June 15, 2024
Video Paas Market

The Global Video Paas Market Is Powered By The Growing Need For Online Video Platforms

Online video platforms have experienced a tremendous growth in recent years as the penetration of internet networks and streaming services continues to expand globally. Video PaaS solutions allow businesses to deploy and manage customized video experiences across various client devices in a cost-effective manner without massive upfront investments. These solutions offer businesses the ability to easily integrate video into their websites and mobile applications through pre-built APIs and developer tools.

The global Video PaaS Market is estimated to be valued at US$ 392.71 Bn in 2024 and is expected to exhibit a CAGR of 8.2%  over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends

The increasing adoption of Over-the-Top (OTT) streaming services across various industry verticals has emerged as a major trend influencing the growth momentum of the Video PaaS market. Video PaaS platforms facilitate the rapid launch of customized OTT platforms through their cloud-based video delivery infrastructure and developer tools. They enable businesses to easily deploy adaptive bitrate streaming, playback metadata, digital rights management, and other advanced video technologies to enhance the user experience on OTT platforms. Video PaaS platforms have empowered businesses across sectors like media & entertainment, e-commerce, healthcare, and education to expand their digital presence by leveraging video content. Their abilities to simplify video deployment across websites, mobile applications, and smart TVs while optimizing operational costs is expected to further propel the market growth over the forecast period.

Porter’s Analysis

Threat of new entrants: The video PaaS market is moderately difficult to enter because of the high initial capital requirement and the presence of established players. However, new technological advancements and rising venture capital funding make it easier for new startups to enter the market.

Bargaining power of buyers: The bargaining power of buyers is moderate as buyers have many options to choose from. However, buyers prefer reputed vendors providing advanced features and security to critical operations through video PaaS solutions.

Bargaining power of suppliers: The bargaining power of suppliers is low as there are many component providers and no supplier holds significant influence over pricing. Suppliers focus on developing differentiated offerings and providing additional features to gain a competitive edge.

Threat of new substitutes: The threat of new substitutes is moderate to high as other cloud services can perform video processing functions. However, video PaaS provides specialized capabilities for video workloads, making it difficult to completely substitute.

Competitive rivalry: The competitive rivalry is high due to the presence of numerous technology giants offering video PaaS solutions and competing based on pricing, functionality, and customer support.

Key Takeaways

The global Video Paas Market Size is expected to witness high growth. The global Video PaaS Market is estimated to be valued at US$ 392.71 Bn in 2024 and is expected to exhibit a CAGR of 8.2%  over the forecast period 2024 to 2031.

Regional analysis comprises North America dominated the market in 2024 and is expected to continue its dominance during the forecast period. Key growth factors are rising adoption of cloud-based video platforms for collaboration and streaming.

Key players operating in the video PaaS market are Telestream, Wowza Media Systems, JW Player, Agile Content, Kaltura, Twilio, Brightcove, Vidyo, Sonic Foundry and Panopto. Asia Pacific region is expected to witness fastest growth in adoption of video PaaS solutions owing to growing internet penetration, increasing demand for OTT platforms and rising BYOD trend among enterprises in countries such as China, India and Japan.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it