Press release
Online Video Platform Market Set to Reach $31.26 Billion by 2029 with 22% Yearly Growth
Online Video Platform Market Size
The escalating need for smartphones is projected to stimulate the progress of the online video platform market in the future. A smartphone is defined as a portable digital device with cellular access and a multifunctional mobile phone unit equipped with capabilities such as a camera, internet browser, and high-resolution display. Smartphones have the ability to run video streaming services such as live streaming functionalities, 24/7 support, adaptive bit-rate streaming, among others. Consequently, these act as an online video platform for video playback to offer entertainment. For instance, in 2023, the Groupe Speciale Mobile Association, a UK-based trade organization, recorded as of January 2023 that there were 229 established 5G networks globally, and over 700 variations of 5G smartphones were introduced, with more than 200 being developed in 2022. Therefore, the increasing appetite for smartphones is propelling the online video platform market forward.
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What growth opportunities are expected to drive the online video platform market's CAGR through 2034?
The market size for online video platforms has experienced significant growth recently. It's projected to increase from $11.83 billion in 2024 to $14.13 billion in 2025, reflecting a compound annual growth rate (CAGR) of 19.4%. The historic periods' growth can be credited to the surge in online video consumption, the emergence of over-the-top (OTT) services, opportunities for monetization, global spread of content distribution, and both content creation and user-generated content (UGC).
The market size for the online video platform is predicted to experience significant growth in the upcoming years, with an expansion to $31.26 billion by 2029 and a compound annual growth rate (CAGR) of 22.0%. The expected growth during the projected period is due to the rise in streaming services, incorporation of artificial intelligence (AI), the rise of virtual events and live streaming, improved mobile video consumption, collaborations and production of original content. Key trends during the prediction period comprise of improved moderation of content and safety measures, worldwide extension of video-on-demand (VOD) services, incorporation of e-commerce and purchasable videos, implementation of high-end video compression technologies, and advancements in video analytics and audience insights.
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What are the emerging trends shaping the future of the online video platform market?
The rise in technology is a significant trend in the online video platform market. Major players in the market are moving towards improved video technology. For example, in September 2022, Minute Media, a digital-first media company based in the UK, introduced its own supply-side platform (SSP) to deliver a more streamlined and direct link between publishers and brands in the programmatic advertising ecosystem. The SSP created by Minute Media is compatible with Voltax, its unique video and multimedia publishing-as-a-service platform, in addition to a variety of third-party video players, demand wrappers, and some of the world's biggest DSPs that connect directly or through programmatic infrastructure supplier, BidSwitch. Additionally, new collaborators are consistently being incorporated.
Which growth-oriented segments of the online video platform market are leading the industry's development?
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
Subsegments:
1) By Video Processing: Encoding And Transcoding Services, Video Editing Tools, Real-Time Video Processing
2) By Video Management: Content Management Systems (CMS), Digital Asset Management (DAM), Metadata Management
3) By Video Distribution: Content Delivery Networks (CDN), Live Streaming Services, Video Hosting Platforms
4) By Video Analytics: Viewer Engagement Analytics, Performance Metrics And Reporting, Audience Insights And Demographics
5) By Other Types: Video Monetization Solutions, Security And DRM (Digital Rights Management), Interactive Video Features
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What regions are leading the charge in the online video platform market?
North America was the largest region in the online video platform market in 2024. 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.
What companies are at the forefront of innovation in the online video platform market?
Major companies operating in the online video platform market include 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., 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
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What Is Covered In The Online Video Platform Global Market Report?
•Market Size Forecast: Examine the online video platform market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the online video platform market for a structured understanding.
•Key Players Overview: Analyze major players in the online video platform market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the online video platform market.
•Segment Contributions: Evaluate how different segments drive overall growth in the online video platform market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the online video platform market.
•Industry Challenges: Identify potential risks and obstacles affecting the online video platform market.
•Competitive Landscape: Review strategic developments in the online video platform market, including expansions, agreements, and new product launches.
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