South Korea OVP Market
South Korea Online Video Platforms (OVP) Market By Deployment Type, By Application, By Geography And Forecast
According to Verified Market Research, the South Korea Online Video Platforms (OVP) Market was valued at USD 23.32 Million in 2018 and is projected to reach USD 79.62 Million by 2026, growing at a CAGR of 16.68% from 2019 to 2026.
Online Video Platforms (OVP) are defined as the platforms that provides live and recorded content on a website. In other words, online video platforms are also known as where internet video live. The OVP is responsible for hosting video content and also streams it for the viewers. The role of such online platforms plays an integral role in delivering benefits to consumers and businesses.
Also, the diversity of online platforms in terms of activity, sector, business model, and size are becoming prominent in the market. Online video platforms can be deployed using both cloud as well as on-premises mode and that is what makes the nature of OVPs more dynamic. Online video platforms can be used in the media industry, for marketing and sales purpose as well as in the enterprises.
The growing OTT services in South Korea is expected to drive the market for OVP market in forecast period. Currently, various OTT services are available in Korea. For instance, in 2004, PandoraTV launched an Internet video sharing website that hosts user-generated content (UCC) and Africa TV launched Internet individual broadcasting service in 2006. Also, in 2007, Daum launched Daum TVPot service which was one of the free OTT services.
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