China Video on Demand Market Size Will Grow Profitably By 2032

Overview of the Video on Demand Market:

Video on Demand (VOD) is a media distribution system that allows users to access videos, television shows, and films without the need for a traditional video playback device and a fixed broadcasting schedule. In the past, over-the-air programming was the most common form of media distribution. However, with VOD, users can watch content whenever they choose, without being restricted by live or scheduled broadcasts.

The popularity of VOD in China is driven by the rising demand for continuous streaming of data at users' convenience and time, without the need for downloading. The increased access to multimedia devices and the internet has led to sharps increase in online video traffic. Domestic video platforms in China are catering to these needs by offering a variety of options to entertain consumers.

In China's video on demand market, there is fierce competition among the approximately 200 online sites, leading to rising expenses for content production. However, the rising popularity of local content and the increasing availability of affordable internet access contribute to the exponential growth of China's VOD market.

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The major players in the market include companies like,

·       Alphabet, Inc. (California, US)

·       com, Inc. (Washington, US)

·       Hulu LLC (The Walt Disney Company) (California, US)

·       AT&T, Inc. (Warner Media, LLC and Discovery, Inc.) (Texas, US)

·       Netflix, Inc. (California, US)

·       Apple, Inc. (California, US)

·       Comcast Corporation (Philadelphia, US)

·       Facebook, Inc. (California, US)

·       Telefonaktiebolaget LM Ericsson (Stockholm, Sweden)

·       Verizon Communications Inc. (New York, US)

Global Video on Demand Market Size and Growth

The video on demand market size is projected to grow from USD 85.2 billion in 2023 to USD 324.7 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 18.20% during the forecast period (2023 - 2032).

The increasing adoption of mobile phones, surging internet penetration, and rising demand for subscription-based TV shows, movies, and documentaries are driving the growth of the market.

Factors Driving the Growth of the Video on Demand Market

The growth of the video on demand market is fueled by several factors. These include the increasing adoption of mobile phones, surging internet penetration, rising demand for subscription-based on-demand videos, and the shift from linear TV to online streaming platforms. The availability of high-speed internet and improved connectivity also contribute to the growth of the market.

The video on demand (VoD) market is a rapidly growing segment of the digital media industry. It offers consumers access to various types of content, including movies, TV shows, sports, and music, through online streaming platforms. The market comprises revenues, users, average revenue per user, and penetration rates. Revenues are generated through purchases and subscriptions.

Conclusion

The video on demand market is experiencing significant growth globally. Local video on demand services is gaining popularity by offering region-specific content, and the increasing adoption of mobile phones and internet penetration are driving the demand for subscription-based on-demand videos. The market is projected to continue growing in the coming years, with North America expected to account for the largest share of the market.

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