Online Video Platforms Market Size, Share & Trends Analysis Report By Type (Live Streaming, Video Content Management Systems, Video Analytics), By End-User (E-learning, Media and Entertainment, BFSI, Retail, IT and Communications, Others) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2022-2030

Market Overview

The global online video platforms market size was valued at USD 782.7 million in 2021. It is projected to reach USD 2.24 billion by 2030, growing at a CAGR of 12.4% during the forecast period (2022-2030).

Online video platforms are fee-based software that allows publishers and content owners to manage, publish, and track the online video content on their channels. The growing adoption of smartphones, tablets, and other devices will create a conducive environment for the market. The online video platforms also allow users to host, stream live, and broadcast their videos. Online video platforms provide a way for users to share and view videos without having to leave the comfort of their own homes. Additionally, these platforms offer a way for content creators to reach a larger audience more quickly. In addition, these platforms provide a way for brands to create engaging videos that promote their products and services.

Market Dynamics

Global online video platforms market drivers

Increasing trends of online advertisements

Media services providers have witnessed a significant spike in their subscribers and a peak in viewership across multiple regions owing to the increased demand for online streaming content and changing consumer preferences. This is anticipated to provide the market players with various options to promote to specific customer groups. Additionally, it is projected that growing digital spending by businesses worldwide and technical improvements would fuel online advertising. The possibilities for video-based marketing and advertising have increased with the emergence of these new platforms and formats. While expenditure on traditional television advertising is decreasing, more money is expected to be spent on digital video.

Increasing popularity of online platforms

Video streaming over the internet has significantly increased globally and in nations like India. The edge cloud and video delivery service company Limelight Networks commissioned a report on the state of online video in 2020. According to the report, Indians watch online content weekly for an average of about 10 hours and 54 minutes, which is almost 3 hours more than the global average of 7 hours and 55 minutes. Around 12 million people joined a service they had never used before, and people are progressively using streaming services like Netflix, Amazon Prime Video, and Disney+ for 1 hour and 11 minutes a day.

Additionally, about 3 million visitors have never used these subscription services. The larger potential audience has been one of this format's key advantages. Companies are no longer limited to merely the seating capacity of the venue and can now have almost an infinite number of viewers. Therefore, as technology becomes more accessible and affordable and as internet bandwidth rapidly improves, live streaming is expected to continue to develop in the future, along with an increase in viewers.

Global online video platforms market restraint

High competition

The growing use of the internet has significantly altered the dynamics of society and industry. After two decades of the modern internet's explosive growth, many significant businesses and industries currently run on software and offer services online. The internet creates enormous economic benefits but has also caused widespread disruption across many industries. Open-source video platforms have increased competition in the market for internet video services. Instead of spending a lot of money to buy the same software and resources, individual users and numerous content creators have favored using easily accessible open-source online video platforms. The players have been vying for new users, which has boosted competition in the industry.

Global online video platforms market opportunities

Growing demand for e-learning

Information and communication technology development requires educators and students to transcend limitations related to place, time, and environment. Standard classroom education is well known, but development is still being done on learning methods outside the classroom, especially those enhanced by technology. The last phase of remote learning is represented by online video platforms, which provide free educational materials to students all over the world. These platforms are made scalable to large online populations, with free participation and without formal criteria, so millions of individuals worldwide can learn from hundreds of public and private colleges or organizations. The World Bank actively collaborates with education ministries in numerous nations to support their initiatives to use educational technologies of all kinds to offer students remote learning options.

Regional Analysis

The global online video platforms market is bifurcated into four regions, namely North America, Europe, Asia-Pacific, and LAMEA.

North america dominates the global market

North America is the most significant shareholder in the global online video platforms market and is expected to grow at a CAGR of 12.3% during the forecast period. An unexpected increase in demand for video platforms is seen in North America. The United States is recognized as one of these platforms' key investors and developers as the use of online video platforms among various end-users has increased over time. In addition, media other than Facebook and Twitch have become popular. With the rising use of remote learning, which gives students flexibility and convenience, the region is also seeing growth in e-learning. Canada is credited with being among the first to introduce universal education programs through online learning. In order to accomplish this, the country revealed an innovative program called The Canadian Virtual University, which featured a network of 11 colleges and universities specializing in the distance and online learning. eCampusOntario, a non-profit corporation created to provide access to eLearning and strengthen the post-secondary education system, is one of the online learning platforms in Canada. The demand for online video platforms is also growing in the United States due to numerous collaboration programs and initiatives that target low-income families to encourage e-learning.

Europe is expected to grow at a CAGR of 12.7%, generating USD 1,266.77 million during the forecast period. The online video platform is gaining traction in the entertainment sector as pandemic-related collaborations, partnerships, and OTT platform adoption expand in the European region. For instance, Edgeware and Norigin Media, two Nordic firms that offer video streaming services, announced a partnership to ensure the quality of Edgeware's streaming control solution, StreamPilot, in multi-CDN situations. Sports take up a sizable amount of the programming in the region's OTT platforms. Massive open online courses, which contained a ton of video content and were made possible by government programs, are now available to professors and students who want to take various courses and earn certificates. This has increased the demand for video management solutions. The new method includes live streaming of online shopping, often known as live shopping, which establishes a direct communication channel between brands and their target audience. As a result, live shopping and shoppertainment became more valuable in Europe, which led to a rise in the use of online video platforms.

In countries across the Asia-Pacific region, such as China, India, and Japan, there is a growing demand for live streaming e-commerce. Online video-sharing sites are also essential for OTT. Regarding OTT players, China exhibits a definite tendency toward the organic income structure. There is a definite trend away from ad-based models and toward subscription-based ones. iQiyi from Baidu, Tencent Video, and Youku Tudou from Alibaba control more than 60% of the Chinese online video market. According to iQiyi's analysis of Tencent's data, Tencent Video has 112 million paid subscribers as of June 2020, whereas iQiyi had only 100 million. The number of paid subscribers on Alibaba Youku is comparable to those on iQiyi and Tencent Video. In 2020, the Indian government launched free e-learning platforms with content available to students, learners, teachers, and professionals. Due to this, key players in the country's online video business currently have numerous chances.

The Middle East and Africa have seen a surge in the use of over-the-top (OTT) services due to audience preference change from linear to personalized viewing, the growth of the players' infrastructure and services, and the liberalization and privatization policies over the past 20 years. A growing number of local and international broadcasting networks, including Starz Play, icflix, and Tatiana, provide subscribers with VOD services in the region. On the other hand, a paradigm shift in fashion is taking place in Saudi Arabia, which is also experiencing one of the biggest retail booms in the world. By 2025, Google Insights predicts that Saudi Arabian e-commerce will reach USD 70 billion. Live streaming is now more essential for marketing and video analytics platforms to comprehend client preferences and patterns and improve customer engagement.

Segmental Analysis

The global online video platforms market is segmented by type and end-users.

Based on Type, the global online video platforms market is bifurcated into live streaming, video content management systems, and video analytics.

The video analytics segment is the highest contributor to the market and is expected to grow at a CAGR of 13.2% during the forecast period. Video-specific analytics monitors video metrics to provide a complete picture of video performance and assist in forming the video strategy. Analytics features in a video CMS can tell you how many people viewed a video, for how long, which parts of the video were the most popular, and when most people stopped watching. Artificial intelligence technology has entirely transformed video analytics, notably the advancements in deep learning and predictive analytics. The extraction and analysis of data continue to become more accurate and efficient thanks to ongoing algorithm research and development. It is anticipated that this invention would expand the market's potential for growth. To monitor interest and interaction, Video Cloud keeps track of various video statistics across platforms, locations, and countries. Businesses may watch movies in real-time and spot discrepancies using video analysis software. Companies may gain critical business insights from this, which will help them enhance engagement, drive conversions, and properly allocate their budget for video marketing.

Online media that is simultaneously recorded and streamed in real-time is referred to as live streaming. Live streaming platforms are video hosting services that let users upload and broadcast videos to their viewers, including footage from social media and video games. The popularity and efficacy of many social networks, like YouTube, Twitch, Instagram, Facebook, etc., have increased due to live broadcasting. Some video marketers have used online video content to reduce the need for support calls. Wyzowl claims that live videos have reduced support calls by 43 percent. In 2020, video content was already being employed in marketing plans when Facebook Live started playing a vital role in those efforts. This increase was nearly 32% more than the previous one.

Based on End-User, the global online video platforms market is bifurcated into e-learning, media and entertainment, BFSI, retail, IT and communications, and others.

The media and entertainment segment own the highest market share and is expected to grow at a CAGR of 12.3% during the forecast period. The popularity of internet videos, which have surpassed the conventional method of watching video content via TV and other channels, is driving up demand for the media and entertainment business. The global rollout of 5G networks is projected to accelerate the shift to digital consumption at an even faster rate. Another element expected to have the same impact is the growing reliance on cell phones. Teaser and trailer videos, as well as full-length content, are used by producers of movies and web series to generate significant cash. While short videos, like trailers, can be successful on sites like YouTube, Dailymotion, etc., the entire movie or television series must be uploaded through a video hosting service to reduce the danger of piracy, as it is the source of the majority of revenue.

Nevertheless, using video hosting services is still advised whether the video is a trailer or a full-length film. Companies in the media and entertainment industry are relying more on OVPs to manage, distribute, and monetize video content in a scalable way. The development of later OTT platforms is creating a much larger picture and expanding the market potential for OVP vendors. New streaming media services from well-known companies like Disney, Universal, and Warner Bros. started to appear about the same time as the epidemic, joining (and competing with) Netflix, Hulu, and Amazon.

Contractual understandings between telecoms and OTT suppliers have evolved. Various contracts, such as fixed fee, MG, and CPS agreements, are being entered between telecommunications service providers and over-the-top (OTT) platforms. Telecom and OTT agreements are built on the premise that while OTT platforms need data users, telcos need content. These partnerships are taking place in developing nations like India, expanding the use cases for OVPs. Together with OTT platforms, telcos can offer bundled plans to prepaid and postpaid clients. The OTT apps that the telcos have released so far are solely accessible to their customers. The OTT app Airtel XStream is now accessible to non-Airtel users for a monthly price as part of Airtel's revised business plan. Also, according to the agreement, BSNL will provide bundled OTT services as a triple-play offering to broadband and FTTH users. Its customers will access premium OTT apps like ZEE5, SonyLiv, Voot, and YuppTV through YuppTV Scope on their PCs, smartphones, and smart TVs. Such activities broaden the market for vendors even more.

Recent Developments

• January 2022- Brightcove Inc., the global leader in video for business, announced Harness Racing Victoria recently relaunched TrotsVision, a live and on-demand “always on” channel, using Brightcove technology.
• May 2022- Panopto, the leading video management system provider in higher education, announced a partnership with Michigan Colleges Online. The partnership offers member institutions preferred pricing for Panopto and a no-cost transition period.