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Assessment of the $29+ Bn Video on Demand in Hospitality Global Market 2023-2027: Leading Players are Apple, Huawei, Netflix and Amazon Among Others


DUBLIN, June 29, 2023 /PRNewswire/ -- The "Video on Demand in Hospitality Global Market Report 2023" report has been added to  ResearchAndMarkets.com's offering.

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The global video-on demand in the hospitality market grew from $24.2 billion in 2022 to $29.54 billion in 2023 at a compound annual growth rate (CAGR) of 22.1%.

The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The video on demand in the hospitality market is expected to grow to $65.03 billion in 2027 at a CAGR of 21.8%.

Technological advancements are a key trend gaining popularity in a video on demand in the hospitality market. Major companies operating in the video-on-demand in the hospitality market are advancing new innovative products to gain a competitive advantage.

For instance, in October 2021, TELEV8 LLC, a US-based technology company, launched LiveTV, a TVaaS platform designed for reducing the overall cost of delivering content to hotels and modernize the free-to-guest TV experience. It includes features such as pause/play, rewind/fast forward, replay TV, search, and video on-demand. This platform delivers content in a secure, simple, bandwidth-efficient manner, allowing hotels to continue offering free TV to guests at a lower cost.

In April 2021, VITEC, a France-based company operating in IPTV (Internet Protocol television), digital signage, and video streaming technologies acquired Anevia for an undisclosed amount. With this acquisition, VITEC had an opportunity to unite the hospitality and enterprise components of the Anevia business with VITEC in order to further expand its offering in the enterprise and hospitality segments. Anevia is a France-based provider of innovative multiscreen solutions for the delivery of live TV, streaming video, time-shifted TV, and video-on-demand services via OTT and IPTV software providing services in hospitality, healthcare, and corporate businesses sectors.

North America was the largest region in the video on demand in the hospitality market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the video on demand in the hospitality market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the video on demand in the hospitality market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Increasing penetration of smartphones and tablets is expected to propel the growth of video-on-demand in the hospitality market going forward. 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.

For instance, according to Bankmycell, the US-based cost comparison company, the world's smartphone user base is expected to reach $6.648 billion by 2022, representing 83.37% of the global population. The United States has the highest smartphone penetration, with 81.60 % of its population, or 270 million people, owning a smartphone. Therefore, the increasing penetration of smartphones and tablets is driving the growth of video-on-demand in the hospitality market.

Key Topics Covered:

Executive Summary

Video on Demand in Hospitality Market Characteristics

Video on Demand in Hospitality Market Trends And Strategies

Video on Demand in Hospitality Market - Macro Economic Scenario

Video on Demand in Hospitality Market Size And Growth

Video on Demand in Hospitality Market Segmentation

Video on Demand in Hospitality Market Regional And Country Analysis

Asia-Pacific Video on Demand in Hospitality Market

Video on Demand in Hospitality Market Competitive Landscape And Company Profiles


Key Mergers And Acquisitions In The Video on Demand in Hospitality Market

Video on Demand in Hospitality Market Future Outlook and Potential Analysis


For more information about this report visit https://www.researchandmarkets.com/r/nxdas2

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ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.


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