Short Video Platforms Market Soars: Projected to Reach USD 3.24 billion by 2030
The global short video platforms market size was valued at USD 1.52 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 10.2% during the forecast period. The increased global internet penetration, increased production of videos and online content, and the proliferation of smartphones are some of the main factors anticipated to propel the growth of the market. For instance, in November 2022, Jio Platforms, an Indian Multinational Technology company, partnered with Creative Android Asia, a creative services company, and Rolling Stone’s Indian edition launched a new app called Platform. Platform app aims to target celebrity entertainers with an ecosystem designed for organic growth and consistent monetization and empowers creators to advance through ranks and reputation. Short video platforms have given companies a new option to distribute internet video adverts. The quality of commercials is the major component that draws customers to sh...