The global short video platforms market size was valued at USD 1.52 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 10.2% during the forecast period. The increased global internet penetration, increased production of videos and online content, and the proliferation of smartphones are some of the main factors anticipated to propel the growth of the market. For instance, in November 2022, Jio Platforms, an Indian Multinational Technology company, partnered with Creative Android Asia, a creative services company, and Rolling Stone’s Indian edition launched a new app called Platform. Platform app aims to target celebrity entertainers with an ecosystem designed for organic growth and consistent monetization and empowers creators to advance through ranks and reputation.
Short video platforms have given companies a new option to distribute internet video adverts. The quality of commercials is the major component that draws customers to short video platforms.Advertisers want to leverage the power of short videos, combining it with the growing popularity of influencer marketing, to deliver their product and messaging effectively, which is a major factor driving the rise of short-video platforms.Shortvideo platforms in India, such as Dailyhunt’s Josh, Times Internet’s MX TakaTak, and ShareChat’s Moj, are enticing companies to advertise on their platforms over the holiday season since they have achieved sufficient scale in terms of audience reach.
Healthcare video production is an excellent method for delivering educational content since it is both cost-effective and visually & audibly conveys information. Healthcare video also ensures that each patient receives consistent clinical details in an easy-to-understand manner. For instance, MedPower LLC is a U.S.-based platform that provides training to doctors, nurses, and other medical personnel through short videos. The medical explanation video employs a combination of character animation and the analogy of the MedPower equipment. The video displays difficult training materials being fed into the machine and then spits them out in shorter video courses provided by MedPower.
The increasing penetration of wireless networks and easy internet access in developing countries are driving more people to short video platforms. Many users have easy access to high-quality short video content because of the widespread adoption of 4G and 5G networks, which is expected to significantly increase video content consumption on short video platforms. Ericcson’s Mobility Report, published in June 2021 stated that 22% of users of smartphones in India already own 5G-ready handsets. Moreover, the company also predicted that 5G adoption will be much faster than that of the 4G/LTE spectrum.
The video post segment dominated the industry in 2022 and accounted for the maximum share of 59.1% of the overall revenue. Video post promotes stronger engagement with targeted audiences and is easier to consume and recall. Short-form content’s potential can help businesses gain a competitive advantage, and sharing product demonstrations highlighting benefits and features promotes the video segmentgrowth. The rise of online video and social sharing creates a significant opportunity for online marketing growth.
As a result, businesses are ready and eager to embark on a new venture with a certified marketing partner and a data-driven plan to manage a video-based marketing campaign.Live video allows marketers and consumers to share unedited, real-time footage on social media sites, such as Facebook and Instagram. Live video enables brands reach and interact with millions of people worldwide.The ability to incorporate a range of content and multimedia, such as images, text, as well as access to various presentation styles, contributed to the increased use of live videos.TikTok and YouTube experience tremendous development and high levels of interaction and other social networking sites are also introducing short video options to remain competitive.
The application-based segment dominated the market with the revenue share of more than 75.7% in 2022. The application-based segment includes Instagram Reel, Tiktok, Beat.ly, Vimeo, and others. The availability of wireless broadband technology and the emergence of 4G/5G mobile networks are expected to drive the segment growth.Several benefits associated with the application-based segment, such as the ability to watch videos at any time and record them, are projected to increase demand for this segment over the forecast period.
The website-based category is also expected to grow significantly over the forecast years due to a wide usage by companies to market their products/services. Moreover, everything from brand awareness videos to product demonstrations and customer testimonials can be included to market the product. For instance, Dubai Association Centre, a government-initiated entity that helps non-profit, apolitical, and nonreligious professional associations and trade bodies in Dubai, chose a vibrant animated explainer video. This video aims to distill the essence of their message into a single wonderfully textured and colorful animation.
The IOS segment dominated the market with a revenue share of 42.6% in 2022. The global increase in smartphone adoption is a primary factor driving the expansion of this segment. Consumer data is at risk when using the short video app, but IOS is designed in such a way that no one can obtain it without the user's permission. Moreover, the iPhone's memory is encrypted, making it impossible to hack the device and read confidential data. The IOS segment is expected to grow significantly due to the increasing popularity of Apple products and the rising demand for luxury smartphones.
The Android segment is also expected to grow rapidly during the forecast period because of its low cost and ease of use and customers prefer the technology that is simple to use and inexpensive. Moreover, Android-based devices include multitasking, sensors, and fingerprint security features. As Android is an open-source platform, it provides greater freedom and customization choices, and it can be used on devices from various manufacturers. The emergence of new android smartphone manufacturers has resulted in the introduction of a diverse range of short video applications.
The media and entertainment segment led the industry with the revenue share of 47.4% in 2022.The surge in live streaming events and growing consumer base, and advancements in mobile technology are predicted to play a significant role in the development of the media and entertainment segment. The essential aspects of the entertainment market include electronic, exhibition, live, mass media, and musical. Users can modify videos, apply face filters, and beauty effects, and add music or dialogues in the background; all of these factorsare propelling the media and entertainment sector.
The education segment is projected to register the fastest CAGR during the forecast period as people invest in learning new skills and expanding their knowledge in the information age to keep up with the ever-changing digital era. As the popularity of digital videos provided through short video learning apps grows, free skill learning platforms extend into the educational system. Short video-based learning is a great way to improve memory, coordination, and problem-solving skills and also engages users, which leads to the growth of the educational segment. Short video application is designed in such a way that helps learners retain and apply new knowledge and skills.
North America dominated the industry in 2022 with the revenue share of 37.6%. The region’s growth is projected to continue shortly with the advent of superior 5G network technology, which will make short video platforms much faster and more agile. Moreover, many U.S. businesses use short video platforms to promote their products and services to strengthen their brand identity. For instance, in December 2022, Amazon.com, Inc. launched Inspire, a short-form video and photo feed. Inspire enables consumers to learn products and shop from content produced by businesses, influencers, and other customers.
Market in Asia Pacific is anticipated to grow significantly throughout the forecast period. As internet penetration increases across this region, the market is projected to benefit from the growing scope of live-streaming videos in the media & entertainment sector. Asia Pacific is expected to benefit the most from the trend as it has the world’s largest population, which is fueling the number of short video users. Moreover, the availability of live video streaming services on social media sites, such as Facebook and YouTube, is increasing the total number of users on these platforms.
The market is characterized by strong competition, with a few global competitors owning a significant industry share. Key players focus on new productdevelop and collaboration. For instance, in December 2020, Google LLC invested in two Indian short-video platforms, Roposo, owned by Glance, and Josh, owned by Dailyhunt. With this investment, Google LLC seeks to improve its AI expertise across Josh and Roposo, expand its technology staff and provide services on the platforms. Some of the prominent players in the global short video platforms market include:
Beijing Wei Ran Internet Technology
ByteDance Ltd. (Toutiao)
Snap Inc. (Snapchat)
Snow Corp. ( B612)
Tencent Holdings Ltd. (Weishi)
Yixia Technology (Miaopai)
Market size value in 2023
USD 1.64 billion
Revenue forecast in 2030
USD 3.24 billion
CAGR of 10.2% from 2023 to 2030
Base year for estimation
2017 - 2021
2023 - 2030
Market revenue in USD million/billion and CAGR from 2023 to 2030
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Type, deployment, platform, end-use, region
North America; Europe; Asia Pacific; South America; MEA
U.S.; Canada; Mexico; U.K.; Germany; France; China; India; Japan; Brazil
Key companies profiled
Beijing Wei Ran Internet Technology; ByteDance Ltd. (Toutiao); Doupai; Facebook (Instagram); Kuaishou Technology; Meipai; Snap Inc. (Snapchat); Snow Corp. (B612); Tencent Holdings Ltd. (Weishi); Vimeo, Inc.; Yixia Technology (Miaopai)
Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional, and segment scope.
Pricing and purchase options
Avail customized purchase options to meet your exact research needs. Explore purchase options
This report forecasts revenue growth on global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For the purpose of this study, Grand View Research has segmented the global short video platforms market report on the basis of type, deployment, platform, end-use, and region:
Type Outlook (Revenue, USD Billion, 2017 - 2030)
Deployment Outlook (Revenue, USD Billion, 2017 - 2030)
Platform Outlook (Revenue, USD Billion, 2017 - 2030)
End-use Outlook (Revenue, USD Billion, 2017 - 2030)
Media & Entertainment
Regional Outlook (Revenue, USD Billion, 2017 - 2030)
Middle East and Africa
b. The global short video platforms market size was estimated at USD 1.52 billion in 2022 and is expected to reach USD 1.64 billion in 2023.
b. The global short video platforms market is expected to grow at a compound annual growth rate of 10.2% from 2023 to 2030 to reach USD 3.24 billion by 2030.
b. North America dominated the short video platforms market with a share of 37.6% in 2022. This is attributable to the continue shortly with the advent of superior 5G network technology, which will make short video platforms much faster and more agile.
b. Some key players operating in the short video platforms market include Beijing Wei Ran Internet Technology, ByteDance Ltd. (Toutiao), Doupai, Facebook (Instagram), Kuaishou Technology, Meipai, Snap Inc.(Snapchat), Snow Corporation( B612), Tencent Holdings Ltd. (Weishi), Vimeo, Inc., Yixia Technology (Miaopai)
b. Key factors that are driving the short video platforms market growth include rise of smartphones, social media users, and the high rate of consumer adoption of streaming videos are responsible for the growth of short video platform market
NEED A CUSTOM REPORT?
We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities. Contact us now
"The quality of research they have done for us has been excellent."