Online Video Platform Market
Online Video Platform Market
Online Video Platform Market to Reach US$ 38.6 Bn by 2032, driven by the rising popularity of online videos, with viewership steadily surpassing traditional video content platforms such as cable and satellite television: Global Insight Services
New York, August 2023: According to a new research study by Global Insight Services (GIS), the global Online Video Platform market is expected to grow rapidly over the next 10 years to reach a value of more than the US $ 38.6 Billion by 2032.
Online video platform” (OVP) refers to a software as a service (SaaS) model for licensing online video content that enables video producers to input, convert, manage, publish, analyze, store, and monetize online video. To process and deliver online video material to the target audience, an OVP is utilized. Some services allow users to stream live videos in addition to providing recorded, on demand video. Media and entertainment organizations are focusing more on OVPs to efficiently manage, publish, and monetize video content.
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Online Video Platform Market: Key Trends and Drivers
A significant driver propelling the growth of the Online Video Platform (OVP) market is the escalating global demand for digital content consumption across various industries and sectors. As internet penetration continues to expand and bandwidth capabilities improve, consumers’ preferences have shifted towards video-based content for entertainment, education, communication, and business purposes. This surge in demand has prompted businesses, educational institutions, media companies, and individuals to seek comprehensive and user-friendly OVP solutions that facilitate the creation, management, distribution, and monetization of videos. The OVP market’s growth is further fueled by the increasing popularity of live streaming, on-demand video services, and the integration of videos into social media platforms, driving the need for sophisticated OVPs that offer seamless playback, adaptive streaming, analytics, security features, and cross-device compatibility. As the digital landscape continues to evolve, the Online Video Platform market is positioned to flourish, catering to the burgeoning appetite for high-quality video content and transforming the way information is consumed and shared.
Online Video Platform Market: Restraints & Challenges
Increasing saturation and competition within the industry. As the demand for digital content and video streaming services continues to surge, numerous players, ranging from established giants to emerging startups, are vying for a share of the market. This intense competition exerts pressure on pricing strategies, innovation, and content quality, leading to potential challenges for smaller OVPs to differentiate themselves and maintain profitability. Additionally, the rapidly evolving technological landscape necessitates continuous investments in infrastructure, security measures, and scalability, imposing financial constraints on OVPs striving to keep up with ever-growing user expectations. This restraint underscores the need for strategic differentiation, sustainable business models, and efficient resource allocation within the Online Video Platform market.
Online Video Platform Market Report Findings
The Video Processing segment is likely to hold a dominant Online Video Platform market share and grow at a substantial CAGR during the forecast period.
On the basis of type, it is segmented into Video Processing, Video Analytics, Video Hosting, Video Content Management, Mobile Video, Live Steaming, and Others. The Video Processing segment is expected to grow at the significant CAGR during the forecast period. These platforms offer a range of functionalities, including streamlined IP conversion, efficient transcoding with high density, adaptive bitrate packaging, encryption, and modular visual solutions. Such comprehensive offerings enable broadcasters to cost-effectively provide online video solutions for both live streaming and video-on-demand services. Many platforms also offer personalized video experiences based on factors like user behavior, location, demographics, and even hyper-personalized content involving preference settings and multi-language support.
Whereas, the video management segment accounted for xx% revenue share in the online video platform market in 2022. The rise of video management platforms can be attributed to their features such as optimized search capabilities, which facilitate efficient video indexing, particularly when dealing with large video files. However, it’s the video analytics segment that is anticipated to exhibit the highest Compound Annual Growth Rate (CAGR) during the forecast period. This growth is primarily driven by the continual advancements in video reporting structures, encompassing insights into video consumption patterns, geographical reach, campaign engagement, and providing a comprehensive view of Return on Investment (ROI).
The Video Sharing segment is anticipated to hold a majority of the Online Video Platform market size throughout the study period.
By application, the industry is classified into Video Sharing, and Commercial Video platforms. Among these video sharing segment accounted for significant market share in 2022. As users across the globe increasingly turned to digital platforms for content consumption and interaction, the demand for seamless and user-friendly video sharing experiences surged. This trend translated into substantial revenue growth for online video platforms that facilitated the creation, uploading, and sharing of videos, spanning a diverse range of genres and interests. With its expansive reach and pervasive influence, the video sharing segment underscored its pivotal role in shaping the contemporary digital entertainment and communication landscape, solidifying its position as the primary driver of revenue within the Online Video Platform market.
The Media & Entertainment segment is anticipated to hold a majority of the Online Video Platform market size throughout the study period.
By End-User, Online Video Platform Market has been segmented into E-learning, Media and Entertainment, BFSI, Retail, IT and Communications, and Other End Users. During the year 2022, the media and entertainment sector accounted for the significant market share. This dominance is projected to endure throughout the foreseeable future. The sector experienced notable expansion attributable to the rapid proliferation of mobile internet connectivity and substantial global investments directed towards enhancing the infrastructure for Over-The-Top (OTT) services. Moreover, the escalating investment influx into live streaming of sporting events is anticipated to have a pivotal role in fostering the growth of the media and entertainment industry. Additionally, factors such as the increasing demand for original content, the advent of advanced streaming platforms, and the integration of augmented reality (AR) and virtual reality (VR) experiences into entertainment are also poised to contribute to the sector’s continuous evolution. Furthermore, the emergence of interactive and personalized content delivery models, coupled with the expansion of digital advertising strategies, is expected to fuel the momentum of this industry segment.
The North America region is estimated to exhibit the highest growth rate during the Online Video Platform market forecast period.
Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America dominated the revenue share in 2022. This is due to the integration of advanced 5G network technology, enhancing the speed and agility of online video platforms. Notably, a growing multitude of U.S. businesses are leveraging these platforms to enhance brand identity by showcasing their products and services. Concurrently, Europe, which held the second-largest market share in 2019, is anticipated to experience steady growth, driven by the widespread availability of high-speed internet.
Conversely, the Asia Pacific region is forecasted to exhibit the most robust Compound Annual Growth Rate (CAGR) over the projected period. This projection is underpinned by the burgeoning demand for video-on-demand and live streaming content across online video platforms within the media and entertainment sector. The surge in internet accessibility across the region further contributes to this expansion. The surge in popularity of user-generated video content on free video hosting platforms, notably YouTube, is a notable trend. The Asia Pacific region stands to gain the most from this phenomenon due to its immense global population and the escalating penetration of internet services. Additionally, the inclusion of live video streaming features on social media platforms such as Facebook and LinkedIn is amplifying the overall user count on online video platforms.
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The key players in the Online Video Platform Market are Ooyala Inc., MediaMelon Inc., Akamai technologies, Kaltura Inc., Panopto, Brightcove Inc., Frame.io, Inc., Limelight Networks Inc., YouTube, and Comcast Technology Solutions, among others.
Recent Developments in the Online Video Platform Market:
- In August 2020, Vidyard announced the availability of its video collaboration and communication tools for android and made it available for 1.6 billion users across the world, along with a free extension for Microsoft Edge users. This allows various business professionals to record and send meeting recaps, team updates, video introductions, among other functionalities from their device.
- In April 2020, Akamai, a U.S.-based content delivery network company, announced a partnership with Verimatrix, a cyber-security company based in the U.S. The partnership is aimed to provide secure watermarking capabilities. Watermarking provides a session-based, user-specific tracking and source identification, which allows broadcasters to trace sources of pirated content in real-time.
- In March 2020, Brightcove Inc. announced that due to the global COVID-19 pandemic and to protect its customers, employees, and the broader community, its PLAY 2020 event will not have a physical component in Boston this year. Instead, Brightcove will launch PLAY TV, an innovative, over-the-top streaming experience with the most, must-watch content focused on video. Starting in May, PLAY TV will be available to viewers globally, at no cost, on mobile devices and the web.
Online Video Platform Market Report Coverage
- The report offers a comprehensive quantitative as well as qualitative analysis of the current Online Video Platform Market outlook and estimations from 2022 to 2032, which helps to recognize the prevalent opportunities.
- The report also covers qualitative as well as quantitative analysis of Online Video Platform Market in terms of revenue ($Million).
- Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the Online Video Platform industry.
- A thorough analysis of market trends and restraints is provided.
- By region as well as country market analysis is also presented in this report.
- Analytical depiction of the Online Video Platform Market along with the current trends and future estimations to depict imminent investment pockets. The overall Online Video Platform industry opportunity is examined by understanding profitable trends to gain a stronger foothold.
- Porter’s five forces analysis, SWOT analysis, Pricing Analysis, Case Studies, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Online Video Platform Market are also analyzed.
Global Online Video Platform Market Segmentation
- Video Processing
- Video Analytics
- Video Hosting
- Video Content Management
- Mobile Video
- Live Steaming
- Video Sharing
- Commercial Video platforms
- Media and Entertainment
- IT and Communications
- North America
- The U.S.
- The U.K.
- Rest of Europe
- The Asia-Pacific
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Latin America
- The Middle East