Global Online Video Platforms Market to Surpass USD 30.05 billion by 2030 Driven by Increasing Usage of Smartphones
SkyQuest projects that the global online video platforms market will attain a value of USD 30.05 billion by 2030, with a CAGR of 17.19% during the forecast period (2024-2031). The share of the global online video platforms market is estimated to increase at a positive CAGR between 2024 and 2031. The growing popularity of online video gaming and entertainment is expected to drive the market adoption. Online video platforms are free or paid platforms for publishers and content owners to view, publish and consume online video content on their channels. Moreover, the increasing usage of smartphones, tablets and other devices will create a favorable environment for the growth of the market. Online video platforms allow users to upload their own videos, promote and play live videos.
Westford USA, Feb. 20, 2024 (GLOBE NEWSWIRE) — Online video offers users a way to share and watch videos with minimal effort. Additionally, these platforms provide a way for creators to quickly reach large audiences with their content. In addition, these platforms provide a platform for companies to create engaging videos promoting their products and services. As the global online video platforms market continues to grow, online videos will continue to be popular with users and developers.
Browse in-depth TOC of “Online Video Platforms Market”
● Pages – 165
● Tables – 117
● Figures – 77
The growing trend of creating video-based marketing content to increase users’ brand awareness in the global online video platforms market is attracting more and more companies to online video platforms. For example, in April 2020, Procter & Gamble partnered with Charli D’Amelio to create the #DistanceDance challenge, asking people to encourage and use social distance. In the first week of the campaign, more than eight million people watched the video, and 1.7 million people uploaded their own video.
Prominent Players of Global Online Video Platforms Market
- Brightcove Inc.
- Kaltura Inc.
- Ooyala Inc.
- IBM Corporation
- Akamai Technologies Inc.
- Comcast Technology Solutions
- Wistia Inc.
- Vimeo LLC
- MediaPlatform Inc.
- Sonic Foundry Inc.
- Vidizmo LLC
- Haivision Inc.
- Panopto Inc.
- Vidyard Inc.
- Qumu Corporation
- JW Player Inc.
- Limelight Networks Inc.
- Dacast Inc.
- Vplayed
- Dailymotion SA
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Commercial Video Platform Segment to Dominate Market Owing to Increasing Use of Online Video
In terms of applications, the commercial video platform segment is expected to dominate the global online video platforms market. The increasing use of online video by major entertainment and media industries is squeezing demand in the market.
North America will account for the largest share of the global online video platforms market by 2022 at 36.4%. The introduction of advanced 5G communication technologies is likely to further the promising growth of the sector in the coming years, making online video services faster and faster. Furthermore, an increasing number of companies are using online video platforms to promote their products and services to raise their brand profile.
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Video Sharing Segment to Witness Significant Growth Owing to Increasing Digitization
On the other hand, the video sharing segment is expected to grow rapidly during the analytical period due to the rise of social media in the global online video platforms market. Furthermore, there is more focus on digitization and efforts by key players to collaborate with online platforms together to drive sector-wide improvements.
Asia-Pacific is expected to expand at the fastest CAGR of 22.8% during the forecast period. The global online video platforms market is expected to benefit from the increasing popularity of video-on-demand and live streaming video online video platforms in the media & entertainment sector as internet penetration continues to grow across the region.
A comprehensive analysis of the major players in the global online video platforms market has been recently conducted in this report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.
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Key Developments of Global Online Video Platforms Market
- In April 2023, Brightcove Inc. will have 1,000 shares. can sell its shares and Play Media, a media platform for media engagement. The partnership allows customers to access and request access to services such as closed captioning, live captioning, audio description and video localization directly from their existing video production workflows.
- In February 2023, Brightcove Inc., a navigation technology company, launched Brightcove Communications Studios. Studio offers a range of features, including streaming, secure viewing, live and on-demand information, including multilingual support, easy-to-use video management and printing interfaces, and communication features.
Key Questions Answered in Global Online Video Platforms Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how do these differences shape the market’s future growth?
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