Video on Demand Market Size

Video on Demand Market Size

Video on Demand (VoD) Market size exceeded USD 55 billion in 2019 and is anticipated to grow at over 15% CAGR between 2020 and 2026. Real-time streaming of high-quality video using smartphones and smart TVs is driving the market growth. Furthermore, the increase in consumer spending and recent technological advancements in internet speed will positively impact the market expansion.

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Video on demand providers such as Netflix, Amazon prime video, and HBO are integrating AI into their platforms to analyze the browsing history of the viewers. It helps market players to personalize and recommend content for each viewer. AI streamlines all operations around the content, including ad-detection, placement, and removal. AI keeps all media content in line with a number of regulations including privacy violation legislation, regional age-sensitive content restrictions, technical content parameters, and similar compliances.

The coronavirus (COVID-19) pandemic has positively impacted the market. Consumers across the globe are spending a significant amount of time on various screen such as mobiles, televisions, and tablets helping market participants to expand their subscription through digital advertising. The market leaders are expected to increase their subscriber base during the forecast period due to strict lockdown regulations across the globe.