
According to the latest market report published by Future Market Insights, titled 'Video on Demand (VoD) Service Market - Global Industry Analysis and Opportunity Assessment, 2016 - 2026', the global Video on Demand service market was valued at US$ 45,034.3 Mn in 2014 and is expected to expand at a CAGR of 8.3% over the forecast period (2016-2026). Surge in market growth of VoD service is primarily driven by changing preferences of viewers towards watching content as per their convenience. Additionally, vertical integration by social media platforms to offer their own VoD services, and rise & success of content-on-demand services are further contributing towards the market growth globally.