As per the report by Fortune Business Insights, the global Video on Demand Market Size is projected to reach USD 304.74 billion by 2030, at a CAGR of 17.7% during the forecast period.
Pune, India, Aug. 01, 2023 (GLOBE NEWSWIRE) -- According to Fortune Business Insights, global Video on Demand Market Size was valued at USD 82.77 billion in 2022 and is projected to grow from USD 97.19 billion in 2023 to USD 304.74 billion by 2030, exhibiting a CAGR of 17.7% during the forecast period.
The expansion is impelled by the growing demand for subscription-based documentaries, movies, and TV shows Fortune Business Insights™ provides this information in its research report, titled “Video on Demand Market, 2023-2030”.
Key Industry Development:
Deutsche Telekom and Ericsson demonstrated the usage of 5G end-to-end network slicing in a customer-centric service delivery model for video streaming.
Request a Free Sample PDF - https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/video-on-demand-market-100140
Key Takeaways-
-
Video on Demand Market is expected to flourish & reach USD 304.74 Billion in 2030
-
VoD provides users with easy access to an online video library through any device that is compatible.
-
While consumer requirements and preferences evolve over time, the rising need for value and usability does not.
-
The increasing demand for value and usability does not change over time, even when consumer preferences and requirements fluctuate.
-
Video on Demand Market Size in North America was USD 32.80 Billion 2022
Discover the Leading Players Featured in the Report-
“Google LLC (U.S.), Amazon.com, Inc. (U.S.), Hulu LLC (The Walt Disney Company) (U.S.)AT&T, Inc. (Warner Media, LLC and Discovery, Inc.) (U.S.), Netflix, Inc. (U.S.), Apple, Inc. (U.S.), Comcast Corporation (U.S.), Facebook, Inc. (U.S.), Telefonaktiebolaget LM Ericsson (Sweden), Verizon Communications Inc. (U.S.)”
Report Scope & Segmentation-
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 17.7% |
| 2030 Value Projection | USD 304.74 Billion |
| Base Year | 2022 |
| Video on Demand Market Size in 2022 | USD 82.77 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 120 |
| Segments covered | Revenue Model, Content Type, Regional, |
Browse Complete Report Details- https://www.fortunebusinessinsights.com/industry-reports/video-on-demand-market-100140
Drivers and Restraints:
Growing Adoption of Online Streaming Applications and Smart Devices
The video on demand market growth is being propelled by the growing penetration of smart TVs and smartphones and the increasing adoption of OTT platforms. Besides, the data usage is set to register appreciable rise with growing popularity smartphones, leading to an upsurge in online video consumption.