Over-the-top (OTT) devices and services find applications in broadcasting of text, images, audio, and video over the internet. These devices are also used in broadcasting, entertainment, education, and other businesses.
OTT Services Explained
Over the top devices generally include mobile devices such as smartphones and tablets, computers, set top boxes, gaming consoles, and smart TVs. Services may include different types of applications that are run through the devices. For example, internet TV or instant messaging services are being offered by WhatsApp, a third party instant messaging and video calling mobile applications owned by Facebook. OTT service providers worldwide are offering several free as well as paid services. They are generating revenue with the help of paid advertising model.
Exploring AVOD
Video On Demand (VOD) offers users the facility to select and watch or listen to audio and video content of their choice. Consumer can opt for TV shows or movies instead of watching live broadcasting. Advertising Video On Demand (AVOD) is an emerging business model, especially when consumers are looking for premium content. In this model, consumers are free to watch videos, so ads will be appear while watching a particular video. AVOD has adopted an automated real-time advertising model to serve the most suitable ads for the targeted consumers.
According to Grand View Research, Inc.; the global Over-the-top (OTT) devices and services market is projected to attain steady growth over the forecast period (2014 to 2025). Rising adoption of mobile devices like smartphones and tablets and technologically advanced devices like smart TVs and set top boxes are anticipated to propel the growth.
Additionally, high demand for VOD, AVOD, Subscription VOD (SVOD), and Transactional VOD (TVOD) may generate high revenue in the near future. AVOD is estimated to gain high revenue share during the forecast period. This growth is associated with increasing adoption of high speed internet services like 4G and fiber broadband.
However, different government policies across the world as well as unstructured revenue models of OTT devices and services providers can hamper the market growth.
Some of the leading companies working in the market include Apple Inc; Google Inc; Hulu; Roku, Inc; and Netflix.
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