Online Video Platform (OVP) Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Russia, Spain, China, India, Japan, Australia, Brazil, Mexico, GCC, South Africa), Growth Potential, Competitive Market Share & Forecast, 2017 – 2024
Report ID: GMI2429
Online Video Platform (OVP) Market size is driven by the rapid growth of online video streaming and increasing consumer demand for content delivery anytime, anywhere, and on multiple devices. The increasing use of mobile phones, BYODs, tablets, PCs, and connected TVs delivering economical video services has augmented the demand for the OVP market. The upsurge in the number of devices that can support digital content and the rise in the internet speed are providing consumers many choices with respect to information and entertainment, fostering the market growth.
Online video platforms provide features, such as video publishing, content management, monetization of online content, and integration with advertisements, which will further progress the market growth. It is a Software-as-a-Service(SaaS) model, which allows content owners to publish, manage, share, protect, store, modify, stream, and monetize online videos.
An increase in the number of users subscribing to the internet and social media attracts the businesses to launch their brand advertisements on such platforms thus capturing a huge audience. Online promotions have replaced traditional promotion campaigns as they save time and money and cover a larger audience. It also gives the marketers an opportunity to modify the advertisements as and when required depending on their target audience. The rise in the demand for live video streaming is a major trend and opportunity for OVP solution providers.
Free video hosting platforms hinder the market growth. Major players, such as YouTube and Vimeos, which offer free viewership are diverting the smaller content providers away from investments in OVP solutions. Moreover, video managed services are a growing market where the company’s entire digital content is outsourced to an external company, which is a major challenge for online video platform market growth.
OVP is categorized into three main segments based on their types, which include UCG model, DIY model, and SaaS model. UCG model is a consumer-generated media model, which allows the consumer to distribute content such as photos, videos, and blogs through a digital network. DIY model is a cost-saving model, which allows the user to share the links of the video onto their websites, which is not very effective in gaining a huge customer viewership. SaaS model is a fee-based model, which is widely used as it allows users to host and distribute videos, eliminating the need for installation and maintenance.
The North America region has shown a huge potential for growth owing to their established economy, high internet rate, and huge sale of smart devices followed by Europe. APAC is expected to be the fastest growing region during the forecast period owing to an increase in the adoption of electronic media in this region. There is an increase in the adoption of smart devices such as smartphones, personal computers, laptops, tablets, and other electronic devices, which augment the market growth.
Owing to the presence of many players in the OVP market, this market is highly fragmented leading to a strong competitive environment. The major players include YouTube, Brightcove, Kaltura, Ooyala, Comcast Technology Solutions, Digitalsmiths, Doovle, Piksel, MediaCore, and Panopto. Players in the market mainly compete on factors such as price differentiation, services offered, and portfolio. To survive in the market, the companies must adopt various strategies such as mergers and acquisitions, partnerships, new technological developments, and expansions. For instance, in October 2016, DMS entered into a partnership with a global online video platform, Dailymotion, thus raising the bar for online video in MENA.
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