New research suggests the global online video platform market will grow at a CAGR of 13% to 2018 as the demand for online video and for analytics that help measure the consumption and engagement of videos continues to accelerate.
The growth in online video popularity, said Research and Markets, in its report, “Global Online Video Platform Market 2014-2018,” is a major driver that encourages advertisers, advertising agencies, media buying agencies, and publishers to take an interest in online video platforms. R&M said online videos help brand marketers compete against each other and also allows brands to target a large audience. Online videos also help educational institutes drive distance-learning programs.
R&M said demand is also increasing for online video analytics to track the number of views, video viewing rate, drop-off rates, and geographic distribution, in real time. These analytics solutions provide actionable insights that can be used by enterprises and video publishers to manage video content.
Analytics are serving as the backbone for interactive online and mobile videos, enabling enterprises to track marketing campaign performance up to the level of a single buyer.
The reports points out that a major challenge facing publishers is the ability to integrate the online video platform with cell phones, desktop computers, and social media. They need to provide operational and customer support and an option for consumers to post issues faced during use.