According to a recent report published by Allied Market Research, titled, Online Video Platform Market in Media and Entertainment by Type, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2018-2025, the global online video platform marketin media and entertainment was valued at $218 million in 2016, and is projected to reach at $915 million by 2025, growing at a CAGR of 17.50% from 2018 to 2025.
Increase in use of the online video platform market in media and entertainment for online video advertising, surge in internet connectivity on mobile phones, and investment in creation of online videos owing to its tremendous popularity are anticipated to drive the global online video platform in media and entertainment market growth. In addition, rise in scope for live streaming of video content is expected to create lucrative opportunities for the growth of the market. However, availability of free and open-source online video platform in the media and entertainment market is anticipated to hamper its growth during the forecast period.
Based on type, the video content management segment dominated the online video platform market in media and entertainment in 2016. However, the live streaming segment is expected to witness the highest growth rate of 22.30%, owing to increase in demand for informative and interactive videos.
The global online video platform market in media and entertainment was dominated by brands and enterprises in 2016 due to increase in investment in online video advertising by brands. However, the individual end user segment is expected to witness the highest growth rate during the forecast period owing to rise in popularity of user generated content (UGC).
Key Findings of the Online Video Platform Market in Media & entertainment:
- The individual segment is expected to exhibit significant increase in terms of growth during the forecast period.
- In 2016, video sharing segment of the online video platform in media and entertainment market accounted for the highest revenue and is expected to remain dominant in the application segment of online video platform in media and entertainment market.
- Asia-Pacific is projected to exhibit substantial growth during the forecast period.
Some of the key players operating in the online video platform marketin media and entertainment include, Ooyala Inc., MediaMelon Inc., Akamai technologies, Kaltura Inc., Panopto, Brightcove Inc., Frame.io, Inc., Limelight Networks Inc., YouTube, and Comcast Technology Solutions.