Demand for Personalized VOD is increasing and the Global Market Growing at a CAGR of 5.29% from 2024 to 2029

Global VOD Market Overview

According to Global Market Monitor, the global VOD market size will be $34.09 billion in 2024 with a CAGR of 5.29% from 2024 to 2029.

The video-on-demand market is a part of the global movies and entertainment market. The global movies and entertainment market includes companies that engage in producing and selling entertainment products and services, including companies engaged in the production, distribution, and screening of movies and television shows; and producers and distributors of music, entertainment theaters, and sports teams. It also includes companies producing entertainment content streamed online. End users also prefer watching entertainment shows, sports, and movies through video on demand.

Regional Market

China's VOD market is one of the largest and fastest growing in the world, driven by a large population, increasing Internet penetration, and a rapidly expanding middle class. Major domestic players such as iQiyi, Tencent Video, and Youku dominate the market, benefiting from strong local content production and strategic partnerships with Chinese studios. These platforms offer a wide range of content, including TV dramas, movies, variety shows, and exclusive original works tailored for Chinese audiences. The proliferation of smart devices, broadband, and Internet connectivity, as well as the emergence of advanced technologies such as 5G, 4G, developed payment infrastructure and dynamic local content ecosystems are driving the VOD market forward. In addition, the Asia Pacific region offers potential growth opportunities thanks to the boom in video-on-demand applications, availability of high-speed Internet plans, increasing use of digital media among organizations as traditional broadcasters are moving their services online, and growing awareness of business productivity.

Development in the cloud is projected to provide growth opportunities to the market. By adopting a cloud-based model, Video on Demand providers can entirely rely on the cloud service for networking and infrastructure. Therefore, the rapid development of high-speed internet infrastructure and an increasing number of on-demand service providers are the major factors driving the growth of the video-on-demand service market.

Market Drivers

The global VoD market is primarily driven by to growing adoption of mobile devices for watching online videos and increasing internet-based consumer spending. In addition, the rapid developments in high-speed networks are enabling video-on-demand service providers to deliver faster downloading and streaming services to users. The adoption of mobile TV and multi-screen services for content viewing is increasing. Online media consumption has shown enormous growth over the past few years. This has been the primary factor in the rise in VOD services.

Market Limitations

Piracy is one of the major concerns of the VoD market. Unauthorized and illegal downloading, and sale of content are hampering the growth of the VoD market. Players operating in the global market have difficulty in achieving negotiable content licensing due to piracy issues and low capacity associated with set-top boxes are the major restraining factors that can hamper the video-on-demand market growth.

Drivers	The Benefits of Video-on-Demand
	The rapid development of high-speed internet infrastructure and an increasing number of on-demand service providers
	Technological development
Challenges	Growing threat of video content piracy
	High cost of content creation & Relative regulations

For more industry information, please refer to our latest released "2023 Global VOD Market Analysis Report, Key Competitors, Market Effect Factors, Growth, And Forecast".