Online Video Platform Market

Online Video Platform Market Size & Growth (2022 - 2027)

The Online Video Platform Market was worth US$ 6.13 billion in 2020, and it is estimated to reach a valuation of US$ 18.7 billion by the end of 2026, expanding at an annual growth rate of 17.3% between 2021 and 2026. The increasing consumer demand across the globe is a factor that is expected to lead the Online Video Platform market during the forecast period.

Normally, the Online Video Platform is used to manage and achieve seamless delivery of the video content to the desired audience in a cost effective manner which facilitates video content owners and also the 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.

Recent Developments

• You tube’s video watch page on mobile has received a facelift in the month of May 2020 in which this new design comes days after the Google company has announced that both Android and IOS applications will also receive the update soon. Through this update, YouTube mob now view and also post the comments by simply tapping on the comment box which is just underneath the channel bar.

Drivers

Rapid growth of young population, improving of advertising revenues which was coupled with increased usage of 3G, 4G and the advent of 5G and portable devices is expected to play an essential role in the growth of market of Online Video Platform across the globe. Another factor such as rising popularity of online videos with viewership steadily surpassing the traditional video content platforms such as cable and satellite television accelerates the growth of Online Video Platform market during the forecast period. Global introduction and adoption of 5G network in the upcoming years subsequently increases video content consumption on online platforms, growing practice of designing video based marketing content to increase the brand awareness among the users attracts more number of 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.

Restraints

High cost of innovation for Online Video Platform is one of the important barriers to market growth. Availability of free and open source online video platform, increasing of data security threats acts as an important deterrent to the growth of the Online Video Platform market.

Market Segmentation

The Online Video Platform market is segmented based on:

• Component
• Type
• Streaming Type
• End User.

By component, the Online Video Platform Market is divided into two types namely 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 the factors such as surging demand for subscription based video content over OTT platforms. Furthermore, availability of low and free cost video hosting platforms and modernization features such as running ads between the videos promotes the demand for this segment. However, the services segment is also expected to increase the market value due to the factors such as increasing of demand for professional and managed services for video streaming platforms.

By type, the Online Video Platform Market is segmented into video processing, video management, video distribution, video analytics and other types. Among these segments, the video processing segment holds the major share of the market and this segment is expected to hold the 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 solution give broadcasters a cost efficient way to provide online video solutions both on the live streaming and also on the video on demand platform. The video management segment is having the second largest share of the market due to the rising popularity of video management platforms such as optimized functionality.

By streaming type, the Online Video Platform Market is divided into live streaming and video on demand type. Among these segments, the video on demand segment held 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 also the chance to optimize the revenue from ads by delivering the more relevant ad copy as per user interest.

By end user, the Online Video Platform Market is divided into media and entertainment, BFSI, retail, education, IT and telecom. Among these segments, the media and entertainment segment held prominent share of the market owing to the factors such as surge in internet connectivity on mobile phones as well as increasing of investments across the world to improve the OTT infrastructure.

Regional Analysis

North America region hold the prominent share of the market due to the factors such as introduction of advanced 5G network technology, making online video platform much quicker and agile. Furthermore, increasing number of enterprises in the region especially in United States promotes the demand for the market. The North America region is expected to hold the dominance during the forecast period.

Asia Pacific region is also expected to increase the market growth due to the rising scope of video on demand and also live streaming videos over the online video platforms helps the growth of the market in the Asia Pacific region.

Europe is next in leading the dominant shares of the market by owing to increasing support from the government.

Leading Company

YouTube Company is the leading company in Online Video Platform market.

Key Players

Key market participants of Online Video Platform market are YouTube, Akamai Technologies, Kaltura Inc., Panopto, Brightcove Inc., Ooyala, Inc., MediaMelon, INC., Frame.io, Inc., Limelight Networks Inc., and Comcast Technology Solutions.

Impact of COVID 19 on Online Video Platform Market

Most of the schools and colleges has closed due to the strict regulations imposed by the government authorities to reduce the spread of the virus. Due to this, all the schools and college management has decided to conduct online classes to 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.