AVOD Services Market Is Estimated To Witness High Growth Owing To Growing Digital Advertising Budgets And Increasing User Base

AVOD Services Market
AVOD Services Market


The 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% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.


Market Overview:


AVOD services refer to advertising-supported video on demand services that provide users with free access to a wide range of content, including movies, TV shows, and original programming. These services generate revenue through advertising and provide a cost-effective alternative to subscription-based video streaming platforms. The popularity of AVOD services has been fueled by the growing digital advertising budgets of businesses and the increasing number of users seeking free access to video content. Major players in the market include YouTube (Google), Hulu (Disney), Peacock (NBCUniversal), and Tubi (Fox Corporation).

Market Dynamics:

The AVOD services market is driven by two main factors. Firstly, the growing digital advertising budgets of businesses have led to increased investments in AVOD platforms as a means to reach a wider audience. Advertisers are leveraging the popularity of AVOD services to target specific demographics and drive brand awareness. Secondly, the increasing user base of AVOD services is attracting advertisers who are keen to reach a large and diverse audience. The convenience and accessibility of AVOD services have made them increasingly popular among consumers, contributing to the growth of the market. Furthermore, advancements in technology, such as improved data analytics and targeting capabilities, are enhancing the effectiveness of advertising campaigns on AVOD platforms. Overall, the AVOD services market is expected to witness high growth in the coming years.

Segment Analysis:

The AVOD services market can be segmented based on content type, platform, and region. In terms of content type, the market can be divided into movies, TV shows, sports, news, and others. Among these, the dominating sub-segment is movies, as they are the most-watched and popular content among consumers. With the availability of a wide range of movie genres and options, customers are inclined to spend more time watching movies on AVOD platforms.

PEST Analysis:

Political: The political factors influencing the AVOD services market include regulations and censorship policies imposed by governments. Restrictions on certain types of content or foreign content can impact the availability and attractiveness of AVOD platforms in a particular region.

Economic: The economic factors affecting the market include disposable income, advertising expenditure, and the overall economic stability of a country. Increasing disposable income and a growing trend of digital advertising are expected to positively impact the growth of the AVOD services market.

Social: Social factors such as changing consumer preferences, increasing digitalization, and a shift towards online streaming are driving the growth of the AVOD services market. The convenience and flexibility offered by AVOD platforms, along with the availability of diverse content options, are influencing consumer behavior.

Technological: Technological advancements in streaming platforms, internet connectivity, and smart devices are key drivers for the AVOD services market. Improvements in video quality, personalized recommendations, and user-friendly interfaces are enhancing the user experience and attracting more consumers towards AVOD services.


Key Takeaways:

The global AVOD Services Market is expected to witness high growth, exhibiting a CAGR of 14.2% over the forecast period of 2023-2030. This growth is primarily driven by the increasing popularity of online streaming, rising disposable income, and advancements in technology.

In terms of regional analysis, North America is the fastest-growing and dominating region in the AVOD services market. The region has a well-established infrastructure for digital advertising, high internet penetration, and a large consumer base. Moreover, major key players like YouTube (Google), Hulu (Disney), and Peacock (NBCUniversal) are based in North America, contributing to the market's growth in the region.

Key players operating in the AVOD services market include YouTube (Google), Hulu (Disney), Peacock (NBCUniversal), Tubi (Fox Corporation), Pluto TV (ViacomCBS), IMDb TV (Amazon), Roku Channel (Roku), Crackle (Chicken Soup for the Soul Entertainment), Xumo (Comcast), Vudu (Walmart), The Roku Channel (Roku), Popcornflix (Screen Media Ventures), MX Player (Times Internet), Voot (ViacomCBS), and Tubi TV (Fox Corporation). These players have a strong presence in the market and offer a wide range of content options to attract and retain consumers.

Read More  : https://www.newswirestats.com/global-avod-services-market-is-estimated-to-witness-high-growth-owing-to-rising-demand-for-online-streaming-services-and-increasing-penetration-of-smart-devices/

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