The global Online Video Platform Market size is expected to
reach USD 22.85 billion by 2028, according to a new report by Grand View
Research, Inc. The market is anticipated to register a CAGR of 18.4% from 2021
to 2028. 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
driving the global 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 platforms 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. In addition, The
e-learning business has become one of the leading beneficiaries of the live
streaming video platform 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 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.
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view report summary: Online Video Platform Market Report
Online Video Platform Market
Report Highlights
- The media and entertainment end-user 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 substantial to
record the highest CAGR of nearly 19% during the forecast period
- The key players in the market 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.
About Us:
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, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
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