Short Video Platform Market size was over USD 1.66 Billion in 2023 and is poised to cross USD 5.63 Billion by the end of 2036, witnessing more than 10% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of short video platform is estimated at USD 1.9 Billion. The rising number of online video viewers is predicted to increase the demand for short video platforms in the future. In 2021, there were almost 3 billion digital video viewers around the globe which is projected to increase to 4 billion by the end of 2023.
The ability to distribute videos through short video platforms has increased its popularity among artists to attract a large pool of audiences. Furthermore, businesses are leveraging the benefits of short video platforms by combining them with influencer marketing to advertise their company and reach a larger consumer base. These factors couple up to bring lucrative growth opportunities for market growth during the forecasted timeline.
Growth Drivers
Challenges
|
Base Year |
2023 |
|
Forecast Year |
2024-2036 |
|
CAGR |
10% |
|
Base Year Market Size (2023) |
USD 1.66 Billion |
|
Forecast Year Market Size (2036) |
USD 5.63 Billion |
|
Regional Scope |
|
Platform (Android, IOS, Windows)
The android segment is estimated to hold 39% share of the short video platform market by 2036. The global increase in Android users is the primary reason that is driving the segment value. Almost 50% of the smartphone users in the world are Android smart users today which accounts for approximately 3 billion Android users. The low cost and ease of use make consumers prefer Android technology. Also, Android-based devices have many advantages such as the ability of multitasking, the availability of sensors, and fingerprint security features. Being an open-source platform, android offers greater freedom and customization options to the users. All these factors couple up to create a positive outlook to favor a robust revenue generation in the next few years.
End-Use (Education, Media & Entertainment, Live Commerce)
The segment value of media & entertainment is projected to be the highest with a share of 42% by 2036. The growing consumer base with its rising interest in live events and video content for relaxation purposes are the major factors for segment expansion. Also, the escalation in the preference for spending on entertainment sources is set to help in fueling the segment growth in the assessment period.
Our in-depth analysis of the market includes the following segments:
|
Type |
|
|
Deployment |
|
|
Platform |
|
|
End-Use |
|
North America Market Forecast
North America short video platform market is poised to be the highest with a revenue share of 38% by 2036. The rising focus on bringing advancements in 5G network technology and internet services is projected to favor market growth in the region. Moreover, the rising businesses in the area that use short video platforms for advertising and promotion purposes are also forecasted to bring in lucrative growth opportunities.
APAC Market Analysis
The Asia Pacific short video platform market value is also expected to grow steadily in the forecast period and hold 24% by the end of it. Asia Pacific region has the largest burgeoning population which is slated to favor market growth. Furthermore, the rising focus on spreading internet services to the remotest areas and the high scope of live-streaming videos in the media and entertainment industry is fueling the number of short video users and market value. The expansion of the social media sector and other video streaming services such as OTT is estimated to help in expanding the market size.
Author Credits: Abhishek Verma
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?