The global online video platform market in media and entertainment is expected to witness an exponential growth in future owing to the growing use of online video platform in media and entertainment market for online video advertising, surge in internet connectivity on mobile phones, investment in creation of online videos, and high scope for live streaming of video content. However, the market is hampered by the availability of open source and free online video platforms in the market. Furthermore, rise in scope for live streaming of video content and rise in investments for streaming sports events live are expected to play an important role in the development of the industry.
The global online video platform market was pegged at $254 million in 2017 and is expected to reach $915 million by 2025, registering a CAGR of 17.50% from 2018 to 2025.
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The competition in the global online video platform in media and entertainment industry is high and is dominated by market players such as Ooyala Inc., MediaMelon Inc., Akamai technologies, Kaltura Inc., Panopto, Brightcove Inc., Frame.io, Inc., Limelight Networks Inc., YouTube, and Comcast Technology Solutions. These companies have adopted various strategies such as new product launches and partnerships to sustain their position in the industry.
Europe, Asia-Pacific, and LAMEA. North America became a lucrative segment in 2017, by garnering the highest revenue of $103.13 million. It is projected to maintain its dominance throughout the forecast period. However, the Asia-Pacific region is estimated to grow at the highest rate through 2025.
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The application areas discussed in the report include video sharing, commercial video platforms, and others. The video sharing segment generated the highest revenue in 2017, contributing more than half of the total market share. However, the commercial video platform could be fruitful in future, as it is likely to grow at the highest rate during the forecast period.
The report bifurcates the type segment into video analytics, video content delivery network, video content management, mobile video, live streaming, and others. The video content management segment accounted for the highest revenue in 2017 and would continue to dominate the global market in terms of revenue through 2025. However, the live streaming segment is expected to supersede the video content management segment in terms of growth rate through 2025 by growing at a CAGR of 22.30%.
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Top Impacting Factors Such as –
1. Increasing popularity of the online video amongst viewers
2. Increased expenditure on online video advertisement
3. Proliferation of mobile phones
Key Findings of the Online Video Platform Market in Media & entertainment:
o The individual segment is expected to exhibit significant increase in terms of growth during the forecast period.
o In 2016, video sharing segment of the online video platform in media and entertainment market accounted for the highest revenue and is expected to remain dominant in the application segment of online video platform in media and entertainment market.
o Asia-Pacific is projected to exhibit substantial growth during the forecast period.
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