Category : ICT | Published at : October-2020 | Delivery Format : PDF | Status: Published | Pages : 190
The global online video platform market is anticipated to grow at a CAGR of around 17.5% during the forecast period 2020 to 2027 and to reach around US$ 19.7 Bn by 2027.
Market Dynamics
Increasing consumers preference for watching online video along with players focus on attracting consumers through online advertising are major factors expected to drive the growth of global market. According to Consumer Technology Association, in 2019 U.S. consumers are expected to spend a combined US$26 billion on music and video subscription services. According to 2018 survey, in the US 90 percent of internet users in the United States accessed YouTube to watch online video. Facebook was ranked second with a 60 percent market reach. In the United States, 85 percent of online users watch online video on a weekly basis.
With the high internet penetration in developing countries and rise in number of smartphone users across the globe players are focused on enhancing the customers reach through promotion and advertising on online platform. This is expected to impact the growth of target market. The social media advertising budgets have doubled worldwide, from US$16 billion in 2014 to $31 billion in 2016. In 2016, internet advertising revenues in the United States surpassed those of cable television and broadcast television. In 2017, internet advertising revenues in the United States totaled US$83.0 billion, a 14% increase over the $72.50 billion in revenues in 2016.
Major players focus on strategic business decisions that are expected to enhance the profit ratio is expected to augment the growth of target market.
In 2020, Qumu a leading provider of cloud-based Enterprise Video technology launched Qumu Cloud Build and Price Tool. The tool is expected to allow users to quickly customize an annual cloud video subscription based on parameters like storage and bandwidth needs, distribution requirements, authenticated user limits and more. This is expected to help company to enhance the customer base.
In 2020, Brightcove Inc. a global provider of cloud services for video partnered with Cvent a provider of leading meetings, events, and hospitality technology. The partnership is focused on offering Brightcove video solutions as part of Cvent’s newly-launched Virtual Attendee Hub. This is expected to help the company to enhance the business presences.
In 2020, the company launched Brightcove Virtual Event Experiences, a solution that allows organizations to deliver high-quality virtual events featuring bold, interactive experiences. This is expected to help the company to enhance the customer base and increase the revenue share.
In 2020, Revry a global streaming network company partnered with Brightcove Inc. in order to deliver upon consumers’ shifting viewing preferences which include access to more live TV content through Brightcove Beacon. This is expected to help the company enhance the customer base.
In 2019, Brightcove Inc. a global provider of cloud services for video acquired Ooyala, a provider of cloud video technology. This acquisition is expected to help the company to enhance the business process and increase the customer base.
However, factors such as availability of free open-source and free online video platform and issues related to network congestion are expected to hamper the growth of global market.
High investment by major players and focus on adoption of analytics in order to provide service according to customers need are factors expected to create new opportunities for players operating in the global market over the forecast period..
Segment Analysis by Region
The market in Asia Pacific is expected to account for significant revenue share in the global market due to high internet penetration. In addition, developing IT infrastructure and players providing enhanced solution according to consumer needs are factors expected to support the growth of target market.
In addition, increasing merger and acquisition activities by major players in order to increase the customer base and increase the revenue share are factors expected to boost the growth of target market in this region.
Competitive Landscape
The global market is high highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.
Report coverage
|
Market |
Global Online Video Platform Market |
|
Analysis Period |
2016 – 2027 |
|
Base Year |
2019 |
|
Forecast Data |
2020 – 2027 |
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Market Stratification |
Type, Application, End Use and Geography |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
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Report Coverage |
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
Online Video Platform Market Segment Analysis, 2019
The global market is segmented into type, application and end use. The type segment is bifurcated into video analytics, video hosting, video content management, mobile video, live steaming, and others. The video analytics segment is expected to account for major revenue share in the target segment.
The application segment is divided into video sharing, commercial video platforms, and others. Among the application segment the commercial video platforms is expected to account for significant revenue share in the global market. The end use is segment into individual, content creator, and brand and enterprises.
The players profiled in the report are Kaltura Inc., Panopto, Brightcove Inc., Frame.io, Inc., Limelight Networks Inc., YouTube, Ooyala Inc., MediaMelon Inc., Akamai technologies, and Comcast Technology Solutions.
Market Segmentation
Market By Type
Video Analytics
Video Hosting
Video Content Management
Mobile Video
Live Steaming
Others
Market By Application
Video Sharing
Commercial Video platforms
Others
Market By End User
Individual
Content creator
Brand and enterprises
Market By Region
North America
- U.S.
- Canada
Europe
- UK
- Germany
- France
- Spain
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest if Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Meddle East & Africa
Frequently Asked Questions
Increasing consumers preference for watching online video along with players focus on attracting consumers through online advertising are major factors expected to drive the growth of global market.
The global online video platform market in 2027 is expected to be above US$ 19.7 Bn.
In type segment the video analytics segment is growing at faster pace.
The CAGR of the global online video platform market from 2020-2027 is above 17.5%.
In the global market the Asia Pacific region is expected to grow faster.
Some of the players considered in the report scope are Kaltura Inc., Panopto, and Brightcove Inc.
The Asia Pacific is expected to account for major revenue share in the global market.
