According to BlueWeave Consulting, the Global Online Video Platform Market worth is anticipated to reach USD 2015 million in 2026 from USD 713 million in 2019, at a CAGR of 16 % during the projected period 2020-2026. The affordability and accessibility of broadband and mobile network, technological advancements, the growing popularity of online videos over conventional mediums and rise in online video advertising expenditure drive the tremendous growth in Global Online Video Platforms Market. Recently, the trend of live video streaming is also fueling market growth. Besides, availability of smart devices including smartphones, laptop, desktop, tablets, smart TVs and other gadgets in urban and interior areas and increasing internet-user-base across the globe induce the growth of this market.
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Online Video Platforms are
widely used by individuals for watching and uploading pre-recorded or live
video content at any point in time. They help manage and attain the seamless
delivery of content to the desired audience in a cost-effective way. The Global
Online Video Platforms Market comprises content owners, broadcasters and
viewers.
The content owners are original creators of content, or they
possess the rights of the particular video content. The broadcasters consume,
edit and reach the content to the viewers by performing various transitional
activities. They securely obtain, syndicate, distribute and monetize the
content and analyze the metrics related to viewers’ engagement. The market is
booming due to increasing viewership of online video content and diverse
applications.
The Global Video Online Platforms Market is segmented into three
categories based on Type, Application and End-User. The first category ‘Type’
includes segments such as Video Analytics, Video Content Delivery Network,
Video Content Management, Mobile Video Live Streaming and Others. The
Application category is subdivided into Video Sharing, Commercial Video
Platform, and Others, while the End-user category includes Individual, Content
Creator, and Brand & Enterprises.
Video Analytics segment in Type category dominates the market
due to increased outlay and focus of governing institutions on public safety,
need to scrutinize unstructured video content and growing need to leverage
business intelligence among enterprises. It is anticipated to register
tremendous growth with 19% CAGR during the forthcoming period. The Video
Content Delivery Network segment holds the second largest share due to
increasing affordability and accessibility of broadband and mobile network and,
is predicted to record CAGR of 11.7% during the projected period. In the
End-user category, brands and enterprises hold a significant market share and,
is anticipated to maintain the same. All the remaining segments are anticipated
to experience growth during the forthcoming period.
However, availability of open source and free online platforms
for content creators and viewers limit the growth of the Global Online Video
Platforms Market as these platforms cannot monetize the benefits and check the
quality of content. Besides, early entrants usually dominate the market,
leaving less scope for second-best players. Also, the restrictions regarding
auto-renew or direct deduction of subscription impede the market growth in some
nations.
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Young population across
the globe uses more digital devices and consumes online video content. Today’s
youth is tech-savvy and prefers to use the digital medium in place of
conventional medium like TV. Besides, people across all age-group have
increased the use of mobiles and mobiles contribute a lot the broadcasting of
videos to the targeted viewers. Also, the marketers are allocating more and
more outlays to digital marketing over conventional mediums. All these
developments drive the unprecedented growth in Online Video Platform Markets.
Region-wise, North
America holds a larger share in this market due to robust infrastructure,
advanced technological developments in every segment, and more viewership
currently. It is expected to preserve its dominance with a substantial growth
rate in the upcoming period. Besides, Asia-Pacific is also expected to witness
highest and fastest growth during the forthcoming period due to rising online
content consumption in the countries such as Taiwan, China, Japan, India, South
Korea and others.
“The leading
players” in the market include Akamai
Technologies (US), Ooyala Inc.(US), Kaltura Inc.(US), MediaMelon Inc.(US),
Brightcove Inc.(US), Comcast Technology Solutions (UK), Panopto (US), Limelight
Networks Inc.(US), YouTube (US) and Frame.io, Inc. (US)and others.
The in-depth analysis of the report provides the growth
potential, upcoming trends, and statistics of the Global Online Video
Platform Market size & forecast. The report provides insights
about state-of-the-art technology of Global Online Video Platform Market and
industry, which help decision-makers to make sound strategic decisions.
Furthermore, the report also analyzes the market drivers, challenges, and
competitive scenario of the market.
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