The global online video platforms market size was USD 2.8 Billion in 2022 and is expected to register a revenue CAGR of 18.4% over the forecast period, according to the latest report by Reports and Data.
The growing demand for video content among customers is one of the major reasons propelling the online video platforms market’s revenue development. There is an increasing demand for high-quality video material as a result of the growth of online video streaming services like Netflix, Amazon Prime Video, and Hulu. Today’s consumers increasingly use online video platforms for pleasure, education, and information, and it is anticipated that this trend will continue during the projection period.
Furthermore, businesses are increasingly using online video platforms for marketing and promotion. Businesses are embracing online video platforms to communicate with their target audience and advertise their products and services as social media platforms expand in popularity. As a result, there is a greater need for video creation and editing tools and services, which is fueling revenue development in the online video platforms market.
Additionally, the growing adoption of high-speed internet and mobile devices is a crucial driver driving revenue growth in the online video platforms market. With the expanding availability of high-speed internet and the widespread use of mobile devices, consumers may now access online video content at any time and from any location, driving up demand for online video platforms. Additionally, the rising popularity of User-Generated Content (UGC) is predicted to fuel revenue development in the online video platforms industry. With the growing popularity of social media platforms and the increasing number of content producers, there is an increased need for online video platforms that allow users to create, distribute, and monetise their content. This is projected to fuel the online video platforms market’s revenue growth throughout the forecast period.
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Increasing penetration of high-speed internet and mobile devices: The availability of high-speed internet and the widespread adoption of mobile devices have revolutionized the way people consume video content. With faster internet connections and the convenience of mobile devices, users can now access online video platforms anytime and anywhere. This accessibility has significantly increased the demand for online video platforms, leading to revenue growth in the market.
Growing trend of User-Generated Content (UGC): User-generated content refers to videos and other media content created by individual users rather than traditional media companies. The rise of social media platforms and the increasing number of content creators have fueled the demand for online video platforms that enable users to create, share, and monetize their content. This trend has opened up new opportunities for online video platforms and contributed to their revenue growth. Some Key Highlights from the Report
- The on-demand segment is likely to account for the majority of revenue throughout the projected period. The flexibility it provides users in terms of content consumption contributes to the popularity of on-demand streaming. Users may view material whenever and wherever they choose as long as they have access to an internet connection. As a result of this convenience, the market has experienced a significant expansion in the number of on-demand streaming services. Likewise, during the COVID-19 epidemic, people spent more time at home and turned to on-demand video channels for entertainment. These reasons are propelling the segment’s revenue growth.
- The media and entertainment segment is predicted to have the highest revenue share throughout the projected period. The media and entertainment industry is expanding rapidly as more individuals utilize online video platforms to share content. Content creators may now access a worldwide audience through internet video channels, which were previously exclusively available through traditional distribution techniques such as cable and broadcast television. The introduction of online streaming services such as Netflix, Amazon Prime, and Disney+ has also led to a rise in demand for original content in this market.
- The biggest revenue share is anticipated to come from the Asia Pacific market throughout the forecasted period. The growing use of smartphones and high-speed internet in countries like China and India is driving up demand for online video content. The rise in smartphone affordability and the development of the middle class are further factors driving this region’s online video platforms market revenue growth.
some leading companies operating in the global Keyword market:
Brightcove Inc., IBM Corporation, Kaltura Inc., Ooyala Inc., Panopto Inc., Vidyard Inc., Vimeo LLC, Wistia Inc., YouTube LLC, and Ziggeo Inc.
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The global market is further segmented into type and application:
Product Type Outlook (Revenue, USD Billion; 2022 – 2032)
- Live Streaming
- On-Demand Streaming
- Video Analytics
End-Use Outlook (Revenue, USD Billion; 2022 – 2032)
- Media & Entertainment
- Education & Learning
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Overall, the combination of widespread access to high-speed internet, the proliferation of mobile devices, and the popularity of user-generated content has created a favorable environment for the online video platforms market. These factors are expected to continue driving revenue growth in the foreseeable future, as the demand for online video content and user engagement remains high.
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