Written by: Roshan Dwivedi
The team of analysts at Future Market Insights (FMI) have some incredible numbers at their disposal. FMI has projected that the increasing popularity of VOD services and the growth of online platforms globally will mean that the VOD market will reach a value of $263 billion by 2016, growing from $207 billion in 2014.
Pay TV services, on the other hand, are more likely to maintain strong demand during the forecast period form 2014-2020.
The new research is focused on North America and Western Europe, presenting them as the largest markets worldwide, with the North American VOD market prepared to cross the $100 billion mark by the end of this year. The Asia Pacific region accounting for 13% of the market is also ready to represent nearly a quarter of global VOD business by 2020. As per FMI, Asia Pacific will by then have taken Western Europe’s place as the second-largest market, reaching a staggering range of $80.5 billion.
Source : Rapid TV News