Short Video Platforms Market Size, Share, Competitive Landscape and Trend Analysis Report, by Type, by Deployment, by Platform, by End Use : Global Opportunity Analysis and Industry Forecast, 2024-2032

Key market dynamics 

The global short video platforms market growth is witnessing significant rise due to several factors such the increased global internet penetration, increased production of videos and online content, and the proliferation of smartphones are some of the main factors anticipated to propel the growth of the market. However, the regulatory and legal issues act as restraints for the short video platforms market. In addition, the increasing penetration of wireless networks and easy internet access in developing countries will provide ample opportunities for the market's development during the forecast period. 

Many users have easy access to high-quality short video content because of the widespread adoption of 4G and 5G networks, which is expected to significantly increase video content consumption on short video platforms. According to Ericsson’s Mobility Report, published in June 2021 stated that 22% of users of smartphones in India already own 5G-ready handsets. Moreover, the company also predicted that 5G adoption would be much faster than that of the 4G/LTE spectrum. 5G provides substantially faster data speeds compared to 4G, enabling quicker uploads and downloads of high-quality video content. Such factors are expected to propel the growth of the global market. 

Short Video platforms Adoption of Global short video platforms Market 

As more people gain access to smartphones and the internet, the potential audience for mobile apps grows. This expansion provides a larger user base that can be monetized through short video platforms. In addition, smartphones make it easy for users to access apps anytime and anywhere. The convenience of making purchases directly within an app encourages more frequent transactions compared to traditional methods. According to Ericsson, the number of smartphones in the world in 2024 is 7.21 billion. This figure is a considerable 28.98% increase from five years ago when it was estimated that there were 5.59 billion smartphones globally. 60.42% of the world’s population owns a smartphone.  

FIGURE 1: NUMBER OF SMARTPHONE USERS (Billions)  

Market Segmentation 

The short video platforms market size is segmented into type, deployment, platform, end use, and region. On the basis of type, the market is divided into live video and video posts. As per deployment, the market is segregated into application-based and website-based. On the basis of platform, the market is bifurcated into android, iOS and windows. On the basis of end use, the market is categorized into education, media & entertainment, live commerce and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. 

Regional/Country Market Outlook 

The global short video platforms market share is experiencing substantial growth, with the U.S. playing a pivotal role in this expansion. In the U.S., high smartphone penetration, widespread internet access, and a technical population have created numerous opportunities for the short video platforms market. Moreover, Japan's high smartphone penetration rate, coupled with a robust digital infrastructure and a culture of mobile gaming, fuels the expansion of short video platforms. Japanese consumers, known for their willingness to spend on digital entertainment, particularly in mobile games, drive substantial revenue through short video platforms. 

• In December 2023, Japanese Finance Ministry, has officially announced its intention to extend Value Added Tax (VAT) collections to app stores starting January 2025. Notably, major platforms such as Google and Apple will be tasked with collecting a 10% Consumption Tax from third-party providers selling to Japanese consumers through their platforms. 

• In September 2023, China’s technology giants began enforcing new rules governing app publishers. Mobile app stores operated by companies like Tencent and Xiaomi have begun blocking app publishers from debuting new apps if they have not made proper disclosures to the authorities. 

Industry Trends 

• In June 2024, the U.S. Republican presidential candidate joined TikTok, the short video social media platform that is owned by China-based tech giant ByteDance. The decision to join the platform helps the former president reach younger voters in the third bid for the White House.   

• In June 2023, the Government of Canada raised $49 million in Ross Video Limited. This project will develop more flexible and cost-effective solutions that will improve the ability to create high-quality live media that can be used in news, sports, concerts, cultural events, conferences, and government or corporate events.  

Competitive Landscape 

The major players operating in the short video platforms market include Beijing Wei Ran Internet Technology; ByteDance Ltd. (Toutiao) ; Doupai; Facebook (Instagram) ; Kuaishou Technology; Meipai; Snap Inc. (Snapchat) ; Snow Corp. (B612) ; Tencent Holdings Ltd. (Weishi) ; Vimeo, Inc.; Yixia Technology (Miaopai) . 

Recent Key Strategies and Developments 

• In June 2023, Myntra Datalabs launched a short video platform ‘Myntra Minis’ to enhance user engagement and further improve the shopping experience for its customers.  

• In November 2022, Jio Platforms partnered with Creative Android Asia, a creative services company, and Rolling Stone’s Indian edition launched a new app called Platform. Platform app aims to target celebrity entertainers with an ecosystem designed for organic growth and consistent monetization and empowers creators to advance through ranks and reputation. 

• In May 2021, Anoroc Technologies launched an entertainment app, Bamchik, a short video creation platform for audience of all age groups.  

Key Sources Referred 

1. Tizen Developers 

2. Apple Developer 

3. GeeksforGeeks 

4. ResearchGate 

5. Francis Academic Press 

Key Benefits for Stakeholders 

• This report provides a quantitative analysis of the short video platforms market forecast segments, current trends, estimations, and dynamics of the short video platforms market analysis from 2023 to 2032 to identify the prevailing short video platforms market opportunities. 

• The market research is offered along with information related to key drivers, restraints, and opportunities. 

• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network. 

• In-depth analysis of the short video platforms market outlook segmentation assists to determine the prevailing market opportunities. 

• Major countries in each region are mapped according to their revenue contribution to the global short video platforms Market Statistics. 

• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players. 

• The report includes the analysis of the regional as well as global short video platforms market trends, key players, market segments, application areas, and market growth strategies.