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Online Video Platform Market size is set to grow by USD 2.19 billion from 2024-2028, Increase in streaming services to boost the market growth, Technavio

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NEW YORK, June 20, 2024 /PRNewswire/ — The global online video platform market size is estimated to grow by USD 2.19 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 21.57%  during the forecast period. Increase in streaming services is driving market growth, with a trend towards live streaming of videos. However, free open-source video platform poses a challenge. Key market players include Adobe Inc., Akamai Technologies Inc., Alphabet Inc., Bharti Airtel Ltd., Brightcove Inc., Comcast Corp., Dacast Inc., International Business Machines Corp., Kaltura Inc., MediaMelon Inc., MediaPlatform Inc., Panopto Inc., Piksel srl, Samba Mobile Multimidia SA, Telstra Corp. Ltd., Viacom18 Media Pvt. Ltd., Vimeo.com Inc., Viostream, Wistia Inc., and Youku Tudou Inc..

Get a detailed analysis on regions, market segments, customer landscape, and companies – Click for the snapshot of this report

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

End-user (Individuals, Brand and enterprises, and
Content creators), Type (UGC, DIY, and SaaS),
and Geography (APAC, North America, Europe,
South America, and Middle East and Africa)

Region Covered

APAC, North America, Europe, South America,
and Middle East and Africa

Key companies profiled

Adobe Inc., Akamai Technologies Inc., Alphabet
Inc., Bharti Airtel Ltd., Brightcove Inc., Comcast
Corp., Dacast Inc., International Business
Machines Corp., Kaltura Inc., MediaMelon Inc.,
MediaPlatform Inc., Panopto Inc., Piksel srl,
Samba Mobile Multimidia SA, Telstra Corp. Ltd.,
Viacom18 Media Pvt. Ltd., Vimeo.com Inc.,
Viostream, Wistia Inc., and Youku Tudou Inc.

Key Market Trends Fueling Growth

Online videos have become essential for businesses looking to engage consumers and influence buying decisions. Live streaming, a real-time Internet broadcast, is a popular trend among brand owners. Social media platforms like Facebook, YouTube, Snapchat, and Twitter have invested in enhancing live streaming capabilities. Brands use live streaming for tutorials, product launches, news, humor, and regular series. Monetization methods include micropayments, mid-roll ads, and social platform payments. These factors contribute to the growth of the Online Video Platform market.

The online video platform market is experiencing significant growth with an increasing number of users and businesses adopting video content. Large scales of live streaming and on-demand videos are driving this trend. Monetization strategies such as ads, subscriptions, and sponsorships are becoming more common. Uses include education, entertainment, marketing, and communication. Platforms offer various features like video analytics, customization, and integration with social media. User-generated content and interactive tools are also popular. The market is competitive with players like YouTube, Vimeo, and Facebook Live. Usage is expected to continue growing due to the convenience and engagement provided by online videos. 

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

Market Challenges

The Online Video Platform (OVP) market is experiencing significant growth due to the increasing popularity of video content on the Internet. Brands are leveraging free video hosting platforms like YouTube, Metacafe, and Blip.tv to enhance their online presence. These platforms offer millions of videos on various topics and provide access to commercial content. Paid OVPs face intense competition as customers can access free live TV shows, sports events, movies, and news online with high-definition streaming. Consequently, the global OVP market is expected to grow substantially during the forecast period, as free Internet services restrict the use of paid services.The online video platform market is experiencing significant growth, with an increasing number of businesses utilizing video content for marketing and communication purposes. However, this market also presents several challenges. One major challenge is creating high-quality video content that engages and retains viewer attention. Another challenge is optimizing videos for search engines and social media platforms to increase reach and visibility. Additionally, ensuring video accessibility on various devices and ensuring secure video hosting are ongoing concerns. Furthermore, monetizing video content through ads or subscriptions can be complex, requiring a deep understanding of audience demographics and viewer behavior. Lastly, keeping up with the latest video technology trends and maintaining a consistent brand image across all video content can be time-consuming and resource-intensive.

For more insights on driver and challenges – Download a Sample Report

Segment Overview 

This online video platform market report extensively covers market segmentation by

End-user 1.1 Individuals1.2 Brand and enterprises1.3 Content creatorsType 2.1 UGC2.2 DIY2.3 SaaSGeography 3.1 APAC3.2 North America3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Individuals- Online Video Platforms (OVPs) have become essential tools for individuals to share content without the need for organizational affiliation. User-generated videos (UGVs) account for 80-85% of global trust, surpassing that of traditional sources. UGVs serve various purposes, including entertainment, education, and opinions on goods and services. Trusted UGVs can boost product usage and OVP revenue. The individual Internet video market contributes significantly to OVP growth during the forecast period.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022) – Download a Sample Report

Research Analysis

In the rapidly evolving digital landscape, the Online Video Platform (OVP) market continues to gain momentum. With the proliferation of smartphones and handheld devices, live streaming has become a preferred mode of video content consumption. Monetization of channels through streaming services is a significant trend, enabling content creators to reach a global audience. Telecom networks, including 4G and the emerging 5G network, facilitate seamless internet access for live streams. Transcoding and managing video content is crucial for publishers to ensure smooth delivery to viewers. Television is no longer confined to traditional broadcasting, as online video advertising becomes an integral part of video-based marketing content. Tracking viewer engagement and analytics is essential for optimizing revenue streams in this dynamic market.

Market Research Overview

The Online Video Platform market is a dynamic and growing industry, characterized by its ability to deliver high-quality video content to consumers on-demand. This market encompasses various technologies and services, including streaming, video hosting, and video analytics. The market caters to various sectors such as education, entertainment, advertising, and corporate training. The platforms offer features like adaptive bitrate streaming, personalized recommendations, and social media integration. The market is driven by factors such as increasing internet penetration, rising consumer demand for on-demand content, and advancements in video compression technology. The future of the Online Video Platform market looks promising, with continued innovation and expansion into new areas like virtual and augmented reality.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

End-userIndividualsBrand And EnterprisesContent CreatorsTypeUGCDIYSaaSGeographyAPACNorth AmericaEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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PolyAI partners with OpenTable to offer enterprise restaurants and diners reservation support using voice AI

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LONDON and NEW YORK, Sept. 23, 2024 /PRNewswire/ — PolyAI, a pioneer in voice AI solutions for customer experience and service, today announced a partnership with OpenTable, a global leader in restaurant technology, expanding PolyAI’s guest-led voice assistants to enterprise restaurants. Locations that opt in will be able to take reservations over the phone, answer questions, gain visibility in customer trends, and deliver on-brand experiences – all while alleviating staff time and resources.

This alliance delivers PolyAI’s lifelike voice AI to help restaurants tackle challenges around staffing and provide consistent hospitality, even off premise. In a survey conducted by the National Restaurant Association, 62% of operators said their restaurants did not have enough employees to support existing demand. With onsite staff focused on in-house patrons, restaurant groups routinely miss between 30-60% of phone calls to their front of house (per PolyAI customer data) – meaning missed revenue opportunities and equally valuable customer touch points.

Never miss another call, thanks to PolyAI and OpenTable

With this strategic partnership, OpenTable’s global network of restaurants will be able to integrate PolyAI voice assistants, built using generative AI and spoken language technologies, to assist their diners in seamlessly booking and managing reservations over the phone, during and outside of operating hours.

“We know how tightly restaurants manage their guest experience and this can be even more complex for our partners doing business at scale,” said Susan Lee, Chief Strategy Officer at OpenTable. “We have, and continue to invest in, technology that pushes boundaries and enhances hospitality and our integration with PolyAI is a new way we can drive efficiencies for our restaurants, and diners.”

For larger operators, this partnership enables numerous iterations of voice assistants to cater to the unique needs of multi-location and multi-brand portfolios, while providing PolyAI’s proven enterprise-grade assurances around availability, security and data protection.

“We have extensive experience deploying voice assistants to hundreds of locations for some of the largest restaurant groups in the world, helping operators resolve up to 70% of calls over the phone without the need for additional staff,” said Michael Chen, VP of Strategic Alliances at PolyAI. “This strong connection with the restaurant industry started right from the earliest days of PolyAI. We’re thrilled to deepen that further and work with OpenTable to help even more restaurant operators attract more diners, streamline operations and maximise revenue.”

The journey starts at the Integration Marketplace

OpenTable restaurants will be able to request an integration with PolyAI via its Integration Marketplace, which powers 150+ integrations among the most widely used restaurant software. Beyond managing reservations over the phone, PolyAI’s guest-led voice assistants also offer operators a powerful new channel for implementing consistent brand experiences that can deliver greater personalisation, more proactive revenue and upsell as well as offer new ways of collecting diner feedback and tracking customer satisfaction.

About PolyAI

PolyAI is a leading provider of AI-powered voice assistants. Their customer-led voice assistants are used across industries within global companies where B2C conversations are crucial, like Whitbread, Greene King, Caesars Entertainment and FedEx. PolyAI’s award-winning voice assistants have earned renown for their ability to understand natural language and provide quick, accurate and helpful responses. Hear more about what they’re bringing to the market by visiting poly.ai

About OpenTable

OpenTable, a global leader in restaurant tech and part of Booking Holdings, Inc. (NASDAQ:BKNG), helps more than 60,000 restaurants worldwide fill 1.7 billion seats a year.  OpenTable’s world-class technology empowers restaurants to focus on what matters most – their team, their guests, and their bottom line – while enabling diners to discover and book the perfect restaurant for every occasion.

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VeriPark Receives Microsoft Business Applications 2024/2025 Inner Circle Award and Joins Partner Advisory Council

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LONDON, Sept. 23, 2024 /PRNewswire/ — VeriPark, a Microsoft Solutions Partner in the Financial Services Industry, has been selected for the Business Applications 2024-2025 Microsoft Inner Circle and the Microsoft Financial Services Partner Advisory Council.

Participation within Inner Circle is based on sales achievements that rank VeriPark in the top echelon of Microsoft’s Business Applications global network of partners. Inner Circle members are known for performing at a high-level by delivering innovative solutions that help organizations excel.

Ozkan Erener, CEO VeriPark: “We are honored to once again be recognized by Microsoft for our commitment to driving digital transformation for our clients. Partnering closely with Microsoft allows us to harness the latest technologies to revolutionize the Financial Services Industry. This recognition highlights the success of our collaborative strategy and execution.”

VeriPark first joined Microsoft’s Inner Circle in 2011 and has since provided innovative solutions that help financial institutions achieve a competitive advantage. By leveraging Microsoft’s platform, VeriPark continues to offer unparalleled services and solutions to its clients.

“Partners achieving the Inner Circle demonstrate an exceptional impact helping customers accelerate their AI and digital transformation with Dynamics 365 and Power Platform,” said Peter Jensen, Microsoft Business Application Partner Strategy Lead. “Microsoft AI Cloud Partner Program partners who achieve the Business Application Inner Circle distinction stand out for their deep AI, Cloud and Industry knowledge.”

Additionally, VeriPark’s selection for the Financial Services Partner Advisory Council highlights its role in shaping Microsoft’s financial services strategies and product roadmaps. As a PAC member, VeriPark will provide feedback on Microsoft’s financial services solutions and gain early insights into future roadmaps.

About VeriPark 

VeriPark is a global solutions provider enabling financial institutions to become digital leaders by placing Customer Experience at the core of digital transformation. VeriPark’s Intelligent Customer Experience suite delivers world class customer journeys on digital and assisted channels.

With its main offices located in the United Kingdom, Europe, North America, Asia, Africa and the Middle East, VeriPark helps financial institutions to enhance customer acquisition, retention and cross-sell capabilities. Their proven, secure, and scalable solutions cover Customer Engagement, Omni-Channel Delivery, Branch Automation, and Loan Origination. VeriPark collaborates with clients, crafting innovative technology strategies and solutions, that impact millions of people daily, bringing the promise of digital transformation to life.

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Huawei Updates FTTO 2.0 and Releases New Scenario-based Products, Driving Campus Networks to Wi-Fi 7 Era

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SHANGHAI, Sept. 23, 2024 /PRNewswire/ — During HUAWEI CONNECT 2024, Huawei updated fiber to the office (FTTO) 2.0 and launched a series of new scenario-based products for industries such as education, healthcare, and hospitality. The next-generation green 10G all-optical network oriented to Wi-Fi 7 accelerates fiber-in copper-out and contributes to campus intelligence.

“In the Wi-Fi 7 era, Fiber-in Copper-out is a must for campus networks, and FTTO 2.0 commercial use is accelerating. Huawei is willing to work with customers and partners to seize opportunities in optical business, achieving a win-win future for campus intelligence.” noted Gavin Gu, President of Enterprise Optical Business Domain, Huawei.

Huawei’s FTTO 2.0 solution achieves a simplified architecture with the number of network layers cut from three to two, active to passive transition, 30% lower energy consumption, and 80% less cabling. Based on XGS-PON Pro and Wi-Fi 7 technologies, this solution supports 12.5G/25Gbps to rooms, 10Gbps to APs, and 2.5Gbps to desktops. The hard slicing technology enables multiple services to be carried over one network, reducing the TCO by 30%. This helps enterprises build green, ultra-broadband, and simplified campus networks.

At the session, Huawei released a selection of FTTO 2.0 products for various scenarios and industries.

In the education industry, Huawei launched the industry’s first high-density ultra-10G optical terminal Huawei OptiXstar P884E for smart classrooms. Meeting the requirements of high-density and high-bandwidth access scenarios, this product implements 12.5G/25Gbps to classrooms and 2.5Gbps to desktops. For dormitories, Huawei launched the industry’s first 8-port Wi-Fi 7 optical AP OptiXstar W617E, which supports unified wired and wireless access for a room with 8 students. For education metro networks, Huawei launched the edge optical gateway Huawei OptiXstar E853E. Supporting remote PON port deployment, closed-loop local service forwarding, and flexible configuration, the Huawei OptiXstar E853E meets the access requirements of all services in campuses such as primary schools and kindergartens.

For hospital wards, Huawei launched the industry’s first 10G ceiling-mounted Wi-Fi 7 optical AP Huawei OptiXstar W817C, whose seamless roaming technology enables mobile ward rounds.

For hotels, Huawei launched the next-generation three-in-one Wi-Fi 7 optical AP Huawei OptiXstar W827E-3, which supports unified access of wired, wireless, and telephone services so that one ONT can carry all services in each guest room over one fiber. In this way, it provides ultimate Wi-Fi 7 network experience at a lower cost and improves the positive feedback rate of guests.

For factory workshops, Huawei launched the small-sized industrial optical terminal Huawei OptiXstar T602E, which supports guide rail installation and fiber to the machine without extra cabinets, allowing for flexible capacity expansion. By helping to build a reliable and flexible advanced industrial network for smart factories, the product improves the quality and efficiency of factory production.

Huawei’s FTTO solution has been put into commercial use in more than 9000 campuses around the world. In addition, Huawei’s 50G POL solution that supports hard slicing has also been put into commercial use.

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SOURCE Huawei

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