Online Video Platform Global Market Expected to Witness $25.49 Billion with Impressive Growth at a 20.5% CAGR By 2028

Overview and Scope
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.

Sizing and Forecast
The online video platform market size has grown exponentially in recent years. It will grow from $10.01 billion in 2023 to $12.08 billion in 2024 at a compound annual growth rate (CAGR) of 20.6%.  The growth in the historic period can be attributed to surge in online video consumption, rise of over-the-top (OTT) services, monetization opportunities, globalization of content distribution, content creation and user-generated content (UGC).

The online video platform market size is expected to see exponential growth in the next few years. It will grow to $25.49 billion in 2028 at a compound annual growth rate (CAGR) of 20.5%.  The growth in the forecast period can be attributed to proliferation of streaming services, integration of artificial intelligence (AI), emergence of virtual events and live streaming, enhanced mobile video consumption, collaborations and original content production. Major trends in the forecast period include enhanced content moderation and safety measures, global expansion of video-on-demand (VOD) services, integration of e-commerce and shoppable videos, adoption of high-quality video compression technologies, innovations in video analytics and audience insights.

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Segmentation & Regional Insights
The online video platform market covered in this report is segmented –
1) By Type: Video Processing, Video Management, Video Distribution, Video Analytics, Other Types
2) By Business Models: User Generated Content (UGC) Model, Software As A Service (SaaS) Model, Do It Yourself (DIY) Model
3) By Streaming Type: Live Streaming Type, Video On Demand
4) By Application: Content Creator, Brand And Enterprise
5) By End-User: Media And Entertainment, BFSI, Retail, Education, IT And Telecom, Other End-Users

North America was the largest region in the online video platform market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global online video platform market during 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, Africa.

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Major Driver Impacting Market Growth
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.

Key Industry Players
Major companies operating in the online video platform market report are International Business Machines Corporation, YouTube LLC, TwentyThree ApS, Akamai Technologies Inc., MediaMelon Inc., SproutVideo LLC, Ziggeo Inc., Vimeo Inc., VideoBloom Inc., Edgio Inc., Dailymotion SA, Brightcove Inc., Comcast Technology Solutions, SpotX Inc., Longtail Ad Solutions Inc., Dalet Digital Media Systems USA Inc., Ooyala Inc., Vidyard Inc., Kaltura Inc., Wistia Inc., Pixability Inc., Livestream LLC, Vplayed Inc., Dacast Inc., Endavo Media & Communications Inc., Cincopa Ltd., Frame.io Inc., Panopto Inc., Niche Video Media LLC, Ensemble Video Platform

The online video platform market report table of contents includes:
1. Executive Summary
2. Online Video Platform Market Report Structure
3. Online Video Platform Market Trends And Strategies
4. Online Video Platform Market – Macro Economic Scenario
5. Online Video Platform Market Size And Growth
…..
32. Global Online Video Platform Market Competitive Benchmarking

33. Global Online Video Platform Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Online Video Platform Market

35. Online Video Platform Market Future Outlook and Potential Analysis

36. Appendix

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