The global video-on-demand market revenue was around US$ 84.6 billion in 2022 and is anticipated to reach US$ 387.5 billion by 2032, growing at a compound annual growth rate (CAGR) of 16.7% during the forecast period from 2023 to 2032.

Video on Demand (VOD) is a digital entertainment distribution system that allows users to stream and access video content at their comfort. Unlike conventional scheduled programming or television broadcasts, it allows viewers to pick and watch TV shows, movies, and other video content whenever they want. Video on-demand services like Hulu, Netflix, or Amazon Prime Video, show a vast library of content that be accessed on different devices, including tablets, smartphones, smart TVs, and computers.

Factors Influencing Market Growth

- The video on demand market is anticipated to notice notable growth because of the rise in usage of mobile data subscriptions and smart devices, the increase in popularity of live streaming, and the growth in several streaming services.

- The availability of open-source video platforms hinders the growth of the video on demand market.

- The surge in the penetration of smartphones is anticipated to deliver lucrative opportunities for the growth of the video on demand market during the forecast period.

Impact of COVID-19

The impact of COVID-19 pandemic had a significant influence on the video-on-demand (VOD) industry. With social distancing and lockdown measures in place, people worldwide shifted to video-on-demand services as their prior source of entertainment. This led to a significant surge in demand for video-on-demand content, resulting in augmented viewership and subscriptions across platforms like Disney+, Netflix, and Amazon Prime Video.

These platforms adjusted by revving content production and ensuring exclusive deals to cater to the rising audience. Also, the pandemic disrupted cinema releases and content production schedules, encouraging studios to release films directly on video-on-demand platforms, and revving the trend of day-and-date releases.

Regional Analysis

In 2022, North America dominated the global video on demand market in terms of revenue because of the potential consumer for TV shows and movies, and the adoption of smartphones among the population, leading to augmented demand for video-on-demand services. Also, the overall availability of high-speed internet and the rising prevalence of mobile data plans make it more suitable for people to access video-on-demand services.

Also, Asia-Pacific is anticipated to notice the fastest growth during the forecast period because of the wide range of cultures, demographics, and languages which lead to the innovation of region-specific or culturally appropriate shows and content. Also, companies in the Asia-Pacific region present affordable subscription plans, making it cost-effective for users to stream content.

Leading Companies

The leading prominent companies profiled in the global video-on-demand market are: -

- Google LLC
- Cisco Systems, Inc.
- Fujitsu
- Netflix, Inc.
- Amazon.com, Inc.
- YouTube
- Comcast
- Apple, Inc.
- Disney
- Hulu LLC.
- Other prominent key players

Segmentation Outline

The global video-on-demand market segmentation focuses on Component, Monetization Models, End User, and Region.

Segmentation based on Component

- Service
- Solution

Segmentation based on Monetization Models

- Subscription-based
- Advertising-based
- Transaction-based

Segmentation based on End User

- Media, Entertainment, and Gaming
- Travel and Hospitality
- Education
- Others

Segmentation based on Region

- North America
- The U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Singapore
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa