VOD in hospitality market worth over $19b by 2021

Staff writer
12 Jun 2016
00:00
News
Daily News

According to a new research report published by MarketsandMarkets, the VOD market in the hospitality sector is expected to reach $19.11 billion by 2021 – a CAGR of 22.6% during the forecast period.

VOD in hospitality is growing and been adopted by users for watching on-demand videos, events, and advertisements. The continuous developments in this technology and its solutions have encouraged hospitality segments to adopt VOD solutions and services.

There has been a rise in the adoption of VOD solutions such as pay TV, IPTV, and OTT among hospitality businesses. Hotels and other luxury resorts are adopting IPTV VOD solutions to provide in-room viewing experience – which allows guest to record, rewind, forward, or pause video content. IPTV also helps them to set wake-up calls, request room service, view their bills, and check out.

Nowadays, individuals prefer using their smart phones and tablets to browse the internet while staying at hotels or sitting at restaurants. Many hotels provide devices to guests, but fear of data security is a concern. Most hospitality segments provide Wi-Fi networking connections so that guests have a choice of device-preference.

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