Video on Demand Market Size was valued at USD 127.67 billion in 2023 and is projected to grow from USD 144.48 billion in 2024 to USD 369.83 billion by 2031, exhibiting a CAGR of 14.37% during the forecast period.
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Market Overview:
The Video on Demand (VOD) market has witnessed exponential growth in recent years, transforming the way content is consumed worldwide. VOD services offer users the flexibility to access a vast library of movies, TV shows, documentaries, and other video content anytime, anywhere, and on a variety of devices. This paradigm shift from traditional linear TV to on-demand streaming has created new opportunities for content creators, distributors, and service providers.
Recent Developments (Partnerships/Agreements/ Product Launch)
In February 2025, Fox Corporation announced plans to introduce a stand-alone subscription-based streaming service by the end of the year. Despite previously avoiding significant investments in premium content for broadband audiences, the company now recognizes new opportunities in the streaming market and is preparing to expand its digital offerings.
Key Market Drivers:
Rising Internet Penetration and Broadband Adoption: The increasing availability of high-speed internet and affordable data plans has enabled more consumers to access and stream video content seamlessly.
Proliferation of Smart Devices: The widespread adoption of smartphones, tablets, smart TVs, and other connected devices has provided consumers with multiple avenues to access VOD services.
Changing Consumer Preferences: Modern consumers demand personalized and on-demand entertainment experiences. VOD services cater to this demand by offering a vast selection of content, personalized recommendations, and flexible viewing options.
List of Key Companies in Video on Demand Market:
- NETFLIX
- com, Inc.
- Disney
- Warner Bros. Discovery, Inc
- Hulu, LLC
- Apple Inc.
- Paramount
- NBCUNIVERSAL MEDIA, LLC.
- FOX
- Rakuten Group, Inc.
- Eros Media World
- Zee Entertainment Enterprises Limited
- Tencent Holdings Ltd.
- iQIYI, Inc.
- Fandango Media, LLC
Market Trends:
Personalization and Recommendation Engines: VOD platforms are increasingly using data analytics and artificial intelligence (AI) to personalize content recommendations and enhance user engagement.
Live Streaming: The integration of live streaming capabilities into VOD platforms is growing, particularly for sports, news, and events.
Interactive Content: VOD services are experimenting with interactive formats, such as choose-your-own-adventure stories and gamified experiences, to enhance user engagement.
Bundling and Partnerships: VOD providers are forming partnerships and bundling their services with other offerings, such as internet and mobile plans, to attract and retain subscribers.
Future Outlook:
The report projects continued growth for the global VOD market in the coming years. The market is expected to evolve with ongoing technological advancements, changing consumer behavior, and increasing globalization of content. VOD services are poised to play an increasingly important role in the media and entertainment industry, transforming the way people consume and interact with video content.
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