The video-on-demand service is a growing market. This system allows the user to select his desired channels or contents according to one’s preferences.
In a click, the video-on-demand user is fully empowered to control what they wanted to view. The demand in this market is continuously increasing primarily because of the convenience that it offers to the subscribers.
Using the video-on-demand system, the market subscribers can choose to use the pay-per-view. They can also opt to subscribe to monthly and annual video plans. To add, it also allows the users to stream and download content at their desired time.
What makes this more fun and exciting is that it can also transfer encoded contents (from the server) to the terminal set (subscriber’s end).
The Video-on-demand’s Booming Market
Globally, the video-on-demand market is expected to reach almost $74 billion by the year 2020. The Compound annual growth rate is estimated to grow by 9.63%.
Analysts reported that North America owns the major share of the market. While, the Asia Pacific region is reported as the highest growing region.
The Problems of Increasing Demand
The growing demand for streaming and video-on-demand can cause major challenges on the quality of the service. The market has passed across personal entertainment, long distant education, and other needs.
The flexibility and convenience of the service have converted homes to use video-on-demand, too.
The subscriber’s empowerment is the major reason for video-on-demand market growth.
In the future, investors might be forced to build more internet infrastructures to answer the increasing demand.
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