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Global Online Video Platforms Market to Double by 2019, says Frost & Sullivan

Global Online Video Platforms Market to Double by 2019, says Frost & Sullivan

Frost & Sullivan via a new report, 'Analysis of the Global Online Video Platforms Market', forecasts the global online video platform (OVP) market to double by 2019, reaching $800.2 million by 2019.  Frost attributes the rapid growth of this segment to the importance of the OVP as means of stakeholder communication and collaboration for enterprises globally.

The growth in this segment is also compounded by the content proliferation and the bring your own device (BYOD) trend. OVP's are becoming an essential fixture as media and entertainment (M&E) companies are urged to economically deliver video to fast-growing, fragmented video-enabled consumer devices, said Frost and Sullivan. 

Nevertheless, Frost & Sullivan cautioned that security concerns around handling branded Intellectual Property (IP) in the cloud and the lack of enterprise-wide video strategies also present challenges. In addition, there is also confusion around what constitutes an OVP owing to the number of features, including transcoding, DRM, analytics and multi-platform delivery, said Frost & Sullivan.

"As more niche content finds its way online and intense competition causes customers to differentiate on content selection, time to market, and quality of experience, OVPs will be critical to ensure business success for M&E firms,"The inability of M&E organizations to handle the complexity of publishing video online is particularly fuelling the demand for OVPs that can manage and monetize video assets. Investing in tighter technology partnerships to provide customers with value-added services and critically analyzing product portfolios to make partner versus acquire decisions will be key to maintaining a competitive edge in this market," noted Vinny. "Even if they do not cultivate a strong local presence, OVP vendors must at least invest in building relationships with reseller channels in Latin America, the Middle East and Asia-Pacific to widen their market scope."

-         Frost & Sullivan Digital Media Industry Analyst Anisha Vinny

Author

Ray is a news editor at The Fast Mode, bringing with him more than 10 years of experience in the wireless industry.

For tips and feedback, email Ray at ray.sharma(at)thefastmode.com, or reach him on LinkedIn @raysharma10, Facebook @1RaySharma

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