Live Video Streaming: the Next Byod for the Enteprise
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LIVE VIDEO STREAMING: THE NEXT BYOD FOR THE ENTEPRISE A Frost & Sullivan White Paper www.frost.com 50 Years of Growth, Innovation and Leadership Frost & Sullivan Live Video Streaming Crashes the Enterprise Video Party ............................................................3 Growth of Enterprise Video Streaming ......................................................................................3 Enterprise Video Growth Drivers ................................................................................................5 The Modern Workplace and the Rise of the “Visual” Workforce ................................................6 Roadblocks to Enterprise-Wide EVP Deployments ......................................................................9 Technology to the Rescue ..........................................................................................................9 VBrick Case Study: Leading US Medical Treatment and Research Facility ..................................11 The Last Word ...........................................................................................................................13 TABLE OF CONTENTS Live Video Streaming: The Next BYOD For The Enteprise LIVE VIDEO STREAMING CRASHES dynamics, the growing number of millennials in THE ENTERPRISE VIDEO PARTY the workforce, and the increasing instances of Live streaming seems to be all over the news these telecommuting, the importance of using this engagement days. From Facebook Live to YouTube Live, all it takes technique to attract, train, and retain talent cannot is a smartphone to broadcast a live message to the be overstated. world. Like smartphones before it, live streaming is Enterprise video enables large companies that have the latest consumer technology making its way into employees distributed across multiple geographies and the workplace—whether the workplace is ready or time zones to truly function as global organizations that not—and the early, colorful examples of it are making can work and communicate seamlessly. Enterprise video headlines. Business leaders, from the CEO to marketing platforms are employed to conduct all-hands meetings to IT to network operations, are beginning to realize and CEO town halls, make recruitment and onboarding live video streaming’s power to dramatically impact processes more effective, facilitate knowledge brand, reputation, mission-critical applications, and management, drive continuous learning opportunities, network infrastructure. deliver compliance and sales trainings, and power enterprise-wide exchange of ideas. Overwhelmingly, In this whitepaper, we will take a look at the current video is also the preferred means of communication trends that show how live streaming video changes with external stakeholders such as suppliers, partners, the workplace and what successful companies are shareholders, and existing and prospective customers, doing to embrace its potential to galvanize employee driving digital marketing efforts and investor relations. commitment and to inspire global workforces with a common shared culture and purpose. Consequently, video has become the fastest growing content type within the enterprise, with a typical GROWTH OF ENTERPRISE VIDEO employee watching over eight hours of work-related STREAMING video content per month. Before the live streaming boom, the enterprise video streaming train was already rolling with its Frost & Sullivan research routinely finds that large growing adoption in enterprises of all sizes across the enterprises produce more video than media and world. Before enterprise streaming video, corporate entertainment organizations. communications were marked with a certain sameness. Mostly static and bland in nature, they lacked originality For instance, we found that a global fast moving and despite their best efforts, offered limited scope for consumer goods (FMCG) company produced well innovation and engagement. Video, which is multi-faceted over 25,000 hours of video in 2015. During the same in its nature, adds a personal dimension and a time period, all of Hollywood combined released 300 much-needed touch of authenticity to everyday titles amounting to a total of between 600 and 900 enterprise communications. hours of video. This also validates Cisco’s 2016 Visual Video has allowed employees to infuse their own Networking Index, which finds that the increased particular brand of distinction to engage and captivate adoption of advanced video communications by their audiences through interesting and interactive enterprises is expected to cause business IP traffic to presentation formats. With changing workplace double between 2015 and 2020. All rights reserved © 2017 Frost & Sullivan 3 Live Video Streaming: The Next BYOD For The Enteprise Increased Adoption of Enterprise Advanced Video Communications Advanced enterprise video communications is expected to cause business IP traffic to double between 2015 and 2020. Source: Frost & Sullivan This phenomenal growth in enterprise video is driven companies that were historically focused on media and by the adoption of both live and on-demand enterprise entertainment clients are increasingly exploring the video by SMBs and large enterprises alike. These enterprise opportunity. organizations are looking to better communicate, According to Frost & Sullivan’s analysis, the total collaborate, educate, and sell while shortening addressable market for enterprise video time-to-market, driving down costs, enhancing customer service, improving brand recognition, and growing the solutions in 2016 stands at a whopping top-line. Inside these organizations, enterprise video $13.98 billion USD, which includes publicly usage is fueled not only from corporate communications, listed enterprises and SMBs. HR, sales, and learning and development teams that leverage Enterprise Video Platforms (EVPs) to create The fact that only a meager 2.4% of this total market is and distribute content to internal stakeholders. Video is currently being served is an indicator of the tremendous also utilized by marketers and PR teams to fuel the Web potential of the enterprise video market in the years properties of such enterprises, increase brand awareness to come. through public relations campaigns, educate the target As video in the context of the enterprise is quickly gaining market through webinars, and to aid the sales process popularity, enterprise video solutions, in some form, have through product videos. Every multinational company and become a table-stakes requirement and IT departments an increasing number of SMBs have reorganized their IT are getting better at measuring the quantitative and priorities to include enterprise video. Not surprisingly, qualitative return on investment (ROI) realized from the market for EVPs is growing at an impressive CAGR of solution deployments. Enterprise video initiatives close to 20% through to 2023. continue to prove their worth and are increasingly a prominent reason behind improving productivity, driving cost, and Recognizing the enterprise video opportunity and its saving time, and creating a more agile and engaged workforce. potential over the next decade, online video platform 4 All rights reserved © 2017 Frost & Sullivan Live Video Streaming: The Next BYOD For The Enteprise In this paper, we will examine the reasons behind the Across every major industry vertical, enterprise continuous and rapid growth of enterprise video and how video continues to become more pervasively used. the live video streaming boom will significantly accelerate According to Frost & Sullivan research, financial its growth. We will also discuss the value of an enterprise-wide services firms account for close to 15% of total video strategy and the critical role of an end-to-end EVP market revenue and form the largest vertical for harnessing video’s potential and avoiding its often adopters of enterprise video solutions. In this heavily unanticipated pitfalls. regulated sector (major commercial banks, insurance companies, investment banks, brokerage firms, mutual ENTERPRISE VIDEO GROWTH funds, and buyer-side institutions), compliance training DRIVERS requirements drive large amounts of enterprise video Frost & Sullivan defines an EVP as a complete end-to-end usage. Business and technology services firms and solution that enables enterprises to ingest, transcode, store, healthcare organizations follow in the second and manage, protect, and publish both live and on-demand video third spot. In the healthcare industry, video in surgical for internal use. By definition, we do not include the use of suites and hospital rooms is used to enhance training video by marketing departments for B2C communications, and knowledge-sharing initiatives. At mid-sized fully managed webcasting service offerings, lecture capture and large businesses and technology services firms, solutions used by educational institutions, or solutions enterprise video drives corporate communication, employed by the media and entertainment industry where training, and employee town halls. Lifesciences video is directly tied to monetization and revenue. companies utilize video to collaborate on clinical Accounting for more than two-thirds of market revenue, large development, trials, and drug commercialization. enterprises (especially those headquartered in North America EVP deployments are also becoming increasingly and Western Europe) lead the way for enterprise video adoption. common in industries undergoing financial downturns However, their share