Summary
Major players in the online video platform market are MediaMelon Inc., Akamai Technologies Inc., Kaltura Inc., Panopto, Brightcove Inc., Comcast Technology Solutions, Endavo Media & Communications Inc., Frame.io Inc., Edgio Inc., Longtail Ad Solutions Inc., SpotX Inc., Wistia Inc., YouTube, Ooyala Inc., Dalet Digital Media Systems USA Inc., Pixability, VideoBloom Inc., Cincopa, Dacast Inc., Ensemble Video Platform, Niche Video Media LLC, Vimeo Inc., and Dailymotion SA.
The global online video platform market is expected to grow from $8.28 billion in 2022 to $9.97 billion in 2023 at a compound annual growth rate (CAGR) of 20.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The online video platform market is expected to grow to $20.63 billion in 2027 at a CAGR of 19.9%.
The online video platform market includes revenues earned by entities by providing services such as video hosting, video content management, mobile video, live streaming, brand customization, video monetization, white-label streaming, and private or secure streaming.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Online video platforms refer to a media service that allows users to search, file, and upload video content on the Internet that requires a subscription.
North America was the largest region in the online video platform market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the online video platform market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of online video platforms are video processing, video management, video distribution, video analytics, and other types.Video processing refers to the process of editing the images and sounds contained in video files using hardware, software, or a combination of the two that allows users to draw storyboards, create layouts that include various types of content, and add music well as text to the video.
Business models such as the user-generated content (UGC) model, the software as a service (SaaS) model, and the do-it-yourself (DIY) model are used for live streaming and video on demand for various applications such as content creation, and brand and enterprise by several end-users such as media and entertainment, BFSI, retail, education, IT and telecom, and others.
The growing demand for smartphones is expected to propel the growth of the online video platform market going forward.A smartphone refers to a portable electronic gadget with cellular connectivity and a multi-functional mobile phone handset with features such as a camera, web browser, and high-density display.
Smartphones can operate video streaming services such as live streaming capabilities, 24/7 support, adaptive bit-rate streaming, and other services, which act as an online video platform for video playback to provide entertainment.For instance, according to the Mobile Economy Report 2021, published by the Global System for Mobile Communications Association (GSMA), a UK-based industry organization that represents the interests of mobile network operators worldwide, the number of smartphone connections across the world was 68% in 2020 and is expected to reach 81% by 2025.
Furthermore, in Europe, smartphone adoption is expected to increase from 78% in 2020 to 83% in 2025. Thus, the growing demand for smartphones is driving the online video platform market.
Technological advancement is a key trend in the online video platform market.Major companies operating in the market are advancing toward video technology.
For instance, in May 2020, Minute Media, a UK-based digital-first media company, launched Voltax Video, an online video platform designed to improve the online video strategies of digital publishers.Voltax Video offers a publishing-as-a-service (PaaS) solution for other digital publishers using video technology tools to increase engagement, content, audiences, and monetization.
With Voltax Video, upfront costs are eliminated, and scaling is built into the model to provide sophisticated insights and reporting for both publishers and viewers to create a more efficient and effective video experience.
In September 2022, Wowza Media Systems LLC, a US-based software company providing video platforms, acquired Flowplayer for an undisclosed amount.Through this acquisition, Wowza would enhance its product offering by integrating Flowplayer technology into Wowza Video and Wowza Streaming Engine and expand its physical presence in Europe.
Flowplayer is a Sweden-based company that provides video player solutions, including online video platforms for broadcasters, publishers, and media houses. The Flowplayer video player offers responsive playback, granular customization, and a rich plugin library.
The countries covered in the online video platform market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The online video platforms market research report is one of a series of new reports that provides online video platforms market statistics, including online video platforms industry global market size, regional shares, competitors with an online video platforms market share, detailed online video platforms market segments, market trends, and opportunities, and any further data you may need to thrive in the online video platforms industry. This online video platforms market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
