Overview of the global online video platforms market
Market research analysts at Technavio predict the global online video platform market to grow steadily at a CAGR of more than 16% by 2021. This market research analysis identifies the growth in online digital video streaming as one of the primary growth factors for the video hosting platform industry. The increase in the number of devices that can support digital content and the rise in the accessing speed of the Internet is providing consumers the choice of information, social media, and entertainment. Digital media players such as Hulu, Apple TV, Netflix, and Amazon are providing a stiff competition to the entertainment provided by traditional TVs. Consumers are spending more time on consuming digital media due to the growing Internet penetration and easy access to multimedia devices.
The rise in the adoption of live video streaming is identified as one of the key trends behind the online video platform market growth. Online videos are increasingly becoming a key part of the strategic business models for marketers and brands to capture consumers’ preferences. Live streaming videos has become the major step for brand owners for video initiatives and campaigns for B2C and B2B communication. Several brands are engaged in micropayments, mid-roll video ads, and social platform payments to monetize the live streaming of videos since it adds a unique element to digital communication.
Competitive landscape and key vendors
The online video platforms market has the presence of several key vendors and appears to be fragmented. Since these vendors offer similar products, the competitive environment of this marketspace is quite intense. Vendors are increasingly engaging in product improvisation and differentiation and are also concentrating on product pricing and portfolio to gain a competitive advantage over their peers. Factors including the change in consumer preferences, the growth in online video market across nations, and rapid technological changes, result in the entry of several new players and this in turn, further intensifies the level of competition among the market players.
The leading vendors in the market are -
- Brightcove
- Comcast Technology Solutions
- Kaltura
- Ooyala
- YouTube
The other prominent vendors in the market are Amobee, Anvato, BrightRoll, Envient, EBD, Ensemble Video, Limelight Networks, MediaCore, Pixability, SAMBA GROUP, SpotX, and VideoBloom.
Segmentation by type and analysis of the online video platforms market
- User-generated content (UGC) model
- DIY model
- Software as a service (SaaS) model
Digital content such as videos, blogs, and photos generated by users are distributed through digital networks called UGC sites such as YouTube, Vimeo, and Facebook. The UGC model dominates the market with the highest share and will be the major contributor to the video hosting platforms market due to the increased usage of the Internet and the growth of media services using online videos as a platform that provides the use of video content for advertising.
Segmentation by end-user and analysis of the online video platforms market
- Individuals
- Content creators
- Brands and enterprises
The rapidly increasing number of brands and enterprises making use of online video platforms (OVP) to create awareness and reach the maximum audience to market their products and generate revenue. OVPs are increasingly being used by the educational and healthcare industry to cater to the wide range of consumers.
Key questions answered in the report include
- What will the online video platform market size and the growth rate be in 2021?
- What are the key factors driving the global online video platforms market?
- What are the key market trends impacting the online video platform market value?
- What are the challenges to market growth?
- Who are the key vendors in the global online video platforms market?
- What are the market opportunities and threats faced by the vendors in the global online video platforms market?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA.
- What are the key outcomes of the five forces analysis of the global market?