25 / 08 / 2016 Video on Demand ( VOD ) Market Worth $ 61.40 Billion by 2019
Major forces driving this market are reaching audiences on any device , delivering best possible viewer experience , enabling time‐shifting view , and unmatched scalability . VOD solutions helps the viewers to reach any connected device , offering a key competitive advantage in terms of consumer reach despite of various challenges involved such as diversified bit rates , operating systems , digital rights management ( DRM ) and multiple screen formats . As customers want to acquire large number of programs , they demand for high quality videos and this is where an emergence of OTT and IPTV occur . Therefore , TV no longer considers itself a push industry , because viewers are now pulling the content they require . As the TV experience is changing rapidly from a traditional linear TV , OTT viewers are surpassing IPTV viewers . The VOD providers are consolidating their grounds in the highly competitive market through mergers and acquisitions to build feature‐rich solutions and attain better market visibility .
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MarketsandMarkets believes that video on demand services are helpful in offering internet , telephone , broadcasting and television programs to various industries . It enables the cable operators or users to access the combined services which are made possible by accessing to the internet protocol . Diversified industries including academics , government , banking , healthcare , media and transportation use VOD service for education , research , conference and entertainment . VOD helps in minimizing the expenditure of entry and delivery into internet protocol . The challenges occurring while delivering VOD can be overcome by combining on‐demand content with live streaming events and various similar solutions .
MarketsandMarkets forecasts the Video on Demand Market to grow from $ 25.30 billion in 2014 to $ 61.40 billion in 2019 , at a CAGR of 19.4 % during the forecast period . In terms of regions , North America is expected to be the biggest market in terms of revenue contribution , while Asia‐Pacific ( APAC ) and Middle East and Africa ( MEA ) are expected to experience increased market traction , during the forecast period .
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