The global online video platform market is expected to register a high CAGR during the forecast period, between 2021 and 2028. Online video platform is a payment-based type of software that lets publishers and content owners manage, transcode, track, publish, store, and monetize audio-visual content on their channels. Transcoding and converting different file formats, editing, ingesting, accessibility and sharing of content, content security, content storage, content syndication, monetization, distribution, and usage, metrics, and engagement analytics are some of the functions of online video platform. Online video platforms are becoming increasingly preferred on handheld devices such as smartphones, laptops, and tablets. An individual can watch live or pre-uploaded video content on these devices at any time and from any location as long as they are compatible. It is primarily used to achieve and manage cost-effective delivery of video content to the desired audience. Furthermore, the platform streamlines video live streaming while simultaneously recording the live broadcast and hosting videos.
Market Trends, Drivers, Restraints, and Opportunities:
- Growing demand for online content among millennial generation and creators is expected to drive market growth.
- Increased spending on online video advertising and marketing is driving the future market growth.
- Increased use of 4G network, as well as the introduction of 5G and portable devices, is estimated to fuel the growth of the market.
- The availability of free and open-source online video platforms can hinders the market expansion.
- Data security concerns, as well as stringent government and market players’ standards that guide online video content, are anticipated to impede the market growth.
- Growing scope for live video streaming in low-income countries and emerging economies is expected to provide lucrative opportunities for market growth.
Scope of the report:
The report on online video platform market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
Global Online Video Platform Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast
2018 & 2019
Components (Services and Solutions), Types (Mobile Video, Video Analytics, Video Distribution, Video Management, Video Processing, and Others), Business Models (DIY Model, SaaS Model, and UGC Model), Applications (Commercial Video Platforms, Live Streaming, Video Sharing, and Others), End-users (BFSI, Brand & Enterprise, Content Creator, Education, IT & Telecommunication, Media & Entertainment, Retail, and Others)
Asia Pacific, North America, Europe, Latin America, and Middle East & Africa
Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast
Online Video Platform Market Segment Insights:
Solution segment is projected to hold significant market share
Based on components, the online video platform market can be bifurcated into services and solutions. The solutions segment is projected to hold significant market share owing to a surge in demand for subscription-based video content through the OTT platform, as well as a steady increase in demand for live streaming video platforms. Furthermore, the availability of no and low-cost video hosting platforms, as well as monetization features such as running ads between videos, are expected to drive the solution segment's growth during the forecast period. The services segment is anticipated to expand at robust pace in the coming years due to the increased demand for managed and professional video streaming platform services. As the use of cloud-based video content is growing, the risk to data security is expanding at a steady rate. To address these constraints, enterprise managed services provide cloud security solutions that allow users to protect their applications, websites, and cloud data centres from the majority of cyberattacks.
Video processing segment is anticipated to account for a substantial share
On the basis of types, the market can be segmented into mobile video, video analytics, video distribution, video management, video processing, and others. The video processing segment is anticipated to account for a substantial share during the forecast period. Video processing platforms incorporate adaptive bitrate packaging, high-density transcoding, efficient IP conversion, streaming, and encryption into a visually and modular appealing solution. These solutions provide broadcasters with a cost-effective method to deliver online video solutions, both video-on-demand and live streaming.
UGC model segment to register a substantial growth rate in the near future
In terms of business models, the online video platform market can be segregated into DIY model, SaaS model, and UGC model. The UGC model segment is expected to register a substantial growth rate in the near future due to the growing number of mobile Internet users worldwide. Individual users can now create and upload videos to the online video platform owing to the growing number of mobile users. Individual users can express their reviews and opinions about a specific enterprise or brand, assisting millions of users in making better purchasing decisions. Many businesses are utilizing the UGC business model to increase the value of their brand by utilizing video content published by social media influencers.
Video sharing segment to expand at a rapid pace during the forecast period
Based on applications, the market can be divided into commercial video platforms, live streaming, video sharing, and others. The video sharing segment expand at a rapid pace during the forecast period. The easy accessibility of videos over the cloud, which allows freedom to stream videos in real-time from any location, can be attributed to the growth of the market segment. Another factor driving the growth of the video sharing segment is the opportunity to maximize ad revenue by delivering more relevant ad copy based on user interest.
Content creator segment to register a healthy growth rate during the projected timeline
On the basis of end-users, the online video platform market can be segregated into BFSI, brand & enterprise, content creator, education, IT & telecommunication, media & entertainment, retail, and others. The content creator segment is estimated to register a healthy growth rate during the projected timeline owing to the increasing use of social media platforms across the globe. Individual content creators can now create and upload videos to social media platforms due to smartphones and 4G & 5G networks becoming widely available. The rising popularity of free video hosting sites such as Vimeo and YouTube is also driving the segment revenue.
Asia Pacific is estimated to hold a major market share
In terms of regions, the market can be categorized as Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific is expected to dominate the market due to the increased scope of live streaming videos and video-on-demand over online video platforms in the entertainment and media sector. Furthermore, the regional market growth is being boosted by the region's increasing Internet penetration.
- Mobile Video
- Video Analytics
- Video Distribution
- Video Management
- Video Processing
By Business Models
- DIY Model
- SaaS Model
- UGC Model
- Commercial Video platforms
- Live Streaming
- Video Sharing
- Brand & Enterprise
- Content Creator
- IT & Telecommunication
- Media & Entertainment
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- Telstra Corporation Limited
- Google, Inc. (YouTube)
- Limelight Networks, Inc.
- RTL Group S.A.
- Comcast Corporation
- Panopto, Inc.
- Brightcove, Inc.
- Kaltura, Inc.
- Akamai Technologies, Inc.
- Vimeo.com, Inc.
- MediaMelon, Inc.
Key players in the online video platform market are Telstra Corporation Limited, Google, Inc. (YouTube), Limelight Networks, Inc., RTL Group S.A., Comcast Corporation, Panopto, Inc., Brightcove, Inc., Kaltura, Inc., Akamai Technologies, Inc., Vimeo.com, Inc., and MediaMelon, Inc. These players are widely engaged in several market development activities such as collaborations, agreements, mergers & acquisitions, production capacity expansion, new product launches, and partnerships to increase their market share.