According to the research report titled ‘Global Online Video Platform Market Size study, by Type (Video Analytics, Video Content Delivery Network, Video Content Management, Mobile Video Live Streaming, and Others.), By Application (Video Sharing, Commercial Video Platform, and Others), By End User (Individual, Content Creator, and Brand & Enterprises) and Regional Forecasts 2021-2027’, available with Market Study Report, global online video platform market size was worth USD 6.37 billion in 2020 and is expected to record a CAGR of 17.3% over 2021-2027, subsequently reaching USD 19.46 billion by the end of the assessment period.
 

As per the findings of the report, growing popularity of such videos over conventional methods of watching videos is primarily driving global online video platform market growth.
 

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For the unversed, an online video platform is a large structured system that allows users to store, post, convert, and playback video content on the internet while also generating income. Mobile phones and desktop computers can both be used to upload videos, both short and full.
 

Increasing expenditure on online video advertisements by leading organizations for promoting their products and rising scope for live streaming are significantly contributing to the market development. In fact, in 2019, the United States saw a 142% growth, while the United Kingdom observed a 79% increase in advertisement spending.
 

Considering factors restraining the industry expansion, availability of such free and open-source platforms is anticipated to act as a major challenge for businesses in this vertical. 
 

Elaborating on type, global online video platform industry is split into live streaming, mobile video, video content management, video hosting, video analytics, and others. Based on application spectrum, the industry segmentation comprises commercial video platforms, video sharing, and others. Moving on to end user scope, the market is bifurcated into brand & enterprises, content creator, and individuals.
 

Speaking of regional landscape, Latin America, North America, Asia Pacific, and Europe are the leading contributors to the overall market development. Of these, Asia Pacific industry is projected amass modest revenues through 2027, attributable to surging demand for such platforms.
 

Major contenders in worldwide online video platform marketplace are Comcast Technology Solutions, YouTube, Limelight Networks Inc., Frame.io Inc., Brightcove Inc., Panopto, Kaltura Inc., Akamai Technologies Inc., MediaMelon Inc., and Ooyala Inc.