Video on demand is a technology that allows TV programs, news, movies and sports events to be delivered directly to a set-top box, PC, IP TV, mobile phone via satellite TV, internet, cable companies etc. on request. Video on demand solutions allow digital video subscribers to select multimedia content of their choice from a vast content library, to watch whenever they choose for up to 24 hours. Viewers can pause, rewind, stop and start viewing content at any time.
Increasing number of on-demand service providers and rapid development of high-speed internet infrastructure in emerging regions are major factors driving growth of the global video on demand service market. However high bandwidth requirement and no offline content availability are restraining the market growth of video on demand service market.
Others segment to dominate the global video on demand service market
Global video on demand service market is categorized on the basis of content type and region. On the basis content type, the market is segmented as animation and others. The others segment is anticipated to lead the global market in the coming years. In during 2017, the others segment reflected a high market valuation of more than US$ 47 Bn and is expected to touch a value as high as US$ 100 Bn by the end of the period of assessment (2027). This segment is projected to grow at a significant CAGR of 7.9% throughout the period of assessment.
The animation segment is expected to grow at a high CAGR during the forecast period
The revenue contribution from the animation segment is anticipated to expand at a CAGR of 9.5% during the forecast period. The animation segment is valued at around US$ 9.8 Bn in 2017 and is estimated to reach a value of more than US$ 24 Bn by the end of the period of assessment.
The animation segment is further segmented as kids, movies and others. Of these, the kids sub segment is expected to be the most lucrative as it reflects high pace as well as high market strength. The kids sub segment largely contributes to the growth of the parent segment and is projected to grow at a noteworthy CAGR of 9.6% throughout the period of forecast. By the end of 2017, this sub segment is expected to display a value of around US$ 5 Bn and is anticipated to reach a market valuation of more than US$ 12 Bn by the end of the year of forecast (2027). The others sub segment in this category is the smallest in terms of market value as well as pace. The others segment is poised to register a CAGR of 8.1% during the period forecast.
The animation content type segment in video on demand service market in North America is projected to grow at a high CAGR of 7.0% during the period of forecast. The others segment in this category is expected to lead the North America video on demand service market. In the Asia Pacific excluding Japan video on demand service market, on the basis of content type, the others segment held a value share of about 81% in 2017, marking itself as the largest segment in this region.
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