SAN FRANCISCO, Oct. 21, 2020 /PRNewswire/ -- The global online video platforms market size is expected to reach USD 18.7 billion by 2027, according to a new report by Grand View Research, Inc. The market is anticipated to register a CAGR of 17.3% from 2020 to 2027. 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.
Key suggestions from the report:
- The media and entertainment end-use sector is expected to exhibit significant growth during the forecast period owing to an increase in the demand for live video streaming and Video on Demand (VoD) content
- The Asia Pacific regional market is projected to record the highest CAGR of nearly 19% during the forecast period
- The key market players are Akamai Technologies Inc.; Brightcove Inc.; Comcast Cable Communications Management, LLC.; Endavo Media.; Frame.io Inc.; Kaltura, Inc.; Limelight Networks; Longtail Ad Solutions, Inc.; MediaMelon Inc.; Ooyala (Telstra); Panopto; SpotX, Inc.; and Wistia Inc. Inc.
Read 200 page research report with ToC on "Online Video Platforms Market Size, Share & Trends Analysis Report By Component, Type (Video Processing, Video Analytics), Streaming Type (Live Streaming, Video On Demand), By End-use, By Region, And Segment Forecasts, 2020 - 2027'' at: https://www.grandviewresearch.com/industry-analysis/online-video-platforms-market
The rising participation of the global population in online video streaming activities has been recognized as a significant factor in driving the 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 platform (OVP) 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. The e-learning business has become one of the leading beneficiaries of the live streaming video platforms 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.
The outbreak of the novel coronavirus (COVID-19) has led to lockdowns across several regions, resulting in a significant rise in the consumption of online video content as people look at indoor entertainment options to pass their idle time. The lockdowns have also resulted in several governments mandating schools and colleges to conduct online classes. The pandemic has played a significant role in increasing the overall share of the education segment in the market. The rise in online classes has resulted in an overall rise in the revenue of many e-learning platforms. Platforms such as KopyKitab, Unacademy, Vedantu, and Byju's, have witnessed revenue growth in the range of 60% to 200% on a week-on-week basis during the pandemic.
Grand View Research has segmented the global online video platform (OVP) market based on component, type, streaming type, end-use, and region:
- Online Video Platforms Component Outlook (Revenue, USD Million, 2016 - 2027)
- Online Video Platforms Type Outlook (Revenue, USD Million, 2016 - 2027)
- Video Processing
- Video Management
- Video Distribution
- Video Analytics
- Online Video Platforms Streaming Type Outlook (Revenue, USD Million, 2016 - 2027)
- Live Streaming
- Video on Demand
- Online Video Platforms End-use Outlook (Revenue, USD Million, 2016 - 2027)
- Media & Entertainment
- IT and Telecom
- Online Video Platforms Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- Asia Pacific
- South America
- Middle East and Africa (MEA)
List of Key Players of Online Video Platforms Market
- Akamai Technologies
- Brightcove Inc.
- Comcast Cable Communications Management, LLC
- Endavo Media.
- Frame.io, Inc.
- Kaltura, Inc.
- Limelight Networks
- Longtail Ad Solutions, Inc. (JW Player)
- Ooyala (Telstra)
- MediaMelon Inc.
- SpotX, Inc.
- Wistia Inc.
Find more research reports on Digital Media Industry, by Grand View Research:
- Online Gambling Market– The high internet penetration and increasing use of mobile phones among individuals for playing online games from their homes and public places are driving the market.
- Pay TV Market– The integration of advanced predictive analytics models has led to the growing influence of Over-The-Top (OTT) media to provide better-customized suggestions. This advancement has promoted pay TV providers to diversify and enhance their services.
- Influencer Marketing Platform Market– The rising need for brands and agencies to foster deeper connections with consumers is contributing to the growth. Technological proliferation in advertising practices has helped companies to digitalize and disrupt marketing models.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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