Short Video Platform Market Overview
The Short Video Platform Market Size was estimated at 20.48 (USD Billion) in 2022.The Short Video Platform Market Industry is expected to grow from 26.69(USD Billion) in 2023 to 289.52 (USD Billion) by 2032. The Short Video Platform Market CAGR (growth rate) is expected to be around 30.33% during the forecast period (2024 - 2032).
Key Short Video Platform Market Trends Highlighted
Key market drivers for short video platforms include the rising popularity of social media, increasing mobile penetration, and the growing demand for engaging and shareable content. These platforms offer a unique opportunity for businesses to connect with their target audience, showcase their products and services, and drive traffic to their websites.Opportunities for exploration in the short video platform market include the development of advanced features such as artificial intelligence (AI) and augmented reality (AR), the expansion into new markets, and the creation of innovative content formats. As the market continues to evolve, it is essential for businesses to stay updated on the latest trends and adapt their strategies accordingly.
Recent trends in the short video platform market include the emergence of live streaming, the rise of vertical video, and the increasing popularity of user-generated content. These trends are shaping the way businesses use short video platforms to engage with their audiences and create a more immersive and interactive experience.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Short Video Platform Market Drivers
Growing Popularity of Short-Form Video Content
The increasing popularity of short-form video content is a major driver of the growth of the Short Video Platform Market Industry. Short-form video content is highly engaging and easy to consume, making it ideal for mobile consumption. The rise of social media platforms such as TikTok and Instagram, which are focused on short-form video content, has further fueled the growth of this market. Additionally, the increasing availability of high-speed internet and mobile devices has made it easier for users to create and share short-form video content, further contributing to the growth of the market.
Technological Advancements and Innovation
Driver 3 Technological advancements and innovation Technological advancements and innovation are also key drivers of the growth of the Short Video Platform Market Industry. The development of new technologies, such as artificial intelligence and machine learning, is enabling short video platforms to offer more personalized and engaging experiences to users. For example, an AI-powered recommendation engine can help users discover new and relevant things.In addition, machine learning algorithms can be used to create a personalized video based on previous viewing practices. Besides, the advent of new video formats, such as augmented reality and virtual reality, is also expected to drive the growth of the market.
Expansion into Emerging Markets
The expansion of short video platforms into emerging markets is another key driver of growth. Emerging markets represent a significant opportunity for growth, as they have a large and growing population of mobile users who are eager to consume short-form video content. Short video platforms are well-positioned to capitalize on this opportunity by offering localized content and features that are tailored to the needs of these markets. For example, TikTok has seen significant growth in emerging markets such as India and Southeast Asia by offering content in local languages and partnering with local creators.
Short Video Platform Market Segment Insights
Short Video Platform Market Content Format Insights
The Content Format segment of the Short Video Platform Market comprises Live Streaming, Short-Form Videos, and Long-Form Videos and Livestreaming Commerce. Live Streaming dominated content format segment in the short video platform market 2023 with more than 45% revenue.
The segment’s growth is credited to the increasing events, concerts, and interactive events. Short-Form Videos are rapidly growing with shorter videos found to be more palatable and entertaining for younger generations, constituting over 30% of the market. Long-Form Videos are portals to lengthy and in-depth content that cater to the interests of many who enjoy feature films, biopic docudramas, and more, contributing to more than 20% of the market.As the newest member of the segment, Livestreaming Commerce combines live streaming and e-commerce in a natural way, allowing live content creators to sell products directly to viewers. The unified format is gaining traction in the market, and it is expected that the Content Format segment of the Short Video Platform Market will proceed ahead at a CAGR of 28% from 2023 to 2032, thereby reaching a turnover of $223.6 billion by 2032.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Short Video Platform Market Video Length Insights
Segmentation of the Short Video Platform Market by video length is an important tool to understand user preferences and content consumption. In 2023, the “Less than 15 seconds” segment was the largest as platforms such as TikTok, and Instagram Reels became increasingly popular providing content that perfectly fits in the short time span. The segment “15-60 seconds” is also gaining popularity because of the existing platforms, such as YouTube Shorts and Snapchat Spotlight, which provide videos of slightly longer duration, which could be still considered short.
To perform more in-depth analysis and obtain valuable insights, it is important to also consider the segment “1-5 minutes,” which is anticipated to grow during the forecast period as users look for more content-rich information. The “5-15 minutes” segment appeals to the needs and interests of a very small and specific group of users who may require longer form of content, such as different educational or informative videos, or short mini-documentaries.
The smallest segment with the least market share is the “More than 15 minutes” segment that is due to the presence of fewer specialized platforms, which concentrate on providing live streaming or user-generated documentaries.The knowledge of these segmentation insights is important for any platform development, content strategy, and audience engagement in the Short Video Platform Market.
Short Video Platform Market Monetization Model Insights
The Short Video Platform Market is segmented based on Monetization Model into Advertising-Based Video on Demand (AVOD), Subscription Video on Demand (SVOD), and Transactional Video on Demand (TVOD). The AVOD segment held the largest market share in 2023, accounting for over 50% of the Short Video Platform Market revenue. The SVOD segment is expected to grow at the highest CAGR during the forecast period, driven by the increasing popularity of subscription-based streaming services. The TVOD segment is expected to account for a significant market share in 2024, due to the growing trend of renting or purchasing individual videos on-demand.
Short Video Platform Market Platform Type Insights
The Short Video Platform Market is segmented by Platform Type into Mobile-First, Web-Based, and Smart TV. Among these, the Mobile-First segment is expected to hold the largest market share in 2023, owing to the increasing penetration of smartphones and the convenience they offer for creating and sharing short videos. The Web-Based segment is expected to witness significant growth over the forecast period, driven by the rising popularity of online video streaming platforms. The Smart TV segment is expected to gain traction due to the growing adoption of smart TVs and the increasing availability of short video content on these devices.
Short Video Platform Market Vertical Insights
The Short Video Platform Market is segmented into various verticals, including entertainment, education, news, social media, and gaming. Each vertical has its own unique set of characteristics, growth drivers, and challenges. The entertainment vertical is the largest segment of the Short Video Platform Market, accounting for over 50% of the market revenue in 2023.
This segment is driven by the growing popularity of short-form video content, such as videos on TikTok, Instagram Reels, and YouTube Shorts. The increasing use of smartphones and the widespread availability of high-speed internet have contributed to the growth of this segment.The education vertical is another significant segment of the Short Video Platform Market, with a growing number of educational institutions and organizations using short videos to deliver educational content.
This segment is expected to grow at a CAGR of over 20% during the forecast period, driven by the increasing adoption of blended learning and online education. The news vertical is also growing rapidly, with many news organizations using short videos to deliver news updates and stories. This segment is expected to grow at a CAGR of over 15% during the forecast period, driven by the increasing demand for real-time news and information.
The social media vertical is another important segment of the Short Video Platform Market, with many social media platforms incorporating short video features into their offerings. This segment is expected to grow at a CAGR of over 25% during the forecast period, driven by the increasing popularity of social media and the growing use of short videos for social interaction. The gaming vertical is a relatively small segment of the Short Video Platform Market, but it is growing rapidly, driven by the increasing popularity of mobile gaming and the emergence of new gaming platforms.This segment is expected to grow at a CAGR of over 20% during the forecast period.
Short Video Platform Market Target Audience Insights
The target audience for the Short Video Platform Market is diverse, spanning across different generations with unique preferences and usage patterns. Gen Z, born between 1997 and 2012, is a key demographic, comprising a significant portion of the market. They are digital natives known for their heavy consumption of short-form video content, with platforms like TikTok and Instagram Reels catering to their preferences.
Millennials, born between 1981 and 1996, are another important segment, exhibiting a growing affinity for short videos due to their fast-paced lifestyles and desire for instant gratification.Gen X, born between 1965 and 1980, while initially less engaged with short video platforms, are gradually adopting them, contributing to the market's growth. Baby Boomers, born between 1946 and 1964, have a smaller but steadily increasing presence in the market, as they become more comfortable with digital technologies. Seniors 65+, born before 1946, represent a niche segment, with limited adoption of short video platforms, but offer potential for future growth as technology adoption continues to expand in this age group.
Short Video Platform Market Device Type Insights
The Short Video Platform Market Segmentation data reveals that the Device Type segment plays a crucial role in shaping the industry landscape. In 2023, smartphones dominated the market with a significant revenue share, primarily driven by their widespread adoption and the convenience of consuming short-form video content on the go. Tablets and laptops follow closely, capturing a notable market share due to their larger screen sizes and enhanced viewing experiences. Desktops and Smart TVs also contribute to the market growth, albeit with smaller shares.Market experts anticipate that the Device Type segment will continue to evolve, with smartphones maintaining their dominance while other devices may gain traction in specific use cases.
Short Video Platform Market Regional Insights
The regional segmentation of the Short Video Platform Market offers valuable insights into the market's geographic distribution and growth patterns. North America, Europe, APAC, South America, and MEA are the key regions analyzed in this market research. North America is expected to hold a significant market share due to the presence of established players and high adoption rates of short-form video content. The region's advanced digital infrastructure and tech-savvy population contribute to its growth.
Europe follows closely, with a growing number of users engaging with short video platforms for entertainment and information.APAC is projected to witness the fastest growth in the coming years, driven by the rising popularity of short video platforms in countries like China, India, and Southeast Asia. The region's large and population, coupled with increasing smartphone penetration, is fueling market expansion. South America and MEA are also expected to experience steady growth, as short video platforms gain traction in these emerging markets.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Short Video Platform Market Key Players And Competitive Insights
Short Video Platform Market major players compete for market share, innovate new features, and expand into new geographical locations. Partnership, acquisition, collaboration, and market expansion are common strategies adopted by these players. The competitive landscape should remain dynamic with new players constantly entering the market and challenging the established players. Heavy investments are being made by Short Video Platform Market leading players in research and development to stay ahead of the competition and meet the changing needs of users.TikTok, a subsidiary of ByteDance, is one of the market-leading companies within the Short Video Platform Market.
TikTok has quickly become popular worldwide, especially with younger populations. With ByteDance being the parent company, TikTok leveraged its advanced algorithms to quickly gain a large share of the short video market. TikTok’s user interface is easy to use and the company also has access to a vast amount of videos to analyze. The company has expanded rapidly into new markets and also made investments in tools to create content to attract creators and keep users actively engaged.The other player within the Short Video Platform Market is YouTube Shorts, which is a subsidiary of Google.
YouTube Shorts quickly gained a big market share in the short video segment by leveraging the large user base of YouTube. YouTube Shorts provides users with access to a big range of content from original short videos and content from users to clips from already existing YouTube. The company has made plenty of investments in innovation and market expansion and added features such as “Shorts camera” and “Remix” to engage users more. YouTube Shorts is focusing on attracting creators and creating a strong community to tap growth in the Short Video Category.
Key Companies in the Short Video Platform Market Include
- Triller
- YouTube Shorts
- TikTok
- MX Takatak
- Moj
- ByteDance
- Likee
- Roposo App
- Snapchat Spotlight
- Dubsmash
- Chingari App
- Vigo Video App
- Firework
- Instagram Reels
- Josh
Short Video Platform Market Industry Developments
The short video platform market is projected to reach $289.52 billion by 2032, exhibiting a CAGR of 30.33% from 2024 to 2032. The market growth is attributed to the increasing popularity of short-form video content, the proliferation of smartphones and affordable internet access, and the growing adoption of social media platforms. Key players in the market include TikTok, YouTube Shorts, Instagram Reels, and Snapchat. These platforms are constantly innovating and adding new features to attract and retain users. For instance, in 2023, TikTok launched a new feature called "TikTok LIVE Subscription," which allows creators to charge viewers for access to exclusive content.
Short Video Platform Market Segmentation Insights
Short Video Platform Market Content Format Outlook
- Live Streaming
- Short-Form Videos
- Long-Form Videos
- Livestreaming Commerce
Short Video Platform Market Video Length Outlook
- Less than 15 seconds
- 15-60 seconds
- 1-5 minutes
- 5-15 minutes
- More than 15 minutes
Short Video Platform Market Monetization Model Outlook
- Advertising-Based Video on Demand (AVOD)
- Subscription Video on Demand (SVOD)
- Transactional Video on Demand (TVOD)
Short Video Platform Market Platform Type Outlook
- Mobile-First
- Web-Based
- Smart TV
Short Video Platform Market Vertical Outlook
- Entertainment
- Education
- News
- Social Media
- Gaming
Short Video Platform Market Target Audience Outlook
- Gen Z
- Millennials
- Gen X
- Baby Boomers
- Seniors 65+
Short Video Platform Market Device Type Outlook
- Smartphones
- Tablets
- Laptops
- Desktops
- Smart TVs
Short Video Platform Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
20.48(USD Billion) |
| Market Size 2023 |
26.69(USD Billion) |
| Market Size 2032 |
289.52(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
30.33% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Triller, YouTube Shorts, TikTok, MX Takatak, Moj, ByteDance, Likee, Roposo App, Snapchat Spotlight, Dubsmash, Chingari App, Vigo Video App, Firework, Instagram Reels, Josh |
| Segments Covered |
Content Format, Video Length, Monetization Model, Platform Type, Vertical, Target Audience, Device Type, Regional |
| Key Market Opportunities |
Growth in Ecommerce Increased Mobile Penetration Content Monetization Opportunities |
| Key Market Dynamics |
Rising smartphone penetration increasing internet connectivity growth of social media emergence of live streaming and content diversification |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Short Video Platform Market size was valued at USD 26.69 billion in 2023 and is projected to reach USD 289.52 billion by 2032, exhibiting a CAGR of 30.33% during the forecast period.
Regionally, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific is expected to hold the largest market share during the forecast period.
Key growth drivers of the market include the increasing popularity of short-form video content, the rising adoption of smartphones and mobile internet, and the growing demand for personalized and engaging content.
Key competitors in the market include TikTok, YouTube Shorts, Instagram Reels, Snapchat, and Triller.
Major applications of short video platforms include entertainment, social media, marketing, and education.
The Short Video Platform Market is expected to reach USD 62.34 billion by 2025.
The Short Video Platform Market is expected to reach USD 203.77 billion by 2030.
Challenges faced by the market include concerns over data privacy, content moderation, and competition from traditional media.
Growth opportunities for the market include the increasing adoption of 5G technology, the rise of immersive technologies, and the expansion of the market into new regions.
Key trends in the market include the increasing popularity of vertical video, the integration of e-commerce features, and the use of short videos for educational purposes.
