The Global Video on Demand (VoD) market accounted for US$32.55 billion in 2018. Ease of access to high fidelity data networks, vertical integration by social media platforms and the proliferation of mobile computing devices are the major factors driving market growth, according to Research and Markets.
However, high bandwidth requirements and the threat of video content piracy are factors restraining market growth, the research group adds.
Based on component, the Internet Protocol Television (IPTV) segment is likely to experience huge demand as it is one of the safe and reliable approaches to subscribe to videos and other different services. IPTV services include requested videos and interactive TV.
Research and Markets says the Quality of Service (QoS) is maintained through network management, bandwidth provisioning, and routing management. It’s usually funded and supported by enormous telecom providers, who want to make a substitution product for digital cable and satellite services, adds the research group.
By geography, Asia Pacific is set to experience lucrative growth during the forecast period, as it’s a huge market with culturally and economically expanded clients who have varying content utilization patterns, content, and payment requests. China and Japan are the two significant countries contributing to market development.
The proliferation of smart devices, broadband, and internet connectivity, which is augmented by the emergence of advanced technologies, such as 5G, 4G, developed payment infrastructure, and a dynamic local content ecosystem, are driving the market.