London, 13 July 2015: Technavio, the independent tech-focused global research firm, has published a report on the online video platform market in Latin America 2015-2019, which is expected to grow at a CAGR of 20.37% during the forecast period of 2014-2019.
Recent advances in technology and the growing mobile market drive the prospects of growth in this market. The increasing penetration of mobile devices coupled with the availability of low-cost data plans allows users to easily access online videos. Factors such as the penetration of broadband services, increased use of rich media files across sectors such as media, enterprise, and entertainment, increase in the number of videos being streamed, and the growing use of the internet to upload rich content contribute towards the growth of this market.
“By 2016, video conferencing is going to become the most used method for business communication, replacing the concept of conference calls. Several consumer devices such as broadband-connected PCs and smartphones and tablets can be used by employees of the organization to connect, communicate, and share data with each other,” says Faisal Ghaus, Vice President of Technavio.
“Video conferencing using Skype is inexpensive and easy to use and execute. More than 50% of SMEs in Latin America have replaced business travel with video-based communication. Several large companies are also investing in video conferencing to reduce their business-related travel costs.”
Key Market Drivers:
- Increase in Online Video Audience.
- Rise in Internet Penetration.
- Increase in Demand for Smartphones.
- Rise in Preference for Voice on Demand Services.
Key Market Trends:
- Growing Usage of Videoconferencing.
- Growth in Subscriptions of 3G/4G Networks.
- Growth in Video Analytics Market.
- High Utilization of Social Media.
Key Market Vendors:
- Brightcove Inc.
- Kaltura Inc.
- Ooyala Inc.
- Samba Group
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges, and trends featuring data on product segmentations, vendor shares, growth rate by revenue, and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
