A $1.2 Billion Global Opportunity for Online Video Platform in Media and Entertainment by 2026 - New Research from StrategyR

SAN FRANCISCO, Feb. 2, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Online Video Platform in Media and Entertainment - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition: 8; Released: January 2022
Executive Pool: 1382
Companies: 103 - Players covered include Akamai Technologies, Inc.; Alphabet, Inc.; Brightcove, Inc.; Comcast Corporation; Frame.io, Inc.; Kaltura, Inc.; Limelight Networks, Inc.; MEDIAMELON, INC.; Ooyala, Inc.; Panopto and Others.
Coverage: All major geographies and key segments
Segments: Application (Video Sharing, Commercial Video Platforms, Other Applications); End-Use (Brands & Enterprises, Content Creators, Individuals)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

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ABSTRACT-

Global Online Video Platform in Media and Entertainment Market to Reach US$1.2 Billion by the Year 2026

The OVPs or online video platforms offered by video hosting services allow users to convert, upload, playback, and store videos on the Web through a large-scale and structured system that generates revenue. Video hosting services are getting prevalent, particularly with the expansion of blogs' popularity, interactive pages, and internet forums. Emergence and evolution of Internet video companies such as YouTube and Netflix has a major bearing on the ongoing progression in the online video market. In fact, YouTube, which represents the most widely used online video site across the world, stood as one of the keystones for online video market growth over the years. Offering user-generated as well as professional/licensed content in short-form and long-form versions in various genres and categories, YouTube infused agility into the online video domain, making video viewing highly convenient and easier for viewers across the board. OVPs are cost-effective, which enables the users to tag, message, and share videos on websites of third parties with increased visibility and lets the companies store the videos in a single place and simultaneously share the videos all through the internet. OVPs allows the users to share the content through social media and other sites as per the requirement and reach the audiences. OVPs are easy and quick to use, easily integrated into the software solutions that are already existing, and compatible with the majority of third-party sites. Live streaming is enjoying immense attention and is bound to stay here over the coming years. The trend is driving various companies to join the wave and offer dedicated solutions including live streaming tools and online video platforms to assist users in live broadcasting the video content to viewers. Major factors driving interest in live events include digitalizing and hectic lifestyles, rapid proliferation digital technologies like smartphones, mobile internet, and the ensuing rise of the on-demand economy. Furthermore, boom in online education & e-Learning, rise of on-demand subscription-based video content, rise of video advertising, growing popularity of video podcasts, and growing focus on video monetization are some of the factors driving growth in the market.

Amid the COVID-19 crisis, the global market for Online Video Platform in Media and Entertainment estimated at US$409.7 Million in the year 2020, is projected to reach a revised size of US$1.2 Billion by 2026, growing at a CAGR of 18.1% over the analysis period. Video Sharing, one of the segments analyzed in the report, is projected to grow at a 17.9% CAGR to reach US$648.2 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Commercial Video Platforms segment is readjusted to a revised 19.3% CAGR for the next 7-year period. This segment currently accounts for a 33.6% share of the global Online Video Platform in Media and Entertainment market.

The U.S. Market is Estimated at $112.6 Million in 2021, While China is Forecast to Reach $308.8 Million by 2026

The Online Video Platform in Media and Entertainment market in the U.S. is estimated at US$112.6 Million in the year 2021. The country currently accounts for a 22.6% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$308.8 Million in the year 2026 trailing a CAGR of 22.1% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 11.9% and 15.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 14.3% CAGR while Rest of European market (as defined in the study) will reach US$32.1 Million by the end of the analysis period.

Commercial Video Platforms Segment to Reach $416.5 Million by 2026

In the global Commercial Video Platforms segment, USA, Canada, Japan, China and Europe will drive the 16.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$92 Million in the year 2020 will reach a projected size of US$299.5 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$95.8 Million by the year 2026, while Latin America will expand at a 20.1% CAGR through the analysis period. More

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