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Online Video Vector Entices Tech Giants
Boston, MA - June 9, 2010 – The global online video platform (OVP) industry—the logistics providers for online video sites—has grown into a substantial business sector in a short time and already generates hundreds of millions of dollars a year, according to the new Strategy Analytics report, “Online Video Platforms: Battling for Supremacy in a Fiercely Competitive Market.” This report provides comprehensive assessment and analysis of the rapidly growing OVP industry and its position in the digital media delivery value chain. Strategy Analytics predicts that this sector will generate more than $1 billion in five years.
“The online video platform industry is benefiting from the explosive growth in online video users,” said Jia Wu, Analyst at Strategy Analytics Digital Consumer Practice and author of the report. “More than half of the US population already watches online video on a regular basis. This industry is set for continued rapid growth in the coming years”.
“As tech giants such as Cisco, Microsoft and others increase their efforts in the fast growing OVP market, incumbent market leaders, such as Brightcove and thePlatform, will come under considerable pressure,” added Martin Olausson, Director of Digital Media Research at Strategy Analytics. “The key to long-term prosperity for OVPs will be the ability to offer flexible and increasingly sophisticated solutions to a progressively divergent set of customer needs.”
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