Analytics Solutions Will Help Monetize Burgeoning Online Video Marketplace
Adopting OVA solutions will help measure effectiveness and identify real-time consumption behavior, finds Frost & Sullivan
MOUNTAIN VIEW, Calif., March 3, 2015 /PRNewswire/ -- The increasing use of Internet protocol (IP) enabled devices has fuelled massive video consumption and, in turn, driven the need for online video analytics (OVA) solutions globally. Publishers, advertisers and service providers have come to the realization that OVA solutions are essential to device effective strategies to monetize from targeted video services.
New analysis from Frost & Sullivan, Global Online Video Analytics Market, finds that the market earned revenues of $189.4 million in 2014 and estimates this to reach $472.0 million by 2020.
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Due to a rapid adoption of over-the-top services (OTT), supported by the proliferation of mobile devices, user-generated online video has grown substantially. As a result, advertisers and publishers have begun to divert their resources to online channels, boosting the prospects of OVA solution providers.
"The demand for premium TV content on online channels has also increased due to the popularity of live global sporting events," said Frost & Sullivan Digital Media Industry Manager Hiral Jasani. "This has highlighted the need to identify real-time consumption behavior and measure the effectiveness of online video and online video advertising by adopting sophisticated OVA solutions."
However, the lack of standardization of measurement metrics offered by OVA platforms, coupled with the diversity of devices and video formats, has led to confusion in the market and prevented these solutions from going mainstream. Instead of taking the risk of investing in third-party OVA solutions, the market has been using home-grown or bespoke solutions.
With no standardization in terms of measuring audience engagement, viewership or quality of online video, the market has become fragmented. As a result, there are only a handful of pure-play OVA solution providers globally.
"The OVA market will remain fragmented, as publishers, advertisers and service providers each try to control their ends of video delivery and claim control of the OVA functionality," noted Jasani. "As video makes up the bulk of online traffic, several big data and Web analytics solutions providers will also compete with these players, further increasing market fragmentation."
In the coming years, publishers will widely adopt the programmatic advertising approach, giving rise to larger ad inventories and driving the need for OVA solutions. OVA solution providers who can cater to this trend and enable publishers to offer viewership guarantees to advertisers will succeed.
Global Online Video Analytics Market is part of the Digital Media (http://www.digitalmedia.frost.com) Growth Partnership Service program. Frost & Sullivan's related studies include: Global Enterprise Content Management Market, Global Enterprise Video Webcasting Solutions Market, Analysis of the Global Learning Management Systems Market, and Global Non-Linear Editing Market. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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Global Online Video Analytics Market
NE1C-70
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Corporate Communications – North America
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SOURCE Frost & Sullivan
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