Online Video Platform Market Statistics, 2032
The global online video platform market was valued at $7.5 billion in 2022, and is projected to reach $43.2 billion by 2032, growing at a CAGR of 19.5% from 2023 to 2032.
The term "online video platform" (OVP) refers to a software as a service (SaaS) model for licensing online video content that enables video producers to input, convert, manage, publish, analyze, store, and monetize online video. To process and deliver online video material to the target audience, an OVP is utilized. Some services allow users to stream live videos in addition to providing recorded, on demand video. Media and entertainment organizations are focusing more on OVPs to efficiently manage, publish, and monetize video content. The popularity of online videos has surpassed that of the conventional methods of watching video content, such as television and other media, which significantly contributes toward the growth of the global market for online video platforms. As a result of organizations realizing the popularity of online videos in the media and entertainment industry, they are heavily investing in online video production, which is principally responsible for the market expansion.
Furthermore, rise in spending on online video advertising serves as a key driving force of the market for online video platforms. The existence of open source and free online video platforms, however, is a barrier to this market expansion. On the contrary, live streaming of video content and increase in investments in online video content are anticipated to offer remunerative opportunities for the market growth during the forecast period.
Furthermore, the key factors impacting the global online video platform market growth include rise in number of streaming services and increase in popularity of live streams are primarily. However, availability of open-source video platforms affects the market growth to some extent. Conversely, an increase in penetration of smart phones is expected to provide lucrative opportunities for market growth during the forecast period.
The global online video platform market is segmented into type, application, end user, and region. Depending on type, the market is divided into video analytics, video content delivery network, video content management, mobile video, live streaming, and others. According to the application, it is classified into video sharing, commercial video platform, and others. By end user, it is categorized into individual, content creators, and brand & enterprises segments. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the online video platform industry are Akamai Technologies, Brightcove Inc., Endavo Media., Adobe Inc., Kaltura, Inc., Mediamelon, Inc., Panopto, Comcast, Wistia, and JW Player. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the online video platform industry globally.
Depending on type, the video content management segment held the major share of global online video platform market share in 2022. The video content management system offers a dynamic mechanism to ensure the correct content reaches the right viewers at the right time. The need for a video content management system is recognized by video producers and businesses as a solution to these issues, which primarily fuels the expansion of this market. Businesses are able to keep up with the increasing demand due to new developments in recording, streaming, and content management. This increases value in fields such as training, internal communications, and knowledge management. The live streaming segment would showcase the fastest growing during the forecast period, owing to its appealing features, such as an interactive and real-time connection between viewers and the video makers, consumers choose live content over on-demand content.
Region-wise, North America garnered the highest share of global online video platform market size in 2022, and is projected to retain its dominance by 2032, owing to increase in investments are expected to flow into the entertainment and media sector as a result of increased infrastructure investment in the U.S. The market for online video platforms in North America is expanding as a result of the surge in popularity of over-the-top (OTT) video services in the U.S. and Canada. The Asia-Pacific region would also portray the fastest growing during the forecast period, owing to enhanced wireless telecom networks and easy internet access become more widespread in developing nations in this region. Moreover, China have advantage to distribute premium content and monetize via online video due to large-scale investment in original and acquired over-the-top (OTT) content and a relatively smaller market for traditional Pay TV.
Top Impacting Factors
Rise in Number of Streaming Services
Introduction of streaming services such as Netflix, Amazon Prime Video, and Disney+ has provided consumers with more alternatives for watching TV series, movies, and original material online. With their rising popularity, these services are altering how consumers view videos and shattering conventional TV and movie distribution models. Businesses may now more easily and affordably distribute high-quality video content online due to technological improvements. New competitors can now enter the market and compete with long-standing companies. In addition, alterations in consumer preferences have been a significant factor. Consumers' desires for convenience and flexibility are met by streaming services. Consumers can watch their chosen TV episodes and movies on their own time without worrying about advertising or missing an episode.
Moreover, rise of streaming services is spurring new product development. Businesses are investing heavily in original content, which is now a major differentiation for streaming services. High-quality movies and television shows have been produced as a result, and new talent has had possibilities to break into the business. Therefore, all of these factors are fostering global market expansion and are anticipated to do so during the forecast period.
Increase in Popularity of Live Streaming
Online videos are now an essential part of marketers' and businesses' strategic business plans for swaying consumers' purchasing decisions. The use of live video streaming has further become the norm among brand owners. Live streaming describes broadcasts that happen in real time over the internet. Innovative video projects and campaigns that live stream have become a viable choice for B2C and B2B communication. Live streaming services have received significant investment from a number of social media platforms, including Facebook, YouTube, Snapchat, and Twitter. Live streaming speed up how quickly videos stream over the internet. More than 80% of all internet traffic was derived from video streaming by 2021. Live streaming adds specific elements to digital communication, so brands use it to deliver online education, product launches, news & politics, humor, and regular programs. Brands employ micropayments, mid-roll video advertising, and social platform payments to monetize live video streaming. Thus, increase in popularity of live streaming notably contributes toward the market growth.
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the online video platform market analysis from 2022 to 2032 to identify the prevailing online video platform market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the online video platform market forecast assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global online video platform market trends, key players, market segments, application areas, and market growth strategies.
Online Video Platform Market Report Highlights
| Aspects | Details |
 Market Size By 2032 | USD 43.2 billion |
 Growth Rate | CAGR of 19.5% |
 Forecast period | 2022 - 2032 |
 Report Pages | 421 |
 By Type |
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 By Application |
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 By End User |
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 By Region |
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 Key Market Players | Endavo Media., JW Player, Brightcove Inc., Kaltura, Inc., Akamai Technologies, Mediamelon, Inc., Comcast, Wistia, Adobe Inc., Panopto |
Analyst Review
According to the insights of CXOs of leading companies, the rising popularity of watching live video content and the steadily increasing use of mobile videos are driving the growth of the global online video platform market. Large and small vendors have been providing free as well as paid online video platforms with a variety of functions, which has caused this market to grow quickly.
The CXOs further added that there are currently approximately 100 providers of online video platforms, and every quarter a large number of new players enter the market. Online video platform offerings have improved as a result of the rivalry among these companies. In addition, the rapid uptake of online video platforms is a result of the development of internet connectivity. The legacy firms' emphasis on live streaming and mobile video technology is expected to have a significant impact on the market during the projected period, creating several prospects for expansion.
Even while laws and business models are still emerging in a sector that is still developing in the majority of regions, improvements in telecom and payment infrastructure are expected to continue to signal the way forward for the online video sector in Asia-Pacific. This aspect creates profitable business expansion potential. Online video platforms are further becoming a key element as media and entertainment companies are urged to economically provide video to rapidly expanding, consumer devices with video capabilities. This is attributed to the explosion of content and the bring your own device (BYOD) trend.
Rise in number of streaming services and increase in popularity of live streams are the upcoming trends of online video platform market
Increase in penetration of smart phones is the leading application of Online Video Platform Market
North America is the largest regional market for Online Video Platform
The global online video platform market was valued at $7,472.92 million in 2022 and is projected to reach $43,213.88 million by 2031, registering a CAGR of 19.5% from 2023 to 2032.
The market players operating in the online video platform market are Akamai Technologies, Brightcove Inc., Endavo Media., Adobe Inc., Kaltura, Inc., Mediamelon, Inc., Panopto, Comcast, Wistia, and JW Player. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the online video platform market globally.
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