The global online video platforms market size is expected to reach USD 18.7 billion by 2027, according to a new report by Grand View Research, Inc. The market is anticipated to register a CAGR of 17.3% from 2020 to 2027. The increasing adoption of video content for advertisement and branding activities over traditional marketing campaigns across sectors/industries, such as e-commerce, healthcare, manufacturing, and real estate, is driving the market. For instance, sellers on e-commerce sites such as Amazon and Zappos.com use product videos on their portals to provide customers a 360-degree view of products and help them choose the best match. The increased expenditure on online video advertisements is acting as a major factor driving the growth of the market. For instance, in 2019, SAMSUNG Electronics spent around USD 2.41 billion majorly on an online video campaign to promote its Galaxy series smartphones in the U.S.
The
rising participation of the global population in online video streaming activities
has been recognized as a significant factor in driving the market growth. Live
video streaming is gradually becoming an essential advertisement model for
various brands. One of the biggest gainers of this business model is live
sports streaming channels. The rising number of sporting events globally and a
continuously increasing number of subscribers make online video platform (OVP)
a lucrative investment opportunity for the media and entertainment industry.
Furthermore, the advent of the 5G telecom network is enabling viewers to stream
HD video content seamlessly. The e-learning business has become one of the
leading beneficiaries of the live streaming video platforms due to the
increasing adoption of e-learning in corporate and academic setups coupled with
the increased number of mobile learning applications containing analytics that
helps track the progress of students.
The
outbreak of the novel coronavirus (COVID-19) has led to lockdowns across
several regions, resulting in a significant rise in the consumption of online
video content as people look at indoor entertainment options to pass their idle
time. The lockdowns have also resulted in several governments mandating schools
and colleges to conduct online classes. The pandemic has played a significant
role in increasing the overall share of the education segment in the market.
The rise in online classes has resulted in an overall rise in the revenue of
many e-learning platforms. Platforms such as KopyKitab, Unacademy, Vedantu, and
Byju's, have witnessed revenue growth in the range of 60% to 200% on a
week-on-week basis during the pandemic.
Full Research Report On Online Video Platforms Market Visit Here:
https://www.grandviewresearch.com/industry-analysis/online-video-platforms-market
Online Video
Platforms Market Report Highlights
- The media and
entertainment end-use sector is expected to exhibit significant growth
during the forecast period owing to an increase in the demand for live
video streaming and Video on Demand (VoD) content
- The Asia
Pacific regional market is projected to record the highest CAGR of nearly
19% during the forecast period
- The key
market players are Akamai Technologies Inc.; Brightcove Inc.; Comcast
Cable Communications Management, LLC.; Endavo Media.; Frame.io Inc.;
Kaltura, Inc.; Limelight Networks; Longtail Ad Solutions, Inc.; MediaMelon
Inc.; Ooyala (Telstra); Panopto; SpotX, Inc.; and Wistia Inc. Inc.
Request a Sample Copy of the Report @
https://www.grandviewresearch.com/industry-analysis/online-video-platforms-market/request/rs1
Online Video
Platforms Market Segmentation
Grand View Research has
segmented the global online video platform (OVP) market based on component,
type, streaming type, end-use, and region:
Online Video
Platforms Component Outlook (Revenue, USD Million, 2016 - 2027)
- Solution
- Services
Online Video
Platforms Type Outlook (Revenue, USD Million, 2016 - 2027)
- Video Processing
- Video Management
- Video Distribution
- Video Analytics
- Others
Online Video
Platforms Streaming Type Outlook (Revenue, USD Million, 2016 - 2027)
- Live Streaming
- Video on Demand
Online Video
Platforms End-use Outlook (Revenue, USD Million, 2016 - 2027)
- Media & Entertainment
- BFSI
- Retail
- Education
- IT and Telecom
- Others
Online Video
Platforms Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- Japan
- India
- South America
- Brazil
- Middle East and Africa (MEA)
List of Key
Players of Online Video Platforms Market
- Akamai Technologies
- Brightcove Inc.
- Comcast Cable Communications Management, LLC
- Endavo Media.
- Frame.io, Inc.
- Kaltura, Inc.
- Limelight Networks
- Longtail Ad Solutions, Inc. (JW Player)
- Ooyala (Telstra)
- MediaMelon Inc.
- Panopto
- SpotX, Inc.
- Wistia Inc.
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
No comments:
Post a Comment