DUBLIN--(BUSINESS WIRE)--The "Global Video Processing Platform Market By Component, By Application, By Content Type, By End User, By Vertical, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" report has been added to ResearchAndMarkets.com's offering.
The Global Video Processing Platform Market size is expected to reach $13.9 billion by 2027, rising at a market growth of 15.9% CAGR during the forecast period.
Companies Mentioned
- Akamai Technologies, Inc.
- NVIDIA Corporation
- Qumu Corporation
- SeaChange International, Inc.
- Ateme S.A.
- MediaKind
- JW Player, Inc.
- Kaltura, Inc.
- MediaMelon, Inc.
- Imagine Communications, Inc. (Harris Broadcast)
Video processing is the integration of adaptive bitrate (ABR) packaging, ultra-high-density transcoding, efficient IP conversion, encryption & streaming with a virtualized and modular solution. This integration makes it a flexible and cost-efficient method to provide customers with advanced live streaming and live-to-VoD (video on demand) multiscreen services, which assists in enhancing customer satisfaction and loyalty. There are numerous SMEs and enterprises that are majorly implementing cloud-based video processing solutions that can provide higher flexibility and robustness in the service.
Moreover, a cloud-based video processing platform refers to a solution that provides standardized capabilities and several monetization models for the video service providers. This platform also assists in combining capabilities & models with video-on-demand, multiscreen video infrastructure, and television. In addition, there are numerous cloud-based video processing & delivery platform providers that deliver solutions which can be implemented on various over-the-top (OTT) devices and mobile platforms. Additionally, these platforms allow video service providers to offer customized video experiences, preference settings, lineup management, parental control, multilingual selection, and other features to their customers.
The growing demand for high-quality videos, the increasing requirement for transcoding to provide videos to more end-users, and multi-device compatible video needs are among the key aspects fueling the growth of the video processing platform market. In addition, several mid-sized players operating in the video processing platform market which are providing solutions to SMEs with more advanced capabilities, which increases the competition in the market.
COVID-19 Impact Analysis
The outbreak of the pandemic has created the need to maintain the safety of the employees across different business domains. Due to this, many organizations have changed their policies and regulations. The major reason for the business disruption was the imposition of various restrictions like the travel ban and complete or partial lockdown. The travel ban and social distancing norms have compelled companies to transform their existing ways of functioning and reconsider operational options.
Market Growth Factors:
Rising requirement for transcoding to provide videos
The process of compressing video files with minimal quality loss in order to showcase information utilizing low data is known as transcoding. Video transcoding online refers to converting any video file from one format to a compressed file to make sure that users can stream content without facing any buffering and at the best quality. By using this technique in video processing, companies can change the format of any video or can reformat these video files. Through transcoding, enterprises can eliminate the format and bitrate issues.
The growing popularity of OTT platforms
OTT platforms like Netflix and Amazon Prime are gaining more traction among the population across the globe, which is creating demand for video processing platforms in the market. In addition, the increasing demand for high-quality video content by the audience is motivating these platforms to introduce more video content on their platform and thus, contributing to the growth of the video processing platform market during the forecast period.
Market Restraining Factor:
The huge cost of content creation and the growing concerns regarding content piracy
There is a constant increase in the demand for exclusive video content, which is motivating companies to spend more on numerous phases of video processing to improve their video creation process. One of the major problems faced by video content creators is the duplication of their video content across various regions and verticals. These kinds of problems increase the total cost of the content for the companies. The piracy of video content is constantly increasing and a pressing concern among the enterprises across the globe, which is further hampering the demand for video processing platforms around the world.
Market Segments Covered in the Report:
By Component
- Platform
- Hardware
- Services
By Application
- Video Upload & Ingestion
- Video Transcoding & Processing
- Dynamic Ad Insertion
- Video Hosting
- Content Rendering & Others
By Content Type
- Real-Time/Live
- On-Demand
By End User
- TV Broadcasters
- Network Operators
- Content Providers
By Vertical
- Media & Entertainment
- Manufacturing
- BFSI, IT & Telecom
- Education
- Retail & Consumer Goods
- Healthcare & Life Sciences
- Others
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
For more information about this report visit https://www.researchandmarkets.com/r/i5hwfq
