Subscription Video on Demand (SVoD) Market Growing at CAGR of 6.2% During the Forecast Period

Rising demands for high definition, on demand video content which is coupled with surging investments in smart education and training sector are some of major factors contributing towards growth of subscription video on demand (SVOD) market globally. The global subscription video on demand (SVOD) market was valued at USD 22.45 billion in 2018 and is expected to reach USD 35.24 billion in 2026, growing at a CAGR of 6.2% during the forecast period.

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Global subscription video on demand (SVOD) industry is gathering tremendous popularity owing to the upsurge in penetration of mobile broadband which has fuelled the adoption of mobile devices for live video content streaming. Additionally, the inclination of youth population towards live sports events as well as health & fitness training is propelling the growth of the SVOD industry especially in emerging economies such as India and China. Moreover, intense competition between service providers has created a need for technological advancement in terms of various user-friendly television applications. Key industry players such as Netflix, Inc. and YouTube, LLC, have used mobile devices to increase the consumption of various digital content which has supported the growth of the subscription video on demand (SVOD) market globally. In addition, consumer preference for affordable pricing model and wide content options is playing a major role in the selection of SVOD service provider. This has benefitted multiple video content service providers, including Netflix and Hulu, are preferred by customers for better pricing and broader content choice. Comparatively, online content services are more affordable than service providers, leading to more demand from various consumer segments.

Key Findings:

• Based on the type, the smartphone segment is expected to grow at the highest CAGR of around 10.2% in the global subscription video on demand (SVOD) market during the forecast period
• Based on the application, the entertainment segment came out as a leading segment for the subscription video on demand (SVOD) market by accounting more than 45% of the total market, in 2018
• On the basis of region, North America led the global IoT market globally by accounting more than 32% share of the global Subscription Video on Demand (SVoD) market in 2018

Recent News:

• In June 2018, United States based AT&T Inc. announced acquisition of Time Warner Inc. This move is undertaken in order to broaden AT&T’s offerings in the direct-to-consumer distribution channel as well as to provide mobile-first entertainment experience for its customers.
• In February 2018, Nine Entertainment (US) reintroduced its 9Now video streaming channel after buying 50% stake in Netflix’s competitor Stan.