Increasing adoption of live video online streaming is recognized as one of the major factors for the progression of the global online video platform market across the globe. Online live videos are gradually becoming an important part of the strategic business models for various brands and marketers to capture customer preferences.
In addition, live video streaming has become the vital step for brand owners for business-to-consumer and business-to-business communication Online video platforms are end-to-end platforms used for the measuring, downloading, publishing, and distribution of online video content for live streaming and on-demand.
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Online video platforms enable organizations to share their video content with outside stakeholders which includes partners, investors, and customers. Acquisitions of smaller companies is a notable growth strategy adopted by online video platform companies. Thus, the online video platform market is expected to witness steady progress during the forecast years 2017 to 2025.
The video streaming market has increased significant traction in business premises with a shift in development toward enterprise mobility with various applications such as Facebook, YouTube, Twitter, and Instagram, being leveraged on the strength of portable communication devices The global online video platform market has been segregated on the basis of type, end user, and geography. On the basis type, the market has been fragmented into UGC model, DIY model, and SaaS model.
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Increasing usage of mobiles and tablets owing to the increasing trend of digitalization is the major factor anticipated to increase the demand for online video platforms at an exponential rate during the forecast period. The SaaS model segment is expected to expand at a high CAGR during the forecast period from 2017- 2025. Based on end user, this product market has been segmented into individuals, content creators, and brands and enterprises.
Growing number of enterprises and brands are making use of online video platforms to create awareness among the maximum number of spectators to generate revenue and market their products. Thus, online video platforms are gradually being utilized by end use industries such as healthcare and education to cater to an extensive range of customers.
The use of Internet to transfer rich content, the enormous volume sales of smartphones and tablets, rising demand for high-value data, and online advertising among others is predicted to drive the acceptance of online video platforms across the globe. On the flip side, to survive in the global competition and gain and retain product market shares, various vendors have to separate their service and product offerings through a unique and clear value proposition.