The market revenue growth is largely fueled by rising consumer acceptance of online video streaming, rising company interest in video content marketing, and rising use of mobile devices and high-speed internet.
The global online video platforms market size was USD 2.8 Billion in 2022 and is expected to register a revenue CAGR of 18.4% over the forecast period, according to the latest report by Reports and Data.
The growing demand for video content among customers is one of the major reasons propelling the online video platforms market's revenue development. There is an increasing demand for high-quality video material as a result of the growth of online video streaming services like Netflix, Amazon Prime Video, and Hulu. Today's consumers increasingly use online video platforms for pleasure, education, and information, and it is anticipated that this trend will continue during the projection period.
Furthermore, businesses are increasingly using online video platforms for marketing and promotion. Businesses are embracing online video platforms to communicate with their target audience and advertise their products and services as social media platforms expand in popularity. As a result, there is a greater need for video creation and editing tools and services, which is fueling revenue development in the online video platforms market.
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The global online video platforms market has been segmented into three categories based on product type: live streaming, on-demand streaming, and video analytics. Among these segments, the on-demand streaming segment is expected to have the largest revenue share during the forecast period.
The popularity of on-demand streaming can be attributed to its versatility, which allows users to consume content whenever and wherever they want as long as they have an internet connection. This convenience factor has led to a significant increase in the number of on-demand streaming platforms, thereby driving the revenue growth of this segment.
Competitive Landscape:
Furthermore, the COVID-19 pandemic has also contributed to the growth of on-demand streaming platforms as individuals spent more time at home and turned to online video channels for entertainment. This trend is expected to continue even after the pandemic subsides, leading to sustained growth in the on-demand streaming segment.
some leading companies operating in the global Keyword market:
Brightcove Inc., IBM Corporation, Kaltura Inc., Ooyala Inc., Panopto Inc., Vidyard Inc., Vimeo LLC, Wistia Inc., YouTube LLC, and Ziggeo Inc.
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The global market is further segmented into type and application:
Product Type Outlook (Revenue, USD Billion; 2022 - 2032)
- Live Streaming
- On-Demand Streaming
- Video Analytics
End-Use Outlook (Revenue, USD Billion; 2022 - 2032)
- Media Entertainment
- Education Learning
- Healthcare
- Others
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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