Video On Demand Market Estimated To Witness a Phenomenal Growth by 2025
Video on Demand (VoD) is a system that permits users to select, watch, and listen to videos and audio content at their convenience with the help of Internet Protocol Television (IPTV) over broadband connection. Apple TV and Telstra T-Box are some of the most widely used video on demand services. IPTV service is responsible for converting television signals into computer data. Hence, IPTV provides information in IP format. So channels are programmed in IP format and the data is flowed to the television over a set top box or similar device that acts as a decoder. IPTV provides an extensive range of videos and accessibility to various devices, as well as enables users to control the time spent on watching videos.
Increasing adoption of digital media across the globe, attributed to the rising utilization of mobile devices and proliferation of high speed broadband connectivity, is driving growth of the video on demand market. For instance, in the U.S., digital media consumption is increased significantly due to the presence of leading digital media players such as Netflix, Hulu, Amazon, and Apple TV.
Request for Sample Copy of this Report :
Growing adoption of mobile devices is expected to augment demand for digital media consumption, in turn driving growth of the global VOD market. According to Coherent Market Insights analysis, the global smartphone market witnessed growth of over 15% and over 2 billion mobiles were sold globally in 2016. Increasing adoption of mobile devices is consequently expected to increase the use internet access. For example, in India, the number of internet users grew by around 21% in 2016. This will in turn, provide consumers with information according to their choice, entertainment, and social activity, at any given place and time. According to Coherent Market Insights’ analysis, as of 2016, the global audio and video traffic accounted for over 80% of the global internet traffic.
Emerging economies are expected to offer significant potential for market growth, owing to rapid development of internet connectivity enabled infrastructure
The U.S., Western Europe, Japan, and few emerging economies such as China, are striving to develop 5G infrastructure. For instance, in June 2017, China Academy of Information and Communications Technology, forecasted the combined expenditure of the three domestic network operators to reach around 46 billion in 2023. 5G technology is expected to reach commercialization by 2022, specifically in developed economies. This is further expected to boost the existing video streaming market over the forecast period, for both, enterprise and recreational purposes.
Major players operating in the global video on demand market include Alcatel-Lucent, Fujitsu, ZTE Corporation, Ericsson, Huawei Technologies, Akamai Technologies, Inc., Avaya, Level 3 Communications, AT&T, and Cisco.
Request for Table of Content of this Report :
You may be interested
Multiplexed Diagnostic Market Future Demand Analysis with Forecast 2018 to 2026Mohit Joshi - December 18, 2018
Multiplexed Diagnostic Market Report 2018 look into the study is an exceptionally tenacious examination on aggressive scene investigation, prime makers, showcasing procedures examination, Market Effect Factor Analysis…
Nerve Biologic Products Market Benefit and Volume 2018 with Status and Prospect to 2026Nitin Gaydhane - December 18, 2018
Nerve Biologic Products Market Report 2018 look into the study is an exceptionally tenacious examination on aggressive scene investigation, prime makers, showcasing procedures examination, Market Effect Factor…
Citrus Flavors Market 2018-2026: Growth Rate, Market Drivers and Opportunities EvaluationAmol Bade - December 18, 2018
Citrus Flavors Market Report 2018 look into the study is an exceptionally tenacious examination on aggressive scene investigation, prime makers, showcasing procedures examination, Market Effect Factor Analysis…