The Online Video Platforms Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies. The Report Analyses post COVID-19 (Corona Virus) impact on the product industry chain based on the upstream and downstream markets, on various regions and major countries and on the future development of the industry is pointed out.
The online video platforms market is expected to register a CAGR of 16% over the forecast period from 2021 – 2026. The last decade has seen immense changes in how customers view media, how companies create those media, and how marketers advertise on them. AT&T, for instance, lost 946,000 TV subscribers in Q2 2019. The maximum loss was in the “Premium TV” category, which includes its DirecTV satellite and U-verse wireline TV services. The company is attributing this to the increased competition created by OTT and VOD players. A rapidly growing young population, rising consumer demand, and improving advertising revenues, coupled with the increased usage of 3G, 4G, the advent of 5G and portable devices, is also driving the need for the online video platforms market.
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The 120 Pages report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Global Online Video Platforms Market: Vimeo, LLC, YouTube, LLC, Brightcove Inc., Dailymotion SA, Panopto Inc., Kaltura Inc., Vidyard (BuildScale Inc.), JW Player ( Longtail Ad Solutions, Inc.), Kollective Technology, Inc., Wistia Inc.
Some of the recent developments in the market are as follows:-
– May 2020 – YouTube’s video watch page on mobile has received a facelift. The new design comes days after Google announced that both Android and iOS apps would receive the updates soon. One of the latest updates that many users will notice is the positioning of the comment box. YouTube mobile users can now view and post comments by tapping on the comment box just underneath the channel bar with the subscribe button – unlike before, where users had to scroll down to the very end of the video page to post or view comments.
– March 2020 – Brightcove Inc. announced that due to the global COVID-19 pandemic and to protect its customers, employees, and the broader community, its PLAY 2020 event will not have a physical component in Boston this year. Instead, Brightcove will launch PLAY TV, an innovative, over-the-top streaming experience with the most, must-watch content focused on video. Starting in May, PLAY TV will be available to viewers globally, at no cost, on mobile devices and the web.
– Over the next few years, data traffic levels may grow, precisely due to the growing appetite for video content. For instance, according to Cisco, global mobile data traffic will increase seven-fold between 2017 and 2022, reaching 77.5 Exabytes per month by 2022; 5G will be 3.4% of connections but 11.8% of the total traffic; a 5G connection will generate 2.6 times more traffic than the average 4G connection, thus resulting in the growing access to people absorbing content. Mobile device ownership is already established in the developed countries but is gradually catching up in the emerging economies as well. Thus, businesses wanting to advertise on online video platforms are explicitly tailoring their ads to be more mobile-friendly.
– As mobiles continue to grow, advertisers can develop techniques to improve ad load speed, increase engagement, and decrease bounce rates without disturbing the video viewing experience. Many of them depend on 5G to transform mobile advertising, as the new 5G enabled devices are released over time. Video analytics is set to gain a significant market share shortly. Modern analytics tools offered by the vendors allow customers to gather detailed information on the audience and their viewing habits. For instance, YouTube Analytics (found in the “Studio” section) gives overall channel traffic over time, which is one of the ways to spot any peaks and seasonality a YouTuber may want to incorporate into his/her ongoing strategy.
– Vendors are engaged in new solution development to remain relevant in the market. For instance, in May 2020, Minute Media, a global technology and digital publishing platform, announced the launch of Voltax Video. Serving as a Publishing-as-a-Service (PaaS) solution for other digital publishers includes a suite of video technology tools designed to grow engagement, content, audience, and monetization, with a unique revenue-share model that removes the upfront cost and is designed to scale. In June 2019, Connatix, a next-generation video technology company for publishers, announced the launch of Elements, the first online video platform to unify editorial and revenue goals through an integrated technology stack. Elements operate primarily on a revenue-share model with no up-front cost commitment or hosting fees.
– Due to the spread of COVID-19, many people are practicing social distancing, which means that entertainment options are more limited. With the uncertainty ahead, everyone is looking to save money, so people may be reluctant to subscribe to streaming services, such as Netflix, Amazon Prime, Hulu, and Disney+. This offers an immense opportunity for OVP companies to expand further. COVID-19 has also encouraged students to turn to online video platforms for education. Due to global lockdown with schools and colleges shut indefinitely, online video learning platforms are witnessing a surge in viewership. In March 2020, YouTube reduced the quality of its videos in Europe, as an increase in home usage strains the continent’s internet during the novel coronavirus outbreak.
E-Learning is Expected to Hold Significant Share
– The advancements in information and communication technologies force educators and learners to move past the constraints of time, space, and environment. While a traditional classroom education is well-known, learning systems outside the classroom, especially those enhanced through technology, are still being discussed. Online video platforms represent the final stage in distance education, as these offer open educational resources to the students all around the world. These platforms are designed to be scalable to large online masses, with free participation, and without formal requirements to provide millions of individuals around the world the opportunity to learn through hundreds of public and private universities or organizations worldwide.
– Asia-Pacific is considered to be the most dominating market when it comes to the adoption of e-learning through online video platforms. Owing to a large working and studying population, China is using digital learning technology to enhance education equity, quality, and efficiency. Recent government studies show that although there is a large amount of academics, at the same time, there is considerable shortness of qualified personnel in the country. To comply with this, the country has started a Smart Education China initiative, which aims to increase the qualification of graduates in China in the medium term to meet the growing demand for qualified personnel.
– In India, most people residing in remote areas do not have adequate access to skill enhancement and quality learning. Online video platforms can play a pivotal role in such cases. It can be beneficial for those who are bound by financial instability and physical limitations. Moreover, there are more applicants than slots at top Indian universities. Millions of Indians live in poverty and are unable to afford or gain access to higher education. Owing to the volatile job market in India, online video is a cost-efficient way to reskill and upskill. Also, cheaper and better bandwidth is enabling learners to do online courses more easily
– The World Bank is actively working with ministries of education in many countries in support of their efforts to utilize educational technologies of all sorts to provide remote learning opportunities for students. At the same time, schools are closed as a result of the COVID-19 pandemic and are in active dialogue with dozens more. The Ministry of Education (MoE) launched the Bhutan e-Learning program?. This started on March 27, 2020, allows students from PreK-12 to access lessons through educational television as well as on YouTube. The states of Amazonas and Par in Brazil have launched a strategy relying heavily on educational video use. Their content is also available on their YouTube channel and is complemented with their online platform.
North America is Expected to Hold Significant Share
– North America is one of the most significant regions for the online video platforms market. The region, especially the United States, is one of the major innovators and investors of the technology. Apart from that, high adoption among end-user industries is further fuelling the adoption of online video platforms in North America. According to Verto Analytics, YouTube has been the most popular mobile music and video apps in the United States as of September 2019 with a monthly user base of 163.76 million, followed by IMDb and Netflix with the monthly user base of 51.01 and 46.55 million respectively.
– According to AudieneceProject, U.S. internet users who use YouTube as of 3rd quarter 2019, by age statistic shows that 81% for users are aged between 15-25 years, 71% for users are aged between 26-35 years, 67% for users are aged between 36-45 years, 66% for users are aged between 46-55 years and 58% for users are aged above 56 years. The availability of online learning platforms is expanding rapidly. According to the University of Southern California, the institution currently generates around USD 114 million per year from running an online course on YouTube. The institution also predicts that online courses will serve more learners in the next 5-10 years than the combined provision of physical classes offered by the world’s universities.
– Canada is one of the leading countries in initiating programs that provide innovative and universal education through online learning and distance education. The Canadian Virtual University is a unique initiative that includes a network of 11 colleges and universities specializing in the distance and online learning. eCampusOntario is one such nonprofit that has been established to strengthen the post-secondary education system by improving eLearning access. It currently collaborates with more than 45 colleges and institutes to provide the right platform for digitizing their training modules.
The online video platforms market is quite competitive and consists of significant individual players. In terms of market share, few of the major players currently dominate the market. Some of the major players include Vimeo, YouTube, Brightcove, Dailymotion, Panopto, Kaltura, Vidyard, JW player, Kollective, and Wistia, among others. The market concentration will be high since the market is competitive since these significant players with prominent market shares are focusing on expanding their customer base across foreign countries.
Influence Of The Online Video Platforms Market Report:
-Comprehensive assessment of all opportunities and risk in the Online Video Platforms market.
– Online Video Platforms market recent innovations and major events.
-A detailed study of business strategies for growth of the Online Video Platforms market-leading players.
-Conclusive study about the growth plot of Online Video Platforms market for forthcoming years.
-In-depth understanding of Online Video Platforms market-particular drivers, constraints and major micro markets.
-Favourable impression inside vital technological and market latest trends striking the Online Video Platforms market.
What Are The Market Factors That Are Explained In The Report?
Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on regional scale.
Analytical Tools: The Online Video Platforms Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
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