Further, like heroimage, we want to customize video component with some image and tab. A problem we are facing for this is we don't have base video component like for image. So, what's the way for creating a customized video component?
Use the above mentioned player provided by Lokesh and customize it.
You just need a video component (with any player) and enable the component to get thumbnail images/text/any relevant markup from its dialog and render it in the HTL/JSP.