The global online video platform market size was valued at USD 8.09 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 20.7% from 2023 to 2030. An online video platform is a fee-based software that allows content owners and publishers to transcode, manage, store, publish, track, and monetize online video content on their channel. In addition, the platform also facilitates users to stream live videos simultaneously, record the live broadcasting, and host videos as per the demand. The online video platform is gaining significant traction from handheld devices such as smartphones and tablets, as the gadgets are compatible with playing live or pre-uploaded video content anywhere and at any time.

The market has recorded significant growth over the past few years due to the rising popularity of online videos, with viewership steadily surpassing traditional video content platforms such as cable and satellite television. The trend positively impacts the online video platforms market, majorly in developed regions, including North America and Europe. For instance, in 2023, Comcast, a U.S.-based broadcasting and cable company, lost 614 thousand customers in the first quarter. It was largely attributed to the competition created by Over the Top (OTT) and Video on Demand (VOD) players. On the contrary, Google's YouTube TV added 300 thousand subscribers in the first quarter of 2023.

Moreover, the increased penetration of advanced wireless telecom networks and easy internet access across developing regions is shifting mass users toward online video platforms. For instance, the high penetration of 4G networks across the globe is making seamless access to high-quality online video content possible for many users. The global introduction and adoption of the 5G network in the next few years are expected to significantly increase video content consumption on online platforms. The super-fast internet browsing speed promised by the network (nearly 13 times the average network connection) is expected to play a key role in the increased demand for video content on online platforms globally.

The growing practice of designing video-based marketing content to increase user brand awareness is attracting more enterprises toward online video platforms. For instance, in April 2020, Procter Gamble partnered with Charli D’Amelio to create the #DistanceDance challenge and asked people to encourage and practice social distancing. Within the first week of the campaign, the video got more than eight billion views, and 1.7 million people posted their version of the video.

Many brands use live video shopping events to attract customers via digital platforms. A recent instance of this is the live event hosted by Samsung Sweden in Sept 2020 to help its customers learn more about its latest foldable series of smartphones, the Galaxy Z Fold2. In 2019, a similar launch event yielded around USD 60 billion in revenue globally. The entire online video campaign was managed by Bambuser, a live-streaming video company headquartered in Stockholm. Other prominent players providing similar solutions include Alphabet Inc., Endavo Media.; Frame.io, Inc., JW player; Facebook; and MediaMelon Inc.

Detailed Segmentation:

Component Insights

Based on components, the solution segment accounted for the largest revenue share of 52.3% in 2022. It is attributed to the surging demand for subscription-based video content over the OTT platform and a continuous rise in demand for live-streaming video platforms.

Type Insights

The video processing segment accounted for the largest revenue share of 37.4% in 2022. Video processing platforms provide features such as efficient IP conversion, high-density transcoding, adaptive bitrate packaging, encryption, and streaming into a modular and visualized solution.

Streaming Type Insights

The video-on-demand segment accounted for the largest revenue share of 73.2% of the total market revenue in 2022. The growth can be attributed to the easy accessibility of videos over the cloud, which gives freedom to stream videos in real-time from any location. 

End-user Insights

The media entertainment segment accounted for the largest revenue share of 36.2% in 2022. The segment has recorded significant growth due to a surge in internet connectivity on mobile phones and increased investments across the globe in improving the OTT infrastructure.

Regional Insights

North America accounted for the largest revenue share of 36.4% in 2022 in the online video platform market. The promising growth of the region is likely to continue in the upcoming years with the introduction of advanced 5G network technology, making online video platforms quicker and more agile. 

Key Players of Online Video Platform Market

• Akamai Technologies
• Brightcove Inc.
• Comcast Cable Communications Management, LLC
• Endavo Media.
• io, Inc.
• Kaltura, Inc.
• Limelight Networks
• Longtail Ad Solutions, Inc. (JW PLAYER)
• MediaMelon Inc.
• Ooyala Inc. (Telstra)
• Panopto
• SpotX, Inc.
• Wistia Inc. Inc.

Recent Developments

• In April 2023, Brightcove Inc. partnered with Play Media, a media accessibility platform. The partnership allows customers to access and request accessibility services such as closed captioning, live captioning, audio description, and video localization directly from their existing video production workflow.
• In February 2023, Brightcove Inc., a streaming technology company, introduced Brightcove Communications Studio. The studio provides various features, including immersive streaming, secure viewing, live and on-demand content, an easy-to-use video management and publishing interface, with multilingual support, and interactive aspects.
• In October 2022, Adobe acquired Frame.io, a cloud-based video review and collaboration platform. The acquisition allowed Adobe to integrate Frame.io's features into its video editing software, such as Adobe Photoshop, Adobe Premiere Pro, and Adobe After Effects, which allows users to collaborate easily on video projects and accelerate the creative process.

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