- The innovative interfaces offered by key vendors in this segment include content management, format conversion, distributed caching, advertising insertion, and content protection.
London, 12 May 2014: A recently published report by TechNavio, the independent tech-focused global research firm, shows that growing requirements from the advertising industry are a major factor contributing to a CAGR of 13.16 percent from 2013-2018 for the Global Online Video Platform Market.
Online video platforms are SaaS-based platforms that offer hosting, encoding, and customization services to users. These embedded player platforms are end-to-end tools used to distribute, download, publish, and measure online content for both on-demand and live streaming video.
The market is expected to be valued at US$630.82 million by 2018. The TechNavio report outlines several factors behind this growth, including a major push from ad firms to move their content online.
“Digital media and marketing professionals have increased their expenditure on online video advertisements to attract more consumers, with some companies even reporting an increase of as much as 65 percent on their spending in this sphere,” says Faisal Ghaus, Vice President of TechNavio.
Since consumers in general are spending more time online, they are now more likely to watch online ads than TV commercials. Hence, companies are adopting online video platforms to help with the analysis, uploading, distribution, video content management, and publishing of online video advertisements, says Ghaus.
The TechNavio report also pinpoints a general increase in demand for online videos, rise in use of smartphones and tablets, and growth of the online audience as other factors promoting market growth.
Key Market Vendors Include:
- Brightcove Inc.
- Kaltura Inc.
- Ooyala Inc.
To determine the scenario for these vendors 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.