Burlingame, Sept. 20, 2023 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, global AVOD services market is estimated to be valued at US$ 28.09 billion in 2023 and is expected to exhibit a CAGR of 14.2% during the forecast period (2023-2030). Advertising-based Video On Demand or AVOD services provide free content to viewers, which is supported by advertisements. It allows users to access different movies, videos, and TV shows without a subscription fee. However, they have to watch ads during playback. AVOD platforms help generate revenue from advertisers, which allows them to offer content for free to their audience. YouTube is a popular example of AVOD services.
Key Trends and Analysis of the Global AVOD Services Market:
Integration of AVOD services with smart TVs and connected devices is a major trend in the global AVOD services market. Integrating AVOD services with different smart TVs and connected devices will continue to grow in the coming years. With this expansion, viewers can access content without any issues on multiple screens. This caters to their preferences and conveniences. Thus, growth use of connected devices and smart TVs for AVOD services is likely to aid in growth of the market in the near future.
Market Drivers:
Rise in digital video consumption to boost market pace
Increasing digital video consumption is one of the major factors expected to accelerate growth of the global AVOD services market. With growing proliferation of tablets, smartphones, and high-speed internet access, increasing number of people are shifting to online platforms for entertainment. AVOD services offer free access to a large range of video content and a cost effective option. Thus, increasing digital video consumption is likely to drive adoption of AVOD services in the coming future.
Increasing spending on advertising to fuel market growth
There is a shift in allocation of budgets among advertisers from conventional media to digital platforms, which also includes AVOD services. These platforms provide capabilities of targeted advertising, which allows brands to reach particular audiences depending on their demographics, interest, and online behavior. Such personalized approaches toward advertising can enhance the efficiency of campaigns and can increase adoption of AVOD models.
Read full market research report, "AVOD Services Market, By Content Type, By Platform Type, By Demographics, By Genre, By Device, By Advertising Format, By Language, By Revenue Model, And By Geography, Market Size & Share Analysis - Growth Trends & Forecasts, 2023-2030", published by Coherent Market Insights.
AVOD Services Market Report Coverage
| Report Attribute | Details |
| Forecast Period: | 2023 to 2030 |
| Market Size in 2023: | US$ 28.09 Bn |
| 2030 Value Projection: | US$ 71.16 Bn |
| Growth rate | CAGR of 14.2% from 2023 to 2030 |
| Base year for estimation | 2022 |
| Historical data | 2017 - 2021 |
| Forecast period | 2023 - 2030 |
Market Restrain:
Concerns related to privacy and regulation to limit market pace
AVOD involves targeted advertising, which uses user data. Collecting user data for such type of advertising raises privacy concerns across viewers. With increasing concerns around data protection regulations and privacy concerns, AVOD platforms are required to navigate stricter compliance needs, potentially affecting the ability of effectively personalizing ads.
Market Opportunities:
Growing number of partnerships and content agreement among market players is projected to generate lucrative opportunities in the market. Collaboration with content creators, production houses, and studios allows AVOD platforms to access a large library of premium content. With strategic partnerships and securing exclusive content rights, the AVOD landscape becomes competitive. This in turn supports growth of the global market.
Market Key Developments:
In March 2023, Pluto TV completed acquisition of Xumo, another free ad-supported streaming service. With this acquisition, Pluto TV gained access to content library and user base of Xumo which will help it become the biggest AVOD service in the U.S.
In April 2023, YouTube TV announced partnership with WarnerMedia to introduced YouTube TV subscribers with HBO Max. The partnership allows YouTube TV subscribers to access the content library of HBO Max.
Key Market Takeaways:
Global AVOD services market is expected to exhibit a CAGR of 14.2% during the forecast period. The AVOD services market is growing rapidly in response to the growing competitive landscape and original content leading market players investing in production of high-quality original content.
On the basis of Content Type, TV Shows Segment is expected to dominate the market during the forecast period and this is attributed to the availability of wide range of content in TV shows.
On the basis of Platform Type, AVOD-supported social media platforms Segment is expected to dominate the market during the forecast period and this is attributed to the increasing number of social media platforms and their use.
On the basis Demographics, Age groups Segment is expected to dominate the market during the forecast period and this is attributed to the presence of wider target in age group for advertising.
On the basis Genre, Drama Segment is expected to dominate the market over the forecast period and this is attributed to the increase higher consumption drama content.
On the basis Device, Mobile devices Segment is expected to dominate the market during the forecast period and this is attributed to the increasing penetration of smartphones around the world.
On the basis of Advertising Format, Pre-roll ads Segment is expected to dominate the market during the forecast period and this is attributed to the higher adoption due to wider reach to consumers.
On the basis of Language, English Segment is expected to dominate the market during the forecast period and this is attributed to the higher number of English speaking population.
On the basis Revenue Model, Hybrid (combination of AVOD and subscription-based revenue) Segment is expected to dominate the market during the forecast period and this is attributed to the higher adoption owing to various benefits and growing number of subscribers.
On the basis User Engagement, Active users Segment is expected to dominate the market over the forecast period and this is attributed to the increase in use of various social media platforms.
On the basis Content Licensing, Licensed content from third-party providers Segment is expected to dominate the market during the forecast period and this is attributed to the higher adoption of third party and vendors for licensing.
On the basis Ad Targeting Criteria, Interest-based targeting Segment is expected to dominate the market during the forecast period and this is attributed to the increasing number of campaigns to understand interests of audience.
On the basis of Geography, North America is expected to hold a dominant position over the forecast period, due to presence of large population, higher penetration of internet, and major expenditure on advertising in the region. Moreover, increasing AVOD supported streaming services in the region are also driving growth of the global AVOD services market.
Key players operating in the global AVOD services market include Tubi TV (Fox Corporation), YouTube (Google), Voot (ViacomCBS), Hulu (Disney), MX Player (Times Internet), Peacock (NBCUniversal), Popcornflix (Screen Media Ventures), Tubi (Fox Corporation), The Roku Channel (Roku), Pluto TV (ViacomCBS), Vudu (Walmart), IMDb TV (Amazon), Xumo (Comcast), Roku Channel (Roku), and Crackle (Chicken Soup for the Soul Entertainment).
Read full market research report, "AVOD Services Market, By Content Type, By Platform Type, By Demographics, By Genre, By Device, By Advertising Format, By Language, By Revenue Model, And By Geography, Market Size & Share Analysis - Growth Trends & Forecasts, 2023-2030", published by Coherent Market Insights.
Detailed Segmentation:
- Global AVOD Services market, By Content Type:
- Electrical Safety Training and Certification
- Electrical Safety Audits and Inspections
- Electrical Safety Equipment (PPE)
- Electrical Safety Software and Monitoring Systems
- Electrical Safety Consulting and Advisory Services
- Global AVOD Services market, By Platform Type:
- Manufacturing
- Construction
- Energy and Utilities
- Healthcare
- IT and Telecommunications
- Transportation
- Oil and Gas
- Others
- Global AVOD Services market, By Demographics:
- In-House AVOD Services Teams
- Third-Party Safety Consulting Firms
- Equipment Manufacturers Offering Safety Solutions
- Technology Providers for Safety Monitoring Systems
- Government Agencies and Regulatory Bodies
- Global AVOD Services market, By Genre:
- Power Distribution and Substations
- Industrial Machinery and Equipment
- Electrical Installations in Buildings and Infrastructure
- Power Generation (Renewable and Conventional)
- Electrical Maintenance and Repairs
- Global AVOD Services market, By Device:
- Small and Medium-sized Enterprises (SMEs)
- Large Enterprises
- Global AVOD Services market, By Advertising Format:
- National Electrical Code (NEC)
- International Electrotechnical Commission (IEC) Standards
- Occupational Safety and Health Administration (OSHA) Regulations
- Other Local and International Safety Standards
- Global AVOD Services market, By AVOD Services market, By Language:
- Hardware
- Software
- Services
- Global AVOD Services market, By Revenue Model:
- Pure AVOD (100% ad-supported)
- Hybrid (combination of AVOD and subscription-based revenue)
- Freemium (basic access is free, but premium features are paid)
- Global AVOD Services market, By User Engagement:
- Active users (regularly accessing content)
- Occasional users (intermittent usage)
- Churn rate (percentage of users who stop using the service)
- Global AVOD Services market, By Content Licensing:
- Exclusive content (originals and exclusive rights)
- Non-exclusive content (shared with other platforms)
- Licensed content from third-party providers
- Global AVOD Services market, By Ad Targeting Criteria:
- Demographic targeting (age, gender, location)
- Behavioral targeting (user preferences, viewing history)
- Contextual targeting (content relevance)
- Interest-based targeting (based on user interests)
- Global AVOD Services market, By Region:
- North America
- U.S.
- Canada
- Europe
- Germany
- Italy
- U.K.
- France
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- Australia
- India
- ASEAN
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- Israel
- South Africa
- Rest of Middle East & Africa
- North America
Related Market Intelligence Reports:
Copywriting Services Market, By Type (Content writing, Email marketing, Social media copywriting, Press releases, Other), By Application (B2B, B2C, Non-profit), and By Geography, Market Size & Share Analysis - Growth Trends & Forecasts, 2023-2030
Broadband Services Market, By Broadband Connection: Fiber Optic, Wireless, Satellite, Cable, and Digital Subscriber Line (DSL) By End User: Business, Household, and Others, By Geography, Market Size & Share Analysis - Growth Trends & Forecasts, 2023-2030
Business Software and Services Market, By Software (Finance, Sales & Marketing, Human Resource, Supply Chain, and Others), By Service (Consulting, Managed Services, and Support & Maintenance), By Deployment (Cloud and On-premise), By Enterprise Size (Large Enterprises and Small & Medium Enterprises), By End-Use (Aerospace & Defense, BFSI, Government, Healthcare, IT & Telecom, Manufacturing, Retail, Transportation, and Others), By Geography, Market Size & Share Analysis - Growth Trends & Forecasts, 2023-2030
Browse through Coherent Market Insights Information and Communication Technology Research Reports.
About Us:
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
