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Facebook announced the launch of its new embedded video player at a conference on Wednesday morning.

For a change, you will now be able to embed Facebook-hosted videos on your website, breaking the tradition that saw YouTube and Vimeo videos posted on websites almost by default.

Not so long ago, Facebook used to be littered with embedded videos from YouTube, be it home videos shared by users or of events and games by page owners.

Ever since Facebook began ramping up autoplay videos into the News Feed as well as promoting premium video advertising, its share in the online video market has been consistently on the up, much to the chagrin of YouTube.

In December, Facebook users uploaded more videos directly on the site than they posted YouTube videos. In February this year, YouTube lost around 25 per cent share of all Super Super Bowl video views online to Facebook which had garnered a meagre 1 per cent in 2014.

The launch of Facebook's embedded videos will, for the first time, allow users to share videos (that are uploaded directly on Facebook) on the web. This could result in a knock-out punch for YouTube in the next few years if the current trend continues.