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IMARC Group’s report titled “Transactional Video on Demand Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on the global transactional video on demand market growth. The global market size reached US$ 7.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 21.7 Billion by 2032, exhibiting a growth rate (CAGR) of 13.14% during 2024-2032.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/transactional-video-on-demand-market/requestsample
Factors Affecting the Growth of the Transactional Video on Demand Industry:
The growing adoption of transactional video on demand (TVOD) due to the rising demand for enhanced convenience is offering a positive market outlook. In line with this, people are increasingly preferring on-demand access to content, which is bolstering the market growth. Moreover, individuals are seeking flexibility in their entertainment sources. Furthermore, TVOD platforms allow users to rent or purchase content, enabling viewers to watch their favorite movies or TV shows at their convenience. Besides this, increasing preferences for enhanced flexibility in entertainment among people with busy lifestyles is propelling the market growth.
The wide availability of high-speed internet connectivity is contributing to the growth of the market. Apart from this, the rising adoption of smartphones among the masses across the globe is strengthening the market growth. Additionally, people have access to reliable and fast internet connections that allow users to watch movies and shows anywhere and at any time. Furthermore, high-speed connectivity enables TVOD platforms to deliver high-quality streaming content without interruptions or buffering issues, enhancing the user experience. In addition, the introduction of fifth-generation (5G) technology provides seamless streaming on a variety of devices, which is impelling the market growth.
The escalating demand for TVOD on account of the increasing number of digital streaming platforms around the world is supporting the growth of the market. In line with this, major streaming giants are diversifying their content libraries by including both subscription-based streaming (SVOD) and TVOD options. This strategic move allows them to cater to a wider range of individuals, including viewers who prefer one-time rentals or purchases. Additionally, these platforms leverage their vast user bases to promote TVOD offerings, effectively cross-promoting content.
Leading Companies Operating in the Global Transactional Video on Demand Industry:
Transactional Video on Demand Market Report Segmentation:
By Access Type:
Smartphones and tablets represented the largest segment due to their enhanced convenience and portability.
By Content Type:
Entertainment accounted for the largest market share on account of the rising demand for immediate access to a wide range of content.
By Availability Type:
Electronic cell through exhibit a clear dominance in the market as they allow users to purchase and download movies and TV shows.
Regional Insights:
North America enjoys the leading position in the transactional video on demand market, which can be attributed to the presence of a well-established entertainment industry.
Global Transactional Video on Demand Market Trends:
TVOD services employ advanced recommendation algorithms that analyze user behavior and preferences. These platforms enhance the user experience and encourage viewers to explore additional content by offering personalized content recommendations. This personalization not only enhances satisfaction among individuals but also drives engagement and revenue through additional rentals or purchases.
Collaborations between TVOD platforms and content creators, studios, or distributors are propelling the growth of the market. Furthermore, these partnerships are leading to exclusive deals and co-promotions, which is impelling the market growth.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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