Short Video Platforms Market Size Worth $3.24 Billion By 2030

Short Video Platforms Market Growth & Trends

The global short video platforms market size is expected to reach USD 3.24 billion by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 10.2% from 2023 to 2030. The rise of smartphones, social media users, and the high rate of consumer adoption of streaming videos are responsible for the growth of the market. The short video platform has many applications, including entertainment, learning, and education. The audiovisual features of short videos capture the viewer’s attention, allowing users to analyze various information quickly and naturally. Worldwide implementation and adoption of the 5G network in the future are predicted to enhance video content consumption on these platforms considerably.

Education through short videos can be an excellent learning tool that can be very effective in the educational system. Users can ask questions, post comments, and provide feedback on these platforms, reshaping a new learning environment. A user’s learning experience can be improved by using these various educational-related features and functions of short video platforms.For instance, in May 2022, Coursera, an e-learning provider in the U.S., launched Clips, which provides over 10,000 short videos and lessons from leading businesses and universities. Through this, employees can easily access valuable and in-demand skill development content, allowing them to begin learning new skills quickly. The content of a short video platform communicates the message concisely, making users spend more time on them in search of more interesting information.

This gives brands another platform to invest. The use of short video platforms is growing for entertainment, income generation, and personal learning. For instance, in November 2022, SwaLay, a Music distribution organization in India, collaborated with Chingari, video sharing mobile app powered by GARI. This collaboration aims at helping thousands of aspiring artists and creators using the Chingari app and reaching millions of Indian consumers. Many businesses use these platforms to promote their products and services to strengthen their brand identity. The use of these platforms for advertising improves the company’s access to a larger audience and potential customers. Video content is becoming important to every brand’s content marketing strategy.

For instance, in May 2020, JD.com, a Chinese e-commerce company, announced a strategic partnership with Kuaishou, a short-video app in China. Through this partnership, the online retailer allows Kuaishou users to purchase JD products directly from the video app, redirecting shoppers to the e-commerce apps. The demand for these platforms increased significantly in North America as the U.S. is expected to hold the largest share in the regional market due to the presence of many players and the high demand for these platforms. increasing internet penetration in North America is also fueling market growth. For instance, in March 2020, YouTube launched its short video platform YouTube Shorts in the U.S. YouTube shorts enables new users to contribute to the YouTube ecosystem without filming and editing an entire video.

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Short Video Platforms Market Report Highlights

• The live video segment is projected to grow at the fastest CAGR from 2023 to 2030. The increasing trend to interact with customers using live video on social media, such as Instagram and Facebook, is expected to drive the segment growth

• The application-based segment dominated the industry in 2022.The availability of wireless broadband technology and the emergence of high-tech network infrastructure 5G mobile network is expected to drive the segment

• The IOS segment held the largest revenue share in 2022 and is projected to expand further at the fastest CAGR from 2022 to 2030

• The media and entertainment segment led the industry in 2022 and is estimated to grow at the fastest CAGR from 2022 to 2030

Short Video Platforms Market Segmentation

Grand View Research has segmented the global short video platforms market based on type, deployment, platform, end-use, and region:

Short Video Platforms Type Outlook (Revenue, USD Billion, 2017 - 2030)

• Live Video

• Video Posts

Short Video Platforms Deployment Outlook (Revenue, USD Billion, 2017 - 2030)

• Application-based

• Website-based

Short Video Platforms Outlook (Revenue, USD Billion, 2017 - 2030)

• Android

• IOS

• Windows

Short Video Platforms End-use Outlook (Revenue, USD Billion, 2017 - 2030)

• Education

• Media & Entertainment

• Live Commerce

• Others

Short Video Platforms Regional Outlook (Revenue, USD Billion, 2017 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • Mexico

  • U.K.

  • Germany

  • France

• Asia Pacific

  • China

  • Japan

  • India

• South America

  • Brazil

• Middle East and Africa

List of Key Players of Short Video Platforms Market

• 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)