The global short video platforms market was valued at USD 1.52 billion in 2022 and is projected to reach USD 3.24 billion by 2030, expanding at a CAGR of 10.2% from 2023 to 2030. This growth is driven by the widespread penetration of the internet, rising video and online content production, and the rapid proliferation of smartphones worldwide.In a notable development from November 2022, Jio Platforms, a leading Indian multinational technology firm, partnered with Creative Android Asia and Rolling Stone India to launch a new application named Platform. This app is designed to support celebrity entertainers by providing an ecosystem for organic growth and reliable monetization, allowing creators to enhance their visibility and reputation.
Key Market Trends and Insights
• By Type: The video post segment led the market in 2022, capturing 59.1% of total revenue. This dominance is attributed to the segment's ability to drive user engagement and provide easily consumable, memorable content. Product demos and feature highlights through short videos are increasingly helping businesses stay competitive.
• By Deployment: The application-based segment accounted for the highest revenue share, exceeding 75.7% in 2022. This category includes apps like Instagram Reels, TikTok, Beat.ly, and Vimeo. The development of wireless broadband and the rollout of 4G/5G networks are key factors fueling this segment’s growth.
• By Platform: iOS led the market with a revenue share of 42.6% in 2022. The rise in global smartphone usage is a key driver. Despite concerns about data security in video apps, iOS offers a strong layer of protection by restricting data access without user consent.
• By End-use: The media and entertainment segment emerged as the largest end-use category in 2022, holding a 47.4% revenue share. This growth is linked to the increasing popularity of live-streamed events, a growing user base, and advancements in mobile technology.
Market Size & Forecast
• 2022 Market Size: USD 1.52 Billion
• 2030 Projected Market Size: USD 3.24 Billion
• CAGR (2023–2030): 10.2%
• Leading Region (2022): North America
Key Companies and Market Share Insights
The global short video platforms market is highly competitive, with a few major players holding significant market shares. Key companies are focusing on product innovation and strategic partnerships to strengthen their market presence. For example, in December 2020, Google LLC invested in two Indian short video platforms, Roposo (owned by Glance) and Josh (owned by Dailyhunt). This investment was aimed at enhancing AI capabilities, expanding the technical workforce, and improving service offerings across these platforms.
Prominent players in the market include:
• 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)
Order a free sample PDF of the Short Video Platforms Market Intelligence Study, published by Grand View Research.