Video on Demand Market Evolving Technology, Segmentation and Industry Analysis by 2026

Jul 26, 2021

Video on demand (VoD) market size is expected to witness a lucrative growth in the coming years owing to the increasing internet penetration and growing smartphone adoption globally.

Delaware , United States - July 26, 2021 /MarketersMedia/ —

Rapid proliferation of digital multimedia technologies and internet services is contributing towards video on demand (VoD) market forecast. VoD is gaining major demand as it allows users to select and watch video content of their choice on their laptops, TV and other gadgets through a real-time streaming protocol, anywhere and anytime.

Globally, there is a sharp rise in the number of smartphone users streaming video content online. As per World Advertising Research Centre reports, approximately 2 billion individuals accessed internet through their smartphones alone in 2019. Increased internet penetration along with growing adoption of smart gadgets will support business growth.

Integration of technologies, such as AI and ML to user preferences and deliver personalized, advent of wireless technologies like 5G and growth of OTT platforms will further fuel VOD proliferation. Moreover, the ongoing COVID-19 pandemic has boosted VoD development owing to the rise in number of viewers watching content online due to temporary closure of entertainment centres and theatres. According to estimates, global video on demand market size will cross the USD 175 billion mark by 2026.

Advertisement-based revenue model

Advertisement-based revenue model segment in the video on demand market is expected to gain major traction in the coming years due to rise in the number of people using video platforms such as YouTube. These platforms generally offer free content to users and make profits from the ads played during the course of the content that is being watched. Google reported that video platform makes revenue of a whopping USD 15 billion in advertising alone and majority of it goes to advertisement creators.

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VoD in healthcare training application

For healthcare practitioners, the incorporation of live streaming video from a patient’s home to surgical ORs has brought transformational possibilities in revolutionizing healthcare accessibility for patients. VoD penetration in healthcare sector has aided knowledge readiness for caregivers; improved care coordination & patient engagement; increased collaboration among care teams and lowered operational costs for healthcare facilities.

The on-demand videos can be assigned to patients through access to the healthcare portal encompassing videos from aftercare, recovery in surgeries, preventative care, precautionary care for high-risk conditions to ambulatory care. The patients can view the video as per their convenience, on any device without network connectivity issues.

Established industry players in Europe

Europe Video on Demand market is anticipated to witness growth due to presence of major players focusing on catering to consumer demand and expanding their presence in the region. For instance, while Disney Plus is offering its service in Europe, Starz, which launched in the U.K., France and Germany 2019, is expanding to more markets.

In February 2019, Dplay by Discovery Inc. was launched in several countries including the Netherlands, Spain, the Nordics and Italy. HBO also made available its Portuguese version in the same years. The growing competition among players to offer better services to customers will foster Europe Video on Demand market size.

In education and training, VoD also finds application in live-stream surgical procedures as means of highly engaged learning experience in real-time for staff and students. The recorded procedures also create an opportunity for learning, self-improvement and training for surgical teams, but also enhances treatment quality through accountability – deterring unprofessional behaviour and malpractices. All the live video streaming can be recorded and archived with on-demand access for offline viewing later on.

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Source URL: https://marketersmedia.com/video-on-demand-market-evolving-technology-segmentation-and-industry-analysis-by-2026/89038638

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