Online Video Platform Industry Overview
The global online video platform market size is expected to reach USD 22.85 billion by 2028, according to a new report by Grand View Research, Inc. The market is anticipated to register a CAGR of 18.4% from 2021 to 2028. The increasing adoption of video content for advertisement and branding activities over traditional marketing campaigns across sectors/industries, such as e-commerce, healthcare, manufacturing, and real estate, is driving the market. For instance, sellers on e-commerce sites such as Amazon and Zappos.com use product videos on their portals to provide customers a 360-degree view of products and help them choose the best match. The increased expenditure on online video advertisements is acting as a major factor driving the growth of the market. For instance, in 2019, SAMSUNG Electronics spent around USD 2.41 billion majorly on an online video campaign to promote its Galaxy series smartphones in the U.S.
The rising participation of the global population in online video streaming activities has been recognized as a significant factor driving the global market growth. Live video streaming is gradually becoming an essential advertisement model for various brands. One of the biggest gainers of this business model is live sports streaming channels. The rising number of sporting events globally and a continuously increasing number of subscribers make online video platforms a lucrative investment opportunity for the media and entertainment industry. Furthermore, the advent of the 5G telecom network is enabling viewers to stream HD video content seamlessly. In addition, The e-learning business has become one of the leading beneficiaries of the live streaming video platform due to the increasing adoption of e-learning in corporate and academic setups coupled with the increased number of mobile learning applications containing analytics that helps track the progress of students.
Online Video Platform Market Segmentation
For this report, Grand View Research has segmented the global online video platform market based on component, type, streaming type, end-user, and region:
Based on the Component Insights, the market is segmented into Solution and Services.
- The solution segment accounted for the largest revenue share of 53.8% in 2020. This is attributed to the surging demand for subscription-based video content over the OTT platform, coupled with a continuous rise in demand for live streaming video platforms.
- In addition, the availability of low- and free-of-cost video hosting platforms and monetization features, such as running ads between videos, are anticipated to fuel the growth of the solution segment over the forecast period. The segment is expected to register a 15.7% CAGR over the forecast period.
- The service segment is expected to demonstrate significant growth over the forecast period. This can be attributed to the increasing demand for professional and managed services for video streaming platforms.
- With the rise of cloud-based video content, data security threats are also increasing. To counter these threats, enterprise-managed services provide cloud security solutions that enable users to protect their websites, applications, and cloud data centers against a multitude of cyber attacks.
Based on the Streaming Type Insights, the market is segmented into Live Streaming and Video on Demand.
- The video-on-demand segment accounted for the largest revenue share of over 76.9% of the total market revenue in 2020. The growth can be attributed to the easy accessibility of videos over the cloud, which gives freedom to stream videos in real-time from any location.
- Live video streaming is becoming increasingly popular as a growing number of sports streaming events with customized chat room features are attracting more subscribers.
Based on the Type Insights, the market is segmented into Video Processing, Video Management, Video Distribution, Video Analytics, and Others.
- The video processing segment accounted for the largest revenue share of 38.6% in 2020.
- In 2020, the video management segment accounted for the second-largest share in the online video platform market in terms of revenue.
- The video analytics segment is expected to register the highest CAGR during the forecast year. The growth of video analytics platforms can be attributed to the continuous advancements in video reporting structures such as video consumption patterns, geographical reach, campaign engagement, and a comprehensive view of ROI.
Based on the End-user Insights, the market is segmented into Media & Entertainment, BFSI, Retail, Education, IT and Telecom, and Others.
- The media and entertainment segment held the highest market share of over 37.8%. The segment is expected to retain its dominance over the forecast period.
- The segment has recorded significant growth due to a surge in internet connectivity on mobile phones and increased investments across the globe in improving the OTT infrastructure.
- Education emerged as the second-largest end-user segment in terms of revenue in 2020.
- The segment is also expected to register the highest CAGR over the forecast period. With the introduction of advanced learning analytics dashboards over e-learning platforms, keeping track of learning progress and live interaction has become much easier.
Online Video Platform Regional Outlook
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
Vendors are focusing on initiatives such as collaborations, acquisitions and mergers, and partnerships.
Some of the prominent players operating in the global online platform market are:
- Akamai Technologies
- Brightcove Inc.
- Comcast Cable Communications Management, LLC
- Endavo Media.
- io, Inc.
- Kaltura, Inc.
- Limelight Networks
- Longtail Ad Solutions, Inc. (JW PLAYER)
- MediaMelon Inc.
- Ooyala Inc. (Telstra)
- Panopto
- SpotX, Inc.
- Wistia Inc. Inc.
Order a free sample PDF of the Online Video Platform Market Intelligence Study, published by Grand View Research.
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