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Video on Demand in Hospitality Global Market Report 2022: Ukraine-Russia War Impact
Major players in the video on demand in hospitality market are Akamai Technologies Inc, Alcatel-Lucent, Apple Inc, AT&T Inc, Avaya Holdings Corporation, Cisco Systems Inc, Ericsson, Huawei Technologies Co Ltd, Netflix Inc, Amazon.
New York, Jan. 04, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Video on Demand in Hospitality Global Market Report 2022: Ukraine-Russia War Impact" - https://www.reportlinker.com/p06377813/?utm_source=GNW
com Inc, Nokia Networks, The Walt Disney Company, Telefonaktiebolaget LM Ericsson, ZTE Corporation, and Google LLC.
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 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, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The video on demand in hospitality market is expected to grow to $54.61 billion in 2026 at a CAGR of 22.3%.
The video on demand market includes revenues earned by entities by transactional video-on-demand (TVoD) and subscription video-on-demand (SVoD) that are used by viewers to request immediate access to video content on their computers or televisions and customer enhancement.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Video on demand in hospitality refers to a technology that allows guests to choose and watch video content on their TVs or computers and make videoconferencing.TV typically uses broadcast technology, whereas video on demand uses unicast transmission.
A variety of video programming is available on video on demand, including sports, entertainment, instructional, and feature films.
North America was the largest region in the video on demand in hospitality market in 2021. The regions covered in the video on demand in hospitality market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The main solution of video on demand in the hospitality market are pay TV, internet protocol television, and over the top.Pay TV refers to television broadcasts sent in encrypted form, making them unreadable to everyone but those with paid descrambling equipment.
The different services include training, support, and professional services that are delivered through several models such as laptops and desktops, smart phones and tablets, and smart TVs. The various end users include hotels, cruise or luxury yachts, day care centers, and others.
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.
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.
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.
The video on demand in the hospitality report is one of a series of new reports that provides video on demand in the hospitality statistics, including video on demand in the hospitality industry global market size, regional shares, competitors with an video on demand in the hospitality share, detailed video on demand in the hospitality segments, market trends and opportunities, and any further data you may need to thrive in the video on demand in the hospitality industry. This video on demand in the hospitality market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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