The global video on demand market is expected to witness significant growth over the next six years owing to enhanced scalability and enabling time-shifting view. The ability to reach audiences on multiple devices and delivering greater viewer experience are major forces driving the market growth. Several video programs are offered by Video on Demand (VoD) services, which include entertainment, films sports, and educational programs. While television is considered a broadcast technology, VoD offers a unicast transmission to the consumers.
The Video on Demand (VoD) market is expected to emerge as a successful revenue generator for content providers and cable operators worldwide. VoD solutions help viewers reach any connected device, providing a key competitive advantage in terms of consumer reach. However, services offered by the Video on Demand market face challenges such as multiple screen format management, digital rights management (DRM), tailoring content as per different operating systems, and diversified bit rates. Compatibility with next-generation devices, enhanced viewer engagement, and payment systems are expected to serve as key opportunity areas over the forecast period. Combining on-demand content with live streaming events can help overcome challenges faced by the VoD market. In addition, personalization of VoD services is facilitated by the accessibility of Big Data that helps serve customers specific to their needs and preferences.
Players such as television providers, technological outfits, movie studios, and retailers are involved in providing services for the Video on Demand market. VoD providers have consolidated their grounds in the highly competitive market through acquisitions and mergers to attain better market visibility and develop feature-rich solutions.
