Global Online Video Platform Market is valued at approximately USD 8.09 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 20.7% during the forecast period 2023-2030. An Online Video Platform (OVP) is a fee-based software that enables content owners to transcode, manage, publish, track, and monetize video content online. It supports live streaming, recording, and on-demand hosting, gaining traction on handheld devices such as smartphones and tablets due to their compatibility with playing video content anytime, anywhere. Operating on a Software as a Service (SaaS) model, an OVP allows video producers to efficiently handle input, conversion, management, publishing, analysis, storage, and monetization of online videos. This model caters to the growing preference for online video content over traditional methods such as television. Media and entertainment industries are increasingly relying on OVPs to streamline video content processes, contributing to the global market's expansion. The surge in online video production investments, coupled with increased spending on online video advertising are the leading factors that are fueling the market growth across the globe.
In addition, the increasing penetration of internet and smartphones strengthens the market reach of online video platforms for smooth video streaming experiences, which, in turn, augmenting the market demand at a substantial rate. According to the International Telecommunication Union, in 2012, the global internet user base was estimated at around 2.4 billion individuals. This figure has consistently grown at a rate of 8.24%, reaching approximately 5.3 billion internet users by the year 2022.. The adoption of smartphones and tablets has made online video consumption easily accessible, with OVPs capitalizing on mobile technology. Also, the rising popularity of online video content over traditional media has led to increased demand for OVPs, as users increasingly turn to online platforms for entertainment, education, and information, driving market expansion. Live streaming features on platforms such as Twitch and YouTube garner massive audiences for gaming, e-commerce, concerts, and real-time events. Moreover, the increasing investment in online video production, as well as the advancements in video technology presents various lucrative opportunities over the forecast years. However, the possibilities of network congestion due to slow networks and the availability of open-source video platforms are hindering the market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Online Video Platform Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the rising implementation of advanced 5G network technology, enhancing the speed and agility of online video platforms. Additionally, a high number of enterprises are leveraging these platforms to promote their products and services, thereby enhancing their brand identity. Whereas, Asia Pacific is expected to grow at the fastest CAGR over the forecast years. The growing use of video-on-demand and live-streaming videos on online platforms within the media and entertainment sector, facilitated by increasing internet penetration in the region is significantly propelling the market demand. The popularity of user-generated video content on free hosting platforms such as YouTube is contributing significantly to the surge in online video platform usage. Moreover, the availability of live video streaming features on social media platforms such as Facebook and LinkedIn are further amplifying the overall user base on online video platforms, which is fueling market growth.
Major market players included in this report are:
Akamai Technologies
Brightcove Inc.
Comcast Cable Communications Management, LLC
Endavo Media.
Frame.io, Inc.
Kaltura, Inc.
Limelight Networks
Longtail Ad Solutions, Inc. (JW PLAYER)
MediaMelon Inc
Ooyala Inc. (Telstra)
Recent Developments in the Market:
In April 2023, Akamai, a U.S.-based content delivery network company, unveiled innovative cloud-based streaming video computing capabilities during the 2023 NAB Show. These enhancements were designed to support Over-the-Top (OTT) operators in delivering superior, customized video experiences to users while simultaneously reducing operational costs and enhancing content monetization efforts. Akamai also introduced modifications to its Common Media Client Data (CMCD) specification and expanded its program by incorporating new Qualified Computing Partners.
In March 2022, K16 Solutions announced the company's collaboration with Panopto Partner, aiming to streamline the transition for customers migrating from legacy providers to Panopto's video platform. This partnership is set to enhance the previously laborious conversion process, often carried out manually on a file-by-file or link-by-link basis. Accordingly, it allows end users to accomplish more tasks in a more time-efficient manner.
In April 2022, Vimeo declared the launch of its enterprise video services directly on the Google Cloud Marketplace for developers. This allows users from diverse industries to seamlessly integrate video into their operations. Additionally, Vimeo offers advanced video software at the enterprise level, enabling businesses to create, manage, deliver, and monetize video content securely and efficiently.
Global Online Video Platform Market Report Scope:
Historical Data - 2020 - 2021
Base Year for Estimation - 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered - Type, Component, Streaming Type, End-user, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope - Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Video processing
Video management
Video distribution
Video analytics
Others
By Component:
Solution
Services
By Streaming Type:
Live streaming
Video on demand
By End-user:
Media & entertainment
BFSI
Retail
Education
IT and telecom
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa
