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Introduction to the Enterprise Video Market
 

Introduction to the Enterprise Video Market

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Whitepaper by Mukul Krishna of Frost & Sullivan. Enterprise video is no longer seen as "nice to have" and has began establishing itself as an integral part of everyday business. This exclusive ...

Whitepaper by Mukul Krishna of Frost & Sullivan. Enterprise video is no longer seen as "nice to have" and has began establishing itself as an integral part of everyday business. This exclusive mini-whitepaper from Frost & Sullivan provides a glimpse into enterprise video market and growth projections, common challenges organizations face with managing and distributing video content, and dives into the value proposition of video asset management technologies to increase the use and effectiveness of video assets. Are you equipped to manage and repurpose video content quickly and easily?

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    Introduction to the Enterprise Video Market Introduction to the Enterprise Video Market Document Transcript

    • I n t ro du c t i o n to t h e E n t e r p r i s e Vi d e o M a r k e t b y M u k u l K r i s h n a - G l o b a l D i r e c t o r, D i g i t a l M e d i a P r a c t i c e A Frost & Sullivan White Paper
    • INTRODUCTION Enterprise video usage has become very conspicuous over the past few years. The ability to easily and cost effectively reach out to a large audience through video webcasting and conferencing has been a major catalyst in getting enterprise markets to use video. Enterprise video is no longer seen as “nice to have” and has now started establishing itself as an integral part of everyday business. With an ever expanding base of organizations that depend on video webcasting and conferencing for communication, it is now possible for video to be used in a multitude of different ways within the enterprise. These include marketing communications, emergency broadcasts, corporate training and corporate communications to name a few. Though the market for technology solutions to manage enterprise video assets is still nascent, it has already started posting impressive growth figures. This growth has materialized because of the increasing volume of enterprise video and thus an ever growing market demand for solutions to help manage and integrate video content within organizational workflows. At Frost & Sullivan we are currently analyzing numbers for 2008 for the upcoming research on the Global Digital Asset Management market. Based on preliminary estimates for 2008 that have started coming in, the nascent enterprise video asset management market is expected to have earned an impressive $ 75 million globally in 2008 – despite the reduction in spending due to the global economic downturn. This reflects roughly 15 odd percent of the overall global DAM market. Though we are looking at demand remaining tight with long sales cycles through the first half of 2009, the later half will start seeing increased sales and sales pipelines building up for 2010. The reasons being largely two fold: a) As mentioned, enterprise video is now getting ubiquitous across organizations and is necessary to reach the largest audience necessary in a cost-effective manner and on-demand, thus creating an increasing need to manage an ever growing enterprise video repository b) Corporate compliance and regulation, especially within financial services and healthcare markets, has created an even greater need for content management, especially for video based communication Frost & Sullivan 2
    • Despite the hiccups this market is currently encountering due to the economic slowdown, it is expected to grow to close to a third of a billion by 2015 at a 20 + % CAGR. CHALLENGES FACING ORGANIZATIONS The rapid proliferation of video in the enterprise and resulting need to manage and distribute video assets has led corporate entities to encounter significant challenges. With rising travel costs, the cost of lost or misplaced work, the expense and risk of maintaining a physical archive, corporate compliance and reporting, and the increased time to market associated with analog assets, many organizations have started looking at solutions to better manage their video assets. CONTENT CREATION IS COSTLY AND SILOED The challenges faced by organizations in managing video assets typically start before the video content is even created. Many organizations are unaware of where and how their video content gets created. Various departments from product development and marketing to human resources among others have started creating video in greater frequency. Since these departments are siloed and in most cases have their own individual budgets and approval processes for video asset creation, there is no centralized process to let business users know how many video assets are there or if video content creation Frost & Sullivan 3
    • is being duplicated across departments and geographic locations – adding significantly to the overall cost structure since video production is expensive. Compounding this problem is the most ubiquitous video creation activity across organizations today – video conferencing. Vast amounts of video content are created through video conferencing. Most business professionals have started taking video conferencing for granted and remain oblivious about the ability of recording video conferences. Even when business users are aware of video conference recording capabilities, little thought is given to where those video assets reside after they are recorded. While creating and/or repurposing video content many of the third party applications required such as transcoders and nonlinear editing systems typically are not part of the workflow since the applications or content or both are not integrated with the overall organizational IT workflow. This makes content creation more resource intensive and cumbersome. Such siloed business environments and decentralized departmental assets create needless redundancy while also making video assets hard to create and manage. THE COST OF LOST OR MISPLACED CONTENT ADDS UP The cost of lost or misplaced work has become a major cause of concern for corporations as the cost effectiveness associated with reusing and repurposing existing video assets has become clear. The cost of lost or misplaced video content can be huge and a resource-drain especially when assets need to be constantly repurposed. Large amounts of irreplaceable time as well as resources are wasted by organizations trying to find assets that have been carelessly misplaced in storage silos across departments. Many times the missing content is never found when needed and it has to be recreated - adding a further cost burden over the time and resources already eaten-up looking for the content. Such lost and misplaced assets are rarely secured which exposes the organization to an entire new set of challenges since the video content could have sensitive information that could be misused. TECHNOLOGY TO THE RESCUE Since enterprise video is now largely in digital formats, deployment of a central and easily searchable repository can help organizations overcome these challenges. By recording video from an endpoint (digital production cameras and video conferencing equipment) to create the content and adding user defined metadata fields, it is now possible to create a single “go-to” repository for all video content – the content does not have to languish in siloed systems anymore. Frost & Sullivan 4
    • THE VALUE PROPOSITION The value proposition of managing and unifying enterprise video through the lifecycle is a strong business driver. Such solutions add value to video content by creating a process to index, search and retrieve the asset. This is a great time saver when it comes to production time and in turn reduces overhead costs significantly as well as enabling repurposing of video content. Further, the ability to search, view, browse, track, collaborate, and repurpose video content from a central repository along with deep integration with other third party systems such as nonlinear editing systems and video transcoders within the workflow has become a key selling point for customers looking at seamlessly and efficiently managing and transforming their video assets for monetization. Conditional access and version control also provides a level of content security which is not only important from a workflow perspective but also when seen from the perspective of corporate compliance and governance. With video asset management solutions gaining market awareness and acceptance, enterprises can now benefit from: Faster and easier repurposing and publishing of video which reduces costs Have greater control on its video assets through secure centralization, authentication, conditional access and reporting Uniform messaging to both internal and external stakeholders Devices that enable the recording of video conferences for future playback are now readily available. Using these devices important conferences and meetings can be captured at the source for storage, archival and viewing at a later time. Such a device coupled with a video content management system is a wining combination to enable enterprise video. As we move forward the quantity of enterprise video is only going to keep getting larger as video communication firmly entrenches itself as a killer application to facilitate cost effective audio-visual communication regardless of the audience size. Video proliferation in the enterprise is here to stay and the biggest challenge that organizations need to face is the ability to secure, manage, repurpose and distribute this never ending content stream in a robust and scalable environment – anytime, anywhere and on-demand. Frost & Sullivan 5
    • Silicon Valley 331 E. Evelyn Ave. Suite 100 Mountain View, CA 94041 Tel 650.475.4500 Fax 650.475.1570 San Antonio 7550 West Interstate 10, Suite 400, San Antonio, Texas 78229-5616 Tel 210.348.1000 Fax 210.348.1003 C O N TAC T London US 4, Grosvenor Gardens, London SWIW ODH,UK Tel 44(0)20 7730 3438 Fax 44(0)20 7730 3343 Beijing Bengaluru 877.GoFrost myfrost@frost.com Bogotá http://www.frost.com Buenos Aires Cape Town Chennai Delhi Dubai Frankfurt Kolkata Kuala Lumpur London Melbourne Mexico City Milan Mumbai New York Oxford Paris San Antonio São Paulo Seoul Shanghai Silicon Valley ABOUT FROST & SULLIVAN Singapore Frost & Sullivan, the Growth Partnership Company, partners with clients to accelerate their Sydney growth. The company's TEAM Research, Growth Consulting, and Growth Team Membership™ empower clients to create a growth-focused culture that generates, evaluates, and implements Tel Aviv effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering Tokyo with Global 1000 companies, emerging businesses, and the investment community from more Toronto than 30 offices on six continents. For more information about Frost & Sullivan’s Growth Partnership Services, visit http://www.frost.com. Warsaw