Dublin, Dec. 19, 2024 (GLOBE NEWSWIRE) -- The "Video on Demand in Hospitality - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Video on Demand in Hospitality was estimated at US$44.5 Billion in 2023 and is projected to reach US$176.0 Billion by 2030, growing at a CAGR of 21.7% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the Video on Demand (VoD) in hospitality market is driven by several factors, including rising guest expectations for personalized entertainment, advancements in streaming technology, and the integration of digital services in hotels. One of the primary growth drivers is the increasing demand for personalized and high-quality in-room entertainment.
As guests become accustomed to streaming services at home, they expect a similar or superior experience when staying at hotels. VoD systems that offer personalized content, interactive features, and access to popular streaming platforms help hotels meet these expectations, enhancing guest satisfaction and loyalty.
Technological advancements in internet connectivity, such as the deployment of fiber optics and 5G networks, have improved the delivery of VoD services in hospitality. Faster, more reliable internet enables seamless streaming of HD and 4K content, making VoD more appealing to guests. Integration with cloud-based platforms has also improved the scalability and flexibility of VoD systems, allowing hotels to offer a wider range of content and quickly adapt to changing guest preferences. This ability to deliver a diverse array of entertainment options, from movies to live events and interactive experiences, has further fueled the adoption of VoD in the hospitality sector.
The growing focus on digital transformation in hotels has also contributed to market growth. VoD is increasingly seen as part of a broader digital ecosystem that includes in-room automation, mobile apps, and AI-driven guest services. As hotels invest in smart technologies to improve guest engagement and operational efficiency, VoD systems are becoming more integrated with other digital solutions, enhancing the overall guest experience. Additionally, the potential for generating ancillary revenue through pay-per-view movies, exclusive content packages, and in-room advertising has encouraged hotels to adopt advanced VoD solutions.
With ongoing innovations in streaming technology, AI-driven personalization, and integration with smart hotel systems, the VoD market in hospitality is poised for robust growth. These trends, coupled with increasing guest demand for more personalized and diverse in-room entertainment options, make VoD an essential element of modern hospitality strategies focused on enhancing guest satisfaction, engagement, and profitability.
What Are the Emerging Applications of Video on Demand in Hospitality Across Different Settings?
Video on Demand (VoD) is finding expanding applications across a variety of hospitality settings, driven by the need for immersive and personalized entertainment experiences. In hotels and resorts, VoD systems are often integrated into in-room entertainment suites that offer access to a wide range of movies, TV shows, documentaries, and interactive content. High-end hotels leverage VoD to offer exclusive content packages, such as early-release movies, virtual tours, and curated playlists, enhancing the luxury guest experience. Family-friendly resorts often feature VoD systems with children's programming, games, and educational content, catering to families with young guests.
On cruise ships, VoD systems provide a critical source of entertainment during sea days, offering passengers a wide selection of movies, live shows, and ship-specific content like onboard activities, safety briefings, and excursion previews. The integration of VoD with passenger apps allows guests to book activities, make dinner reservations, and view ship maps directly from their stateroom TVs, enhancing convenience and engagement. VoD is also used to stream live events, such as concerts or special performances, directly to cabins, providing an added layer of entertainment during longer voyages.
In boutique hotels and serviced apartments, VoD systems are often tailored to reflect the brand's unique identity, offering niche content that aligns with the hotel's theme, location, or target audience. This includes offering local films, cultural documentaries, and in-depth travel guides that enrich the guest`s experience of the destination. In business hotels, VoD is used to offer not only entertainment but also business-related content, such as virtual conferences, webinars, and professional training videos. This is particularly valuable for business travelers seeking productivity and entertainment during their stay. The expanding applications of VoD across these diverse hospitality settings underscore its critical role in enhancing guest experiences, improving satisfaction, and driving revenue through value-added entertainment services.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players in the Global Video on Demand in Hospitality Market such as Akamai Technologies, Inc., Alcatel-Lucent, Apple, Inc., AT&T, Inc., Avaya, Inc. and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 92 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $44.5 Billion |
| Forecasted Market Value (USD) by 2030 | $176 Billion |
| Compound Annual Growth Rate | 21.7% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Global Economic Update
- Video on Demand in Hospitality - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Rising Demand for Personalized Guest Experience Drives Video on Demand (VoD) Adoption
- Advancements in Smart TV Technology Propel VoD in Hospitality Market Growth
- Expanding Use in Luxury Hotels Sets the Stage for VoD Market Expansion
- Case Overview: Demand for On-Demand Entertainment Enhances VoD in Hospitality
- Focus on Enhancing In-Room Experience Boosts VoD Adoption
- Growing Use in Resort Chains Sustains VoD Demand
- Increasing Adoption in Business Hotels Enhances VoD Demand
- Expanding Use of Cloud-Based Streaming Drives VoD in Hospitality
- Case Overview: Demand for Multilingual Content Propels VoD in Hospitality
- Growing Role in Conference and Event Facilities Enhances VoD Demand
FOCUS ON SELECT PLAYERS:Some of the 36 companies featured in this Global Video on Demand in Hospitality Market report include
- Akamai Technologies, Inc.
- Alcatel-Lucent
- Apple, Inc.
- AT&T, Inc.
- Avaya, Inc.
- Cisco Systems Inc.
- Ericsson
- Huawei Technologies Co, Ltd.
- Netflix, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/uwz85m
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