ONLINE VIDEO PLATFORMS MARKET regional analysis

Regional Analysis

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Dominating Region: North America

North America is a leading market and is expected to account for 49.1% market share in 2024. This growth can be attributed to robust technology infrastructure and widespread adoption of online streaming among consumers. Established players in this region such as Brightcove and Kaltura have significantly contributed to the growth through innovative product offerings and strategic partnerships with media companies and brands.

Fastest-Growing Region: Asia Pacific

The Asia Pacific is poised to exhibit the fastest growth and account for 29.2% market share due to rising internet and smartphone penetration coupled with increasing consumption of digital content. Countries like China and India have emerged as key markets owing to rising disposable incomes, growing digital population and thriving media and entertainment industry. Notable regional companies including Beijing Mobile and Tencent Video are tapping into this growth through localized platforms and content.

Online Video Platforms Market Outlook for Key Countries

High Demand from Media Organizations

The US online video platform market continues to be a frontrunner driven by strong demand from media organizations, brands and individual content creators. The surge in demand for streamed video content has created increased competition among platforms to secure exclusive or original content to attract and retain subscribers. Major platforms are investing heavily in producing their own movies, scripted shows, documentaries and other premium content to differentiate their services. For example, Netflix spent over USD 17 billion on content in 2021 according to its financial disclosures.

Significant Investments By Major Players

China's market is amongst the largest globally, propelled by government support for digital infrastructure development and popularity of short-form video formats. Players such as ByteDance are leading innovation through formats like TikTok. Major players like iQiyi and Youku have been investing heavily in developing popular web dramas, variety shows, and short-form videos optimized for smaller screens that keep users engaged. The influence of short video apps like Douyin have also inspired longer format platforms to incorporate short video features. For example, Bilibili launched a short video section in 2021 to capture the massive numbers of users on Douyin.

Demand for High-quality Online Videos

Japan continues to lead in Asia supported by high-quality online experiences and dedicated platforms launched by major telcos and internet companies for domestic and international content distribution. The online video platform market in Japan has seen significant changes in recent years as viewing habits among consumers have evolved. Younger generations who grew up with the internet are less likely to watch traditional TV and prefer consuming content online and on-demand.

Affordability and Popularity of Content in Regional Language

India's market exhibits upbeat outlook on the back of affordable data costs and popularity of regional language content consumption on platforms like Hotstar and MX Player. The online video platform market in India has been rapidly evolving influenced by changing trends in content consumption and technology advancements. Viewers especially younger demographics are switching to online streaming of videos on demand on their mobile phones rather than traditional television. They prefer short form content like music videos, comedy/entertainment clips and devour content in short bursts on social media platforms.