This global market research report presents a detailed analysis of the upcoming trends, drivers, and challenges that influence market growth. It also segments the global online movies market by geography and includes regions like the Americas, EMEA, and APAC. The key vendors analyzed in this market research are Apple, Amazon, Dish Network, Hulu, and Netflix.
Technavio’s market research analysts estimate the global online movies market, to grow at a CAGR of 21% between 2016 and 2020. Recent advances and innovations in technology that have enabled users to stream a wide array of free movies online or in paid form will result in the strong of this market during the predicted period. The Americas is the largest market for online movies due to the rising box office success in the US, and the growing popularity of Hollywood movies, owing to its advanced graphics, theme, and concepts.
The new market research report from Technavio provides a breakdown and analysis of the online movies segments by technology.
“The online screening of movies has gained popularity and adoption among the populace in a brief span of time. Factors like ease of access, streaming, download, and convenience of watching free movies online will augment the popularity of online movies during the forecast period. Moreover, the increase use of smart devices like smartphones and tablets have shifted the focus towards digital distribution, which is benefitting the sales of online movies,” says Soumya Mutsuddi, Lead Analyst, Media & Entertainment, Technavio Research.
The growth of online movies market is primarily attributed to the preference for video on demand (VoD) services, increased adoption of smartphones, hectic lifestyles, increased broadband infrastructure, and growing penetration of the Internet. VoD allows users to select and watch video content of their choice. Several Internet protocol TV (IPTV) and direct to home (DTH) service providers enable an individual to choose their service depending on usage and requirement.
The major players in the global online movies market include Apple, Amazon, Dish Network, Hulu, and Netflix. This market is highly competitive and is characterized by the presence of prominent vendors like Netflix and Amazon. Factors like intense competition, changing consumers’ spending pattern, demographic trends, and frequent changes in consumers’ preferences will hamper the prospects for growth in this market during the estimated period. In this market, the vendors compete on the basis of movie library content, app availability, user-friendly interface, and pricing to gain maximum market traction.
A more detailed analysis is available in the Technavio report, Global Online Movies Market 2016-2020.
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