Video technology company Linius Technologies (ASX: LNU) has delivered its proprietary technology to the public as part of a software-as-a-service (SaaS) platform called Linius Video Services (LVS).
Linius says it has “invented and patented” the Video Virtualization Engine (VVE) – a method for video content to become “virtualised” and, therefore, searchable. The VVE is currently being deployed on Amazon Web Services, Microsoft Azure and IBM Cloud which Linius believes is only the first step of this powerful technology.
Amazon, Microsoft and IBM are investing heavily in virtualising video-related services and video content archives in order to reduce the pressure on finite cloud-storage capacities. Video content is being created and uploaded at a rapid pace across multiple online platforms which it makes organising video data a crucial milestone.
“It is arguably the biggest battle on the internet, given that video accounts for nearly 80% of internet traffic,” according to Linius.
The company states that LVS is the only cloud-based solution that transforms static video into interactive intelligent content with the help of its VVE technology.
Linius says it has developed a system to expose the data that makes up a video file, which makes video “as flexible as all other forms of data”. The tech company believes that accessing data within the video file is the “missing link” for video cloud service providers.
Global search market
According to BCC Research, the global SaaS market for business applications will grow from US$44.4 billion in 2017 to US$95 billion by 2022 – a compound annual growth rate of 16.4%.
Another research firm, Gartner, predicts that the overall public cloud services market will grow 21.4% this year, climbing from US$153.5 billion in 2017 to US$186.4 billion in 2018.
Linius is keen to establish a foothold in this growing market and has developed a technology platform to do so.
One of the platform’s leading features expected to generate significant customer interest is an embeddable “Search Widget”, enabling organisations to deliver granular video search and “hyper-personalized content experiences” in a wide spectrum of commercial applications.
“The commercial launch of LVS is a critical step towards achieving our goal of scaling rapidly and making the world’s video accessible as data,” said Chris Richardson, CEO of Linius Technologies.
“Organisations and individuals across all video-rich market sectors can now instantly access our video virtualization technology and unleash the value of their video assets,” added Mr Richardson.
The prime benefit of LVS is the ability to search through video content as if it was text, thereby making video content more accessible. Linius has developed LVS for it be made available directly to customers and says that anybody can create an LVS account and deploy its VVE via a suite of APIs.
With respect to commercial viability, Linius said that each LVS account will be charged monthly via credit card in US dollars, based on the number of video assets virtualised and API calls made. Revenue estimates are also thin on the ground for the time being, but Linius says that revenues will be generated depending on the take-up of the service.
The company’s target audience includes businesses with extensive video archives, video content developers and system integrators that are developing new services for their clients.
The amount of video content now being produced continues to grow year-on-year with many companies looking to implement measures that can give early adopters of video search an edge in the market.
Early adopters of VVE technology have included the likes of Amazon, Microsoft and IBM – companies that provide millions of people with video content each day and are therefore interested to make search indexing and cataloguing more straightforward.
“Linius has commercially validated its video virtualisation technology through direct deals with the likes of Newstag; taken replicable solutions to market with channel partners such as MediaAMP; and engaged major cloud providers including Amazon Web Services, Microsoft Azure and IBM Cloud,” said Mr Richardson.
“With enormous growth in the global SaaS market, now is the right time for Linius to capitalise on that demand with the LVS platform,” he added.
Today’s news helped Linius shares to gain over 6% in morning trade and currently trading at $0.069 per share.