Analysts at Future Market Insights (FMI) have projected that the rising popularity of video on-demand and the growth of online platforms internationally will mean that the VOD market will reach a value of $263 billion by 2016 (up from $207 billion in 2014). Pay TV services are expected to maintain strong demand during the forecast period of 2014-2020.
The research highlights North America and Western Europe as the largest markets worldwide, with the NorAm VOD market expected to overtake the $100 billion mark by the end of this year. However, the Asia Pacific region — which currently accounts for 13% of the market — is expected to represent nearly a quarter of global VOD business by 2020. FMI also projects Asia Pacific will by then have taken Western Europe’s place as the second-largest market, reaching $80.5 billion.