Dublin, Jan. 09, 2023 (GLOBE NEWSWIRE) -- The "Video on Demand in Hospitality Global Market Report 2022: Ukraine-Russia War Impact" report has been added to ResearchAndMarkets.com's offering.
The global video on demand in hospitality market is expected to grow from $19.74 billion in 2021 to $24.39 billion in 2022 at a compound annual growth rate (CAGR) of 23.5%. The video on demand in hospitality market is expected to grow to $54.61 billion in 2026 at a CAGR of 22.3%.
North America was the largest region in the video on demand in hospitality market in 2021. The regions covered in the video on demand in hospitality market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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.
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.
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 June 2019, GuestTek Interactive Entertainment Ltd., a Canada-based company that operates in broadband technology and interactive hospitality solutions, launched GuestFlix, a cloud-based video-on-demand platform. The unique features of the new development are that there is no upfront capital expenditure and the possibility of revenue generation from VOD. Because of the secure cloud-based platform, there is no need for an on-premise VOD server, set-top boxes, or licensing fees.
The countries covered in the video on demand in hospitality market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2022 - 2026 |
| Estimated Market Value (USD) in 2022 | $24.39 billion |
| Forecasted Market Value (USD) by 2026 | $54.61 billion |
| Compound Annual Growth Rate | 22.3% |
| Regions Covered | Global |
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 12+ geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Assessment of Russia - War Impact on agriculture, energy and mineral commodities supply and their direct and indirect impact on the market analyzed in the report.
- Impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
Scope
Markets Covered:
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
Key Topics Covered:
1. Executive Summary
2. Video on Demand in Hospitality Market Characteristics
3. Video on Demand in Hospitality Market Trends And Strategies
4. Video on Demand in Hospitality Market - Macro Economic Scenario
5. Video on Demand in Hospitality Market Size And Growth
6. Video on Demand in Hospitality Market Segmentation
7. Video on Demand in Hospitality Market Regional And Country Analysis
8. Asia-Pacific Video on Demand in Hospitality Market
9. China Video on Demand in Hospitality Market
10. India Video on Demand in Hospitality Market
11. Japan Video on Demand in Hospitality Market
12. Australia Video on Demand in Hospitality Market
13. Indonesia Video on Demand in Hospitality Market
14. South Korea Video on Demand in Hospitality Market
15. Western Europe Video on Demand in Hospitality Market
16. UK Video on Demand in Hospitality Market
17. Germany Video on Demand in Hospitality Market
18. France Video on Demand in Hospitality Market
19. Eastern Europe Video on Demand in Hospitality Market
20. Russia Video on Demand in Hospitality Market
21. North America Video on Demand in Hospitality Market
22. USA Video on Demand in Hospitality Market
23. South America Video on Demand in Hospitality Market
24. Brazil Video on Demand in Hospitality Market
25. Middle East Video on Demand in Hospitality Market
26. Africa Video on Demand in Hospitality Market
27. Video on Demand in Hospitality Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Video on Demand in Hospitality Market
29. Video on Demand in Hospitality Market Future Outlook and Potential Analysis
30. Appendix
Companies Mentioned
- Akamai Technologies Inc.
- Alcatel-Lucent
- Apple Inc.
- AT&T Inc.
- Avaya Holdings Corporation
- Cisco Systems Inc.
- Ericsson
- Huawei Technologies Co. Ltd.
- Netflix Inc.
- Amazon.com Inc.
- Nokia Networks
- The Walt Disney Company
- Telefonaktiebolaget LM Ericsson
- ZTE Corporation
- Google LLC.
For more information about this report visit https://www.researchandmarkets.com/r/8ay9co
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