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India's OTT video market to expand at 40% CAGR by '20; RecoSense wins F&S award

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MUMBAI: Over-the-top (OTT) video delivery has opened up business opportunities for new entrants as well as existing media companies. Frost & Sullivan’s 2016 Over the Top (OTT) Video Market Update, India, 2016 finds that the OTT video market in India has over 20 market participants and could expand at a CAGR of 40% to 355 million in terms of unique video viewers by 2020. As OTT video delivery becomes imperative for media companies, it is essential to understand the importance of customer engagement with insightful recommendations and content delivery. RecoSense provides a platform that uses automation and can help track user behavior across the Internet. It then interprets content recommendations suitable for a viewer and prolongs user engagement on a site with personalization. It also offers analytics with visualization and a content management system to enable OTT providers realize the efficacy of their services.

RecoSense, an innovative venture providing SaaS-enabled platform for Data Intelligence, has been felicitated with the ‘India OTT Video New Product Innovation Award’ at the 2016 Frost & Sullivan India Best Practices Awards held in Mumbai recently. Its SaaS-enabled platform is built on complex Graph Computing, Analytics, and Machine Learning frameworks that can facilitate efficient personalization and customer engagement for rich media content.

Congratulating RecoSense, Frost & Sullivan Global Innovation Center and Digital Media Practice research director Vidya S. Nath said, “There are three inherent problems that exist for an OTT service provider — offering an attractive video library, which is easily searchable; understanding the behavior and likes of their target audience; and keeping them engaged on their site or application as long as possible. RecoSense’s service helps solve some of these challenges as it offers a customizable platform that helps in effective discovery, personalization of recommendations, and user analytics.”

RecoSense CEO Amith Srinivas said, “RecoSense will leverage this platform to pioneer data intelligent automations for digital content to reach the suitable target users. RecoSense will strengthen the indigenous Knowledge Graph IP and build expertise in the data science areas of personalization, recommendation, and analytics. We are grateful to our customers, our team for their committed efforts, and our investors for their contribution to achieve this milestone and seek continued support from the industry to reach higher goals.”

The award recipient was judged on a variety of parameters that included financial performance rate, addressed unmet needs, key achievements, implementation of best practices, customer service experience, and brand equity. It involved in-depth primary interviews of various industry participants and secondary research conducted by Frost & Sullivan. Frost & Sullivan’s Growth Innovation & Leadership Awards identify companies that exhibit exemplary growth potential, attributed to high quality solutions and superior service capabilities.

RecoSense uses artificial intelligence and machine learning to enable automatic keyword generation, effective meta tagging, and effective recommendation engine. OTT viewership in India is highly fragmented due to diverse and multiple languages and preferences. This trend has boosted the creation and aggregation of a sizable inventory of regional content. RecoSense’s clients are leading companies in the industry, both in India and abroad, providing Video Streaming networks, Digital Publisher networks, YouTube networks, Ad networks, and e-Commerce.

RecoSense offers data intelligent platform for Metadata Generation, User Personalization, Content Recommendation, and Analytics. Given the exponential growth of digital media content across categories of Entertainment, News, Business, Sports, Music, etc.,

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today’s market participants.

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