SVOD Platform Market Size, Share, Growth, and Industry Analysis, By Type (Entertainmental Content & Commercial Content), By Application (TV, Computer, Smartphone & Tablet) and Regional Insight and Forecast to 2032

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SVOD PLATFORM MARKET REPORT OVERVIEW

The global SVOD Platform Market size was valued at roughly USD 0.07 billion in 2023 and is expected to reach USD 0.12 billion by 2032, CAGR of 6.70% during the forecast period.

The market for SVOD (Subscription Video on Demand) platforms has developed intensively and offers users access to an enormous number of TV shows and movies through paid subscriptions. These allow consumers to play movies, TV shows, and other exclusive contents on multiple screens, including TVs, computers, smart phones, and tablets. SVODs are such platforms as Netflix, Amazon Prime, and Disney+ through which customers can access their required content easily, conveniently, and flexibly. It grows further since the stock market is experiencing clients migrating from conventional cable services to streaming.

COVID-19 IMPACT

"Market Growth during Pandemic due to the pandemic's impact on streaming demand"

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The COVID-19 pandemic played a key role in driving growth of the SVOD platform market as quarantine measures and social distancing increased the time people spent at home. Due to the shutdown of theaters and other cultural events, the consumers sought the new content online, and thus the subscriptions to the streaming services saw a hike, as did the viewership. This period also witnessed an increase in the amount of content that the platforms created to cover the increasing demand to fuel the market. In this regard, the pandemic played a critical role in cementing the trend towards streamers as the main source of entertainment.

LATEST TRENDS

"Ad-supported SVOD subscriptions and local content trends boost market growth"

A recent trend observed in the SVOD platform market growth is the appearance of SVOD platforms offering ad-supported subscriptions to the content that allow users to watch content at a lower price while providing the platform with additional income from the ads. This trend aims at satisfying the demanding target audience that prefers affordable services and is between the free and paid service options. Secondly, local content is becoming more popular to accommodate various audiences throughout the world, as well as an AI-driven recommendation system that is being actively developed. For instance, the ad-supported model is on the rise due to this reason since it blends affordability and access so well to reach out to as many subscribers as possible.

SVOD PLATFORM MARKET SEGMENTATION

By Type

Based on type the global market can be categorized into Entertainmental Content & Commercial Content

• Entertainment Content: This segment of the SVOD platform market is aimed at offering a diverse content of movies, TV programs, and series that are intended to be viewed for recreation purposes only. It’s because these platforms must provide the audience with all known genres, ranging from drama, comedy, and action to documentaries. These have been well occupied by services such as Netflix and Amazon Prime, which are always updating their collections with exclusive and original content.

• Commercial Content: The SVOD platform commercial content segment aims at businesses and professional organizations by providing channel catalogs, educational videos, training, and other related content. Such content is most often used for training, advertisement, or when disseminating information within and about a company. To that market, LinkedIn Learning and Coursera offer access to educational and business-oriented videos in exchange for a subscription.

By Application

Based on application the global market can be categorized into TV, Computer, Smartphone & Tablet.

• TV: The TV segment in the context of the market of SVOD platforms corresponds to the user preferences who are watching the content on the big screens using smart TVs or additional gadgets such as Roku, Apple TV, or Amazon Fire Stick. It improves the viewing experience, especially when being used on high-definition images, and is thus suitable for shared usage, such as by the family. A significant number of the platforms can also be optimized for the TV, which means that apps comprehend the controls well and streaming is always a pleasure.

• Computer: The computer segment targets the consumers who watch SVOD via desktop or laptop, as apart from the content, it provides the user convenience while performing other activities. This platform is usually utilized as a space that is used for both work and leisure, and the user is entertained while performing other actions online. Almost all services provide web-based streaming and native applications for seamless use of a computer.

• Smartphone: Smartphones are also essential in the SVOD industry due to the capacity to stream videos and shows at the user’s convenience, and it is one of the most used gadgets globally. Since the apps are mobile friendly, users can download content to have copies for local streaming depending on the show or movie they wish to watch. Due to its appeal to the audience, this segment is well embraced by the youth and commuters.

• Tablet: Tablets are the perfect in-between of smartphones and computers; they’re portable yet give the user a larger screen to view things on. Tablet segment is suitable for those who want to have an opportunity to be online constantly but do not need a large screen, necessary for watching some materials during the trips or during the time of the rest. SVOD platforms optimize their applications to be viewed on tablets, as the use of these devices supports split-screen and high-definition streaming.

DRIVING FACTORS

"Shift to on-demand content and improved streaming technology drive market growth"

One of the main factors that are influencing the SVOD platform market is the shift in consumer behavior from scheduled programming to flexible, on-demand content. Special privileges such as anytime, anywhere have become popular among the consumer, hence the subscription. It is driven by increased popularity and economic growth of people’s active lives and improved technologies in streaming.

"Exclusive original content production drives market growth"

Success of the SVOD platforms is made by the fact that most of them are now trying to produce their own and exclusive content. Web exclusives, also referred to as original content, are a mechanism that assists in keeping the current users engaged and acquiring new customers. This content strategy has turned out to be very important for market development, especially since the competition starts to rise.

RESTRAINING FACTORS

"Increased competition and content fragmentation hinder market growth"

The threat that has been identified in the context of the SVOD platform market share is the increased levels of competition and market saturation that entail fragmentation of content across multiple platforms. Undoubtedly, it will complicate it for the consumers; in the process, many potential subscribers may struggle to subscribe to two or more services, hence increasing subscription fatigue. This can lead to service cancellations or the inability to take up new services, thus limiting the overall market advancement.

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SVOD PLATFORM MARKET REGIONAL INSIGHTS

"North America's strong media industry drives market growth"

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

North America is the largest region that has adopted the SVOD platforms owing to being the first to adapt to streaming services, in addition to key players being stationed in the region such as Netflix, the Sundance video streaming platform, Amazon Prime, and Disney Plus. Low diffusion of the Internet, high demand for digital content, and strong investment in the production of new TV series reflect the region’s leadership. Moreover, North America is home to a well-developed media and entertainment industry that keeps evolving and expanding the SVOD market.

KEY INDUSTRY PLAYERS

"Big stakeholders drive market growth through innovation and expansion"

Big stakeholders, including Netflix, Amazon Prime, and Disney Plus, have been instrumental in the growth of the SVOD platform market through adding new content, producing more originals, and the adoption of advanced technologies such as artificial intelligence for SOPs. They have expanded their market on an international level, have found different strategic partners, and introduced new business models like ad-supported tiers. They are changing the present dimensions of the market and, interestingly, gaining more and more diverse new subscribers.

List of Top SVOD Platform Companies

• Netflix (U.S)
• Amazon Prime Video (U.S)
• Globo Play (Brazil)
• Claro Video (U.S)
• Crackle (U.S)

INDUSTRIAL DEVELOPMENT

August 15, 2024: Netflix launched their new Netflix Originals+ service. This new platform offers an expanded library of exclusive original content, including new series, films, and documentaries, along with enhanced features such as interactive storytelling and personalized content recommendations. Netflix Originals+ aims to strengthen its position in the competitive SVOD market by providing subscribers with more diverse and engaging viewing options.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.