow users to decide when, where, and how to consume video content.

Video-on-demand market dynamics and trends are driven by the availability of services through monthly or annual subscriptions, as well as /transactional models where consumers pay for the specific content they choose to watch.

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Global Video-on-Demand Market Analysis

The swift digitalisation across various industries and the increasing use of digital devices like smartphones are expected to drive the demand for video-on-demand services in the coming years. This growth is largely due to rising disposable incomes and enhanced living standards, which are boosting the demand for the video-on-demand market.

Furthermore, rapid technological advancements such as the integration of cloud technology and the availability of video-on-demand services on Smart TVs are also anticipated to propel the video-on-demand industry growth in the forecast period.

Global Video-on-Demand Industry Outlook

According to the Ministry of Industry and Information Technology, As of June 2023, China's domestic market had 2.6 million active apps monitored, including those from Android and Apple stores. By June, Android apps had been downloaded cumulatively 69.6 billion times. Moreover, the average weekly online time for internet users in China reached 29.1 hours, up by 2.4 hours since December 2022. This increase contributes to higher video-on-demand market revenue, as enhanced internet connectivity supports the growth of the VoD market in previously underserved areas.

Up to June 2023, the user size of online video in China had reached 1.044 billion, an increase of 13.80 million from December 2022. The number of short video users increased to 1.026 billion, up 14.54 million from December 2022. As of June 2023, the user size of live streaming in China had reached 765 million, up 14.74 million from December 2022, accounting for 71.0% of all Internet users. Among them, 194 million were users of live-streaming reality shows, an increase of 6.57 million in six months, representing 18.0% of total netizens, as reported by the China Internet Network Information Centre.

The Department of Infrastructure, Transport, Regional Development, Communications, and the Arts reported that in Australia, on average, households pay for 2.40 online subscription services. The number of households with access to at least one online subscription service remained stable in 2022 at 81%, compared to 79% in 2021.

According to the Global System for Mobile Communications, the Mobile Economy in Europe is experiencing steady growth. The number of unique mobile subscribers is expected to grow from 496 million in 2022 to 507 million by 2030. Likewise, mobile internet users are anticipated to rise from 464 million in 2022 to 479 million by 2030. This growth will boost video-on-demand industry revenue, as expanding internet access, particularly in developing countries, increases the potential customer base for VoD services and creates more video-on-demand market opportunities.

According to the World Bank, internet usage in Italy has grown from 68% in 2019 to 85% in 2022. Similarly, in Germany, the proportion of individuals using the Internet has increased from 88% in 2019 to 92% in 2022.

Increasing internet usage and preference for on-demand content fuel the growth of the video-on-demand industry.

• Various subscription models and pay-per-view options cater to diverse consumer preferences.
• Ability to access content globally expands the market’s potential customer base.

Numerous providers in the market create fierce competition and can lead to price wars.

• High costs for acquiring and licensing content can impact profitability.
• Content piracy poses significant threats to revenue and market integrity.

Growth in internet access in emerging economies presents new opportunities for the video-on-demand market.

• Investing in original content can differentiate services and attract subscribers.
• Innovations in streaming technology and user experience can enhance service offerings.

Evolving digital content regulations may affect operations and licensing.

• Economic challenges could lead to reduced consumer spending on discretionary services.
• Overwhelming choices and subscription costs might lead to consumer fatigue and cancellations.

Key Players in the Global Video-on-Demand Market and Their Key Initiatives

Amazon Web Services, Inc.

• Expanded edge computing capabilities to reduce latency for streaming services. 
• Integrated AI-driven analytics tools to meet the growing demand of the video-on-demand market.

Netflix, Inc.

• Launched gaming services, offering interactive content.
• Formed strategic partnerships to increase the subscriber base.

The Walt Disney Company (Disney+)

• Added a vast array of new content from Disney’s extensive library.
• Enhanced streaming technology for better video quality to capture the video-on-demand market opportunities.

Apple Inc.

• Improved user interface and added features for a more seamless viewing experience.
• Formed partnerships with top creators and directors to produce high-quality content.

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Global Video-on-Demand Industry Segmentation

“Global Video-on-Demand Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Business Model

• Transactional Video-on-Demand (TVoD)
• Subscription Video-on-Demand (SVoD)
• Others

Market Breakup by Application

• Media and Entertainment
• Education and Training
• Health and Fitness
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

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Video-on-Demand Market Share

Based on the business model, the subscription segment is predicted to hold a significant video-on-demand market share in the industry. This growth can be attributed to the growing preference for subscription video-on-demand services, such as Amazon Prime and Netflix, among consumers. In addition, another major factor contributing to the popularity of SVoD services is the launch of new shows and films exclusively on these platforms.

Meanwhile, transactional video-on-demand services are also witnessing a huge demand, as these services allow viewers to buy or rent the content they wish to view at affordable prices. These factors are expected to contribute to the overall growth of the video-on-demand industry in the forecast period.

Leading Companies in the Video-on-Demand Market

The company’s focus on cloud computing, providing a diverse array of services such as computing power, storage solutions, and database management.

• Amazon Web Services, Inc. 
• Netflix, Inc. 
• The Walt Disney Company (Disney+) 
• Apple Inc.  
• Zee Entertainment Enterprises Limited