The online video platform market, till date has been dominated by massive growth fuelled by the stupendous growth of the online video audiences, increased use of social campaigns within corporate communications and rapid adoption of the platform as an embedded player for organizations that want to upload and distribute their own content. The increase of user generated content in video formats has been the key driver for this market.
This report: Global Online Video Platform Market 2014-2018 report defines the online video platform market size based on the revenue which is generated by companies’ issue of new subscriptions, software maintenance and technical support. With the current trends the market is forecasted to grow at a CAGR of 13% to 2018.
Factors that propel the growth of the market
The increased demand in online videos have encouraged businesses, advertisers, media buying agencies and publishers to take an increased interest in this platform in the recent times. Since online videos help marketers to brand and compete, alongside targeting online audiences, they are being rapidly adopted by businesses thereby fuelling the growth of online video platform market.
Growth of auxiliary markets
This rapid adoption of the online video forums, to publish, distribute, download content allowed different organizations and media companies to convert an online video into any format and share it across platforms and devices such as iOS, Android-enabled smartphones and tablets, PCs, digital set-top boxes, and TVs both on demand and live. This increased number of video forums further saw the growth of online video analytics industry that kept a track on the number of views, drop off rates, geographical distribution and video viewing rates among other such data. This analytics from effective video management is extensively used to provide insights that could help enterprises market and manage themselves better since using these tools enable the enterprise to track the video marketing campaign performances easily and effectively.
Challenges in the online video platform market segment
The report also describes the challenges that are faced by online video platform market and which has an adverse effect on its growth. Its main issue lie in the integration process wherein the publishers are concerned about integration of online video platform with desktop computers, cell phones and social media. Alongwith this, there is also increased demand for operational and customer support that is currently lacking in this segment.
As the marketing budgets of organizations improve, it is expected to propel the growth of this segment further. Moreover, since the marketing budgets look likely to be more heavily weighted towards social video initiatives, costs of these platforms and analytics are also expected to go down. Video platforms will continue to look compelling especially as enterprises improve on the accessibility of videos, driving the growth of the market. A boon to enterprises across consumer segments, with an effective video management platform, these companies too stand to benefit in the long run.
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