Written by: Roshan Dwivedi
According to Ameri Research, superb demand for programming in various forms and lengths is going to be a big contributor driving video-on-demand (VOD) market growth making the market worth to be $77.7 billion over the next seven years. Worldwide media consumption occurring in digital formats has had a snowballing effect on the number of digital media players such as Amazon, Netflix, Hulu, Roku, Boxee and Apple TV that has challenged the domination of TV as the utmost entertainment hub. Most viewers added on to their existing TV services rather than replacing them which may impact market growth.
Some factors that created this massive growth opportunity for manufacturers, according to the analyst, was the quick increase of VOD programming preferences whereby viewers can stream or download content from either a traditional TV package or an online source. There has been a rapid growth of VOD programming preferences where viewers stream or download content from either a traditional TV package or an online source and this has created extensive growth opportunities for manufacturers.
AVOD (Ad based video-on-demand) was determined to be the quickest expanding business model segment as unveiled by Ameri Research. It was also revealed that OTT (over-the-top) was the dominant platform segment in 2016 and it is predicted to grow exponentially in the future due to the flexibility that OTT platform offers to enable viewers to watch videos anywhere and any time or everytime on-the-go. The study also revealed that North America was the leading regional market in 2016 accounting for more than 35% of overall revenue share in the same year and the driving force for its regional market growth was determined to be early technology adopters. Read More