Transactional Video on Demand Market

Market Overview:

The global transactional video on demand 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. The rising demand for flexibility and personalized content consumption, the availability of a wide range of content, the increasing prevalence of digital platforms and devices, and changing consumer preferences are some of the major factors propelling the market.

Transactional video on demand (TVOD) refers to a digital content distribution model where users can access specific video content by making individual payments for each piece of content they wish to watch. This method enables viewers to rent or purchase movies, TV shows, or other media on a pay-per-view basis. Unlike subscription-based models, TVOD does not require a recurring fee; instead, users pay for the content they desire to consume. This approach provides flexibility and immediate access to desired content, thus making it suitable for one-time or occasional viewers who prefer on-demand entertainment without a long-term commitment.

The increasing demand for personalized and flexible content consumption experiences represents one of the key factors driving the growth of the market across the globe. TVOD empowers viewers by allowing them to select and pay solely for the content they desire, which provides an elevated sense of choice and control, thus driving the market growth. The market benefits from an expansive content library, encompassing new movie releases and exclusive shows. This array of premium content offerings incentivizes users to opt for TVOD services, as it ensures immediate access to sought-after entertainment which is further contributing to the market growth. The widespread adoption of digital devices like smartphones, tablets, and smart TVs greatly facilitates the accessibility of TVOD content, which enhances convenience and market penetration. Furthermore, the appeal of TVOD is facilitated by its no-commitment approach and absence of recurring subscription fees, aligning with evolving consumer preferences for more cost-efficient and adaptable entertainment solutions. Moreover, strategic collaborations between content creators, production studios, and TVOD platforms enrich the available content repertoire, captivating diverse audiences and creating a positive outlook for the market across the globe.

Transactional Video on Demand Market Trends/Drivers:

Rising demand for consumer flexibility and personalization

Consumer flexibility and personalization are pivotal drivers behind the growth of the transactional video on demand (TVOD) industry. In an era where consumers increasingly seek tailored experiences, TVOD offers a solution that aligns perfectly with this demand. The ability to select and pay only for desired content grants viewers unparalleled freedom and control over their entertainment choices. This personalized approach resonates with modern audiences who value convenience and individuality. TVOD caters to diverse preferences by allowing viewers to curate their own content libraries, choosing from a vast selection of movies, TV shows, and special events.

Increasing availability of premium content

Premium content availability is a driving force propelling the transactional video on demand (TVOD) market growth. The allure of exclusive and sought-after content plays a pivotal role in attracting audiences seeking immediate access to the latest movies, shows, and live events. TVOD platforms capitalize on this demand by curating a diverse range of high-quality offerings, including newly released blockbusters and original content. This strategy not only engages viewers but also positions TVOD as a premier destination for timely and top-tier entertainment. The availability of premium content bolsters the appeal of TVOD as a valuable alternative to traditional viewing methods, empowering users with the convenience of enjoying elite entertainment at their own pace and on their own terms.

Widespread digital device adoption

The widespread adoption of digital devices stands as a significant driving factor behind the growth of the TVOD market. The rising integration of smartphones, tablets, smart TVs, and laptops into daily life is transforming the way consumers engage with content. These devices offer seamless and convenient access to TVOD platforms, allowing users to enjoy their chosen content anywhere, anytime. This accessibility caters to the modern lifestyle, aligning with the preferences of on-the-go viewers who demand flexibility and instant gratification. The convergence of digital technologies and pervasive device usage amplifies the reach and appeal of TVOD services, thus making them an integral part of the digital entertainment landscape and reshaping how audiences consume premium content.

Transactional Video on Demand Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global transactional video on demand market report, along with forecasts at the global, regional and country levels for 2024-2032. Our report has categorized the market based on access type, content type, and availability type.

Breakup by Access Type:

• OTT Streaming Devices
• Desktops and Laptops
• Smartphones and Tablets
• Smart TVs
• Others
   

Smartphone and tablets dominate the market

The report has provided a detailed breakup and analysis of the market based on the access type. This includes OTT streaming devices, desktops and laptops, smartphones and tablets, smart TVs, and others. According to the report, smartphones and tablets accounted for the largest market share.

The adoption of smartphones and tablets in the transactional video on demand (TVOD) market is fueled by several compelling factors. Primarily, the convenience of on-the-go access allows users to enjoy TVOD content whenever and wherever they choose. The portability and mobility of these devices resonate with modern lifestyles, accommodating busy schedules and travel. Intuitive mobile apps provide a user-friendly experience, enabling easy navigation through content libraries, quick searches, and secure payment options. This enhances the overall user experience and encourages engagement. Additionally, the personalization capabilities of smartphones and tablets enable tailored content recommendations based on user preferences and viewing history, enhancing content discovery. Moreover, the proliferation of high-speed internet connectivity empowers seamless streaming of TVOD content on these devices, ensuring a smooth and uninterrupted viewing experience. Moreover, the widespread ownership of smartphones and tablets, coupled with their integration into daily routines, ensures that users are readily available tools for accessing TVOD services, thereby making them key drivers in the market's growth.

Breakup by Content Type:

• Entertainment
• Food
• Travel and Fashion
• Gaming and Sports
• Others
   

Entertainment represents the largest market segment

A detailed breakup and analysis of the market based on the content type has also been provided in the report. This includes entertainment, food, travel and fashion, gaming and sports, and others. According to the report, entertainment accounted for the largest market share.

The demand for entertainment in the transactional video on demand (TVOD) market is driven by several compelling factors. Primarily, the demand for immediate access to a wide range of content, including new movie releases, exclusive shows, and special events, resonates strongly with viewers. TVOD platforms offer the flexibility to choose and consume such content on-demand, aligning with modern lifestyles and preferences. The rising need for personalized experiences is met by TVOD's individualized content selection and payment model. This empowers users to curate their own entertainment choices, enhancing engagement and satisfaction. Furthermore, the absence of long-term commitments and subscription fees provides cost-effective options for occasional viewers, attracting those who seek entertainment without ongoing financial obligations. Moreover, partnerships between content creators, studios, and TVOD platforms enrich the available content library, ensuring a diverse and appealing selection for a wide audience.

Breakup by Availability Type:

• Electronic Sell Through
• Download to Rent
   

Electronic sell through dominates the market

A detailed breakup and analysis of the market based on the availability type has also been provided in the report. This includes electronic sell through and download to rent. According to the report, electronic sell through accounted for the largest market share.

The demand for electronic sell through (EST) in the transactional video on demand (TVOD) market is influenced by several compelling factors. Primarily, the convenience of owning and accessing digital content permanently attracts viewers who prefer to build their digital libraries. EST allows users to purchase and download movies, TV shows, and other media, providing long-term access without the constraints of streaming availability. The demand for offline viewing drives the demand for EST. Users download their purchased content and enjoy it without requiring a continuous internet connection, accommodating travel or areas with limited connectivity. Furthermore, the appeal of bonus features, special editions, and exclusive content associated with EST releases encourages collectors and enthusiasts to opt for this model. Moreover, the flexibility of device compatibility and cross-platform access enhances the popularity of EST, catering to a variety of viewing preferences and devices.

Breakup by Region:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

North America represents the largest region

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America accounted for the largest market share.

In North America, the transactional video on demand (LIBS) market is driven by the increasing awareness of cleanliness and hygiene in commercial and industrial settings which influences the demand for professional cleaning services. The rise of corporate culture necessitates well-maintained workspaces is boosting market prospects. Technological advancements, such as the integration of smart devices for more efficient cleaning, also contribute to market expansion. Government regulations emphasizing cleanliness in public facilities have increased contractual opportunities. Moreover, the trend toward outsourcing non-core operations allows organizations to focus on primary business activities, indirectly fueling the transactional video on demand industry.

Competitive Landscape:

Key players in the transactional video on demand market are implementing strategies to differentiate themselves and meet evolving customer demands. These players are focusing on innovation by adopting advanced cleaning technologies and equipment to enhance efficiency and effectiveness. They are also prioritizing sustainability by offering eco-friendly cleaning solutions and practices to appeal to environmentally conscious clients. Moreover, many key players are emphasizing workforce training and development to ensure that their cleaning staff are skilled, knowledgeable, and capable of providing high-quality services. Additionally, customization is a key trend, where providers tailor their services to meet the specific needs of different industries and spaces. By offering flexible service packages and addressing unique cleaning challenges, they aim to stand out and establish long-term relationships with clients. Furthermore, technological integration is on the rise, with digital scheduling platforms, real-time communication, and data analytics improving service transparency and customer satisfaction.

The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• Amazon.com, Inc.
• Apple Inc.
• Brightcove Inc.
• Comcast
• Google LLC (Alphabet Inc.)
• Rakuten Group, Inc.
• VIXY BV

Transactional Video on Demand Market Report Scope:

Key Questions Answered in This Report:

• How has the global transactional video on demand market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global transactional video on demand market?
• What is the impact of each driver, restraint, and opportunity on the global transactional video on demand market?
• What are the key regional markets?
• Which countries represent the most attractive transactional video on demand market?
• What is the breakup of the market based on the access type?
• Which is the most attractive access type in the transactional video on demand market?
• What is the breakup of the market based on the content type?
• Which is the most attractive content type in the transactional video on demand market?
• What is the breakup of the market based on the availability type?
• Which is the most attractive availability type in the transactional video on demand market?
• What is the competitive structure of the global transactional video on demand market?
• Who are the key players/companies in the global transactional video on demand market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the transactional video on demand market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global transactional video on demand market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the transactional video on demand industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.