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Video on Demand in Hospitality Global market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's video on Demand in Hospitality Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The video on demand in hospitality market size is expected to see exponential growth in the next few years. It will grow to $77.61 billion in 2028 at a compound annual growth rate (CAGR) of 22.5%.” - The Business Research Company
LONDON, GREATER LONDON, UNITED KINGDOM, October 21, 2024 /EINPresswire / -- The video on demand in hospitality market has experienced robust growth in recent years, expanding from $28.6 billion in 2023 to $34.46 billion in 2024 at a compound annual growth rate (CAGR) of 20.5%. The growth in the historic period can be attributed to increased demand for in-room entertainment, growth in high-speed internet access, adoption of smart tvs and connected devices, expansion of content libraries and streaming services, rise of personalized guest experiences.
What Is The Estimated Market Size Of The Global Video on Demand in Hospitality Market And Its Annual Growth Rate?
The video on demand in hospitality market is projected to continue its strong growth, reaching $77.61 billion in 2028 at a compound annual growth rate (CAGR) of 22.5%. The growth in the forecast period can be attributed to increaseing integration of voice-activated controls for vod, emphasis on contactless and mobile-based vod access, growth in personalized content recommendations, increased adoption of 4k and high-resolution content, expansion of vod services for meetings and events.
Explore Comprehensive Insights Into The Global Video on Demand in Hospitality Market With A Detailed Sample Report:
Growth Driver Of The Video on Demand in Hospitality Market
Increasing penetration of smartphones and tablets is expected to propel the growth of video on demand in the hospitality market going forward. A tablet refers to a wireless portable computer with a touchscreen interface. A smartphone refers to a cellular phone that includes an integrated computer as well as an operating system, web browsing, and the ability to run software applications. The guest in hotels uses their smartphone or tablet to scan a QR code on the TV to connect the device to the display. The incredible streaming options provided by Video on Demand allow the hospitality industry an unparalleled glimpse at the newest films, fresh from the theater, for immediate viewing or pre-order.
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Which Market Players Are Driving The Video on Demand in Hospitality Market Growth?
Key players in the market include Akamai Technologies Inc., Alcatel-Lucent Enterprise, Apple Inc., AT&T Inc., Avaya Holdings Corporation., Cisco Systems Inc., Telefonaktiebolaget LM Ericsson, Huawei Technologies Co Ltd., Netflix Inc., Amazon. com Inc., Nokia Networks, The Walt Disney Company, ZTE Corporation, Google LLC, Broadpeak Technologies Pvt Ltd., Comcast Technology Solutions, Conax Technologies, Deluxe Entertainment Services Group, Edgeware AB, Elemental Technologies LLC, Espial Group Inc., Harmonic Inc., Imagine Communications Corp., Inca Networks Inc., Kaltura Inc., Minerva Networks Inc., Muvi LLC, NeuLion Inc.
What Are The Emerging Trends Shaping The Video on Demand in Hospitality Market Size?
Major companies operating in the video on demand in hospitality market are developing innovative products such as video platforms to meet larger customer bases, more sales, and increase revenue. A video platform, also known as an online video platform (OVP) or video hosting service, refers to a software or service that allows users to upload, store, manage, playback, and distribute video content over the internet.
How Is The Global Video on Demand in Hospitality Market Segmented?
1) By Solution: Pay TV, Internet Protocol Television, Over The Top
2) By Service: Training and Support, Professional Services
3) By Delivery Model: Laptops and Desktops, Smart phones and Tablets, Smart TV
4) By User Type: Hotels, Cruise or Luxury Yachts, Day Care Center, Other End Users
Geographical Insights: North America Leading The Video on Demand in Hospitality Market
North America was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the report during the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Video on Demand in Hospitality Market Definition
Video on demand in hospitality refers to a technology that allows guests to choose and watch video content on their TVs or computers and use videoconferencing for hospitality purposes. TV typically uses broadcast technology, whereas video on demand uses unicast transmission. A variety of video programming is available on video on demand, including sports, entertainment, instructional, and feature films.
Video on Demand in Hospitality Global Market Report 2024 from The Business Research Company covers the following information:
.Market size data for the forecast period: Historical and Future
.Macroeconomic factors affecting the market in the short and long run
.Analysis of the macro and micro economic factors that have affected the market in the past five years
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global video on demand in hospitality market report covering trends, opportunities, strategies, and more
The Video on Demand in Hospitality Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on video on demand in hospitality market size, video on demand in hospitality market drivers and trends and video on demand in hospitality market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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The Business Research Company
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