The global online video platform market is predicted to reach USD 11.60 billion in 2024 and USD 25.76 billion by 2029, growing at a CAGR of 17.30 % during the forecast period.
The increasing consumer demand across the globe is a factor that is expected to lead the Online Video Platform market during the forecast period. Typically, the Online Video Platform is used to manage and reach seamless delivery of video content to the favorite audience in a cost-effective manner, which facilitates video content owners and also publishers with different functions such as transcoding and converting different file formats, accessibility, sharing of content, ingesting, editing, content storage, security of content, monetization and metrics, usage and engagement analytics, content syndication, distribution.
The rapid growth of the young population, improved advertising revenues coupled with increased usage of 3G and 4G, and the advent of 5G and portable devices are expected to play an essential role in the growth of the market of Online Video platforms across the globe. Another factor is the rising popularity of online videos, with viewership steadily surpassing traditional video content platforms such as cable and satellite television, accelerating the growth of the Online Video Platform market during the forecast period. Global introduction and adoption of the 5G network in the upcoming years subsequently increase video content consumption on online platforms; the growing practice of designing video-based marketing content to increase brand awareness among users attracts more enterprises towards the online video platform market, super-fast internet browsing speed promised by the network are some of the factors promotes the growth of the revenue rate of Online Video Platform market during the forecast period.
The high cost of innovation for Online Video platforms is one of the important barriers to market growth. The accessibility of free and open-source online video platforms and increasing data security threats are essential deterrents to the growth of the online video platform market.
Most schools and colleges have closed due to the strict regulations imposed by the government authorities to reduce the spread of the virus. Because of this, all the school and college management have decided to conduct online classes for their students to complete their syllabus. Because of this, the online video platform has gained more revenue even during the lockdown time, irrespective of the other industries.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2023 to 2029 |
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Base Year |
2023 |
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Forecast Period |
2024 to 2029 |
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CAGR |
17.30% |
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Segments Covered |
By Component, Type, Streaming Type, End User, and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
YouTube, Akamai Technologies, Kaltura Inc., Panopto, Brightcove Inc., Ooyala, Inc., MediaMelon, INC., Frame.io, Inc., Limelight Networks Inc., Comcast Technology Solutions, and others. |
The Online Video Platform Market is divided into solutions and services. Among these segments, the solution segment held the prominent share in terms of revenue and is predicted to remain at the forefront throughout the forecast period due to factors such as surging demand for subscription-based video content over OTT platforms. Furthermore, the availability of low and free-cost video hosting platforms and modernization features, such as running ads between the videos, promote the demand for this segment. However, the services segment is also expected to increase the market value due to increasing demand for qualified and managed services for video streaming platforms.
The Online Video Platform Market is segmented into video processing, management, distribution, analytics, and other types. Among these segments, the video processing segment holds a significant share of the market, and this segment is expected to hold dominance during the forecast period as this segment provides features such as efficient IP conversion, encryption, and also streaming into a modular and visualized solution, high-density transcoding, adaptive bitrate packaging. Furthermore, these solutions give broadcasters a cost-efficient way to offer online video solutions on live streaming and video-on-demand platforms. The video management segment has the second largest market share due to the rising popularity of video management platforms such as optimized functionality.
The Online Video Platform Market is divided into live streaming and video-on-demand. Of these segments, the video-on-demand segment holds the prominent share, and it is predicted to remain at the forefront in the upcoming years owing to the easy availability of videos over the cloud and the chance to optimize the revenue from ads by delivering more relevant ad copy according to user interest.
The Online Video Platform Market is divided into media and entertainment, BFSI, retail, education, IT, and telecom. The media and entertainment segment held a prominent market share owing to factors such as a surge in internet connectivity on mobile phones and increasing investments worldwide to improve the OTT infrastructure.
North American region holds a significant market share due to the introduction of advanced 5G network technology, making online video platforms much quicker and more agile. Furthermore, the increasing number of enterprises in the region, especially in the United States, promotes market demand. The North American region is expected to dominate during the forecast period. Asia Pacific region is also projected to grow in the market due to the rising scope of video on demand. Also, live streaming videos over online video platforms help the market's growth in the Asia Pacific region. Europe is following in leading the market's dominant shares owing to increasing government support.
The major companies operating in the global Online Video Platform market include YouTube, Akamai Technologies, Kaltura Inc., Panopto, Brightcove Inc., Ooyala, Inc., MediaMelon, INC., Frame.io, Inc., Limelight Networks Inc., and Comcast Technology Solutions.
Your YouTube video watch page on mobile received a facelift in May 2020. This new design came days after Google announced that both Android and iOS applications would soon receive the update. Through this update, YouTube mob can now view and post comments by simply tapping the comment box underneath the channel bar.
By Component
Solutions
Services
By Type
Video Management
Video Distribution
Video Analytics
By Streaming Type
Live Streaming
Video On Demand Type
By End User
Media And Entertainment
BFSI
Retail
Education
IT and Telecom
By Region
North America
The United States
Canada
Rest of North America
Europe
The United Kingdom
Spain
Germany
Italy
France
Rest of Europe
The Asia Pacific
India
Japan
China
Australia
Singapore
Malaysia
South Korea
New Zealand
Southeast Asia
Latin America
Brazil
Argentina
Mexico
Rest of LATAM
The Middle East and Africa
Saudi Arabia
UAE
Lebanon
Jordan
Cyprus
Frequently Asked Questions
Cloud-based deployment is a major trend in the OVP market, offering scalability, cost-effectiveness, and easy accessibility. Many businesses prefer cloud solutions, contributing to the overall expansion of the market.
The surge in Over-The-Top platforms has significantly boosted the OVP market, as these platforms rely on robust video delivery infrastructure. OVP providers play a crucial role in supporting the growth of OTT services globally.
Continuous advancements in video compression technologies, such as HEVC (High-Efficiency Video Coding) and AV1, contribute to improved video quality and reduced bandwidth consumption, positively impacting the OVP market.
OVP providers are integrating AI and machine learning algorithms to analyze user preferences and behavior, facilitating personalized content recommendations. This approach enhances user engagement and satisfaction in the dynamic global market.
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