Online Video Platform Market size shall reach a value of $349.7Million in 2020 to $1263.3million in 2027, growing with a CAGR of 17.5% during the forecast period of 2020 to 2027.
The market growth momentum will accelerate since Online Video Platform (OVP) is being used for processing and delivering online video content to the desired audience. Media& entertainment companies are increasingly using OPVs to manage, publish and monetize video content in a scalable manner. The global online video platform in media & entertainment is experiencing growth due to the popularity of online videos which are surpassing the traditional way of viewing video content vis TV and other channels. Organizations have realised the potential of online videos in the media & entertainment sector, and thus, are investing heavily in online video creation, which is primarily propelling the growth of this market. Increased expenditure on online video advertisement adds as a driving force for the market. However, the availability of open source and free online video platform in the market is expected to hamper the growth of the market. Increased investments for streaming sports events live and scope for streaming video content are creating lucrative opportunities for the online video platform market. The video streaming market has seen significant growth in business premises with the increasing popularity of applications like Facebook, YouTube, Twitter and Instagram. To make most of the available opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. The international online video platform in media & entertainment market is segmented based on type, application, region and end-user. Based on type it is divided into video analytics, video content management, video content delivery network and mobile video live streaming.according to the application, it is classified into commercial video platform and video sharing platform. By end-users, it is categorized into individual, brands and content creators. Geographically, North America holds a dominant market share in terms of revenue. The Asia Pacific is the most attractive, lucrative and fastest-growing market for telecommunications and Information technology which directly affects the demands for OPVs and the also, the increase in usage of social media networks is one of the foremost factors that will have an encouraging impact on the market in coming years. Some of the leading companies are Akamai technologies Inc., Alphabet Inc., Amobee Inc., Comcast Corp., Limelight Networks Inc. etc.