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The global online video platform market is being driven by the rising demand for secure and smooth online video streaming services. The rapid technological advancements and growing consumer inclination towards advances gadgets and applications are also supporting the industry growth. Such platforms are increasingly being adopted by media companies and enterprises around the world owing to their convenience, advanced features, and cost-effective nature. The enterprise segment is the leading application sector in the market. Region-wise, North America leads the industry and is likely to continue its dominance over the forecast period. On the other hand, the Asia Pacific is expected to be the fastest-growing regional market owing to increased penetration of the internet and smartphones in the region. Some of the major players in the industry include Akamai Technologies, Inc. (NASDAQ: AKAM) and Brightcove Inc (NASDAQ: BCOV).
The growing demand for quality live streaming services and secure video communications from various organisations, owing to their increased adoption for business meetings, is aiding the growth of the online video platform industry globally. In April 2021, Brightcove, the leading cloud services provider for video, introduced Brightcove ContinuumTM, a new business continuity suite that will support business communication functions with live and on-demand solutions across the enterprise. This robust technology suite offers secure internal communications and quality live streaming, enabling organisations to stay connected with employees and customers. Moreover, the growing mergers and acquisitions by the industry's leading players is expected to enhance the market growth further. In February 2021, Akamai announced that it had closed an asset purchase transaction with Palo Alto, California-based Instart, in a bid to acquire customer contracts and intellectual property (IP). The new customers will be rapidly migrated to the Akamai Intelligent Edge platform as the company intends to migrate the acquired high-value customers to its platform with minimal cost for company and disruption to consumers. Such developments are expected to aid the growth of the online video platform market globally over the forecast period.
Market Breakup by Model Type, Product Type, Application, and Regions:
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The major players in the global online video platform market are Dalet Digital Media Systems USA Inc., MediaMelon, Inc., Akamai Technologies, Kaltura Inc., Panopto, and Brightcove Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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