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. 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.
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.
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.
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.
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.
Based on Component, the market is segmented into Platform, Hardware and Services. The Platform market dominated the Global Video Processing Platform Market by Component 2020. The Hardware market is showcasing a CAGR of 15.5% during (2021 - 2027). Additionally, The Services market is estimated to grow at the highest CAGR of 17.8% during (2021 - 2027).
Based on Application, the market is segmented into Video Upload & Ingestion, Video Transcoding & Processing, Dynamic Ad Insertion, Video Hosting and Content Rendering & Others. Companies can make video content with more flexibility through video upload and ingestion. Along with that, it also assists companies to transfer, capture, and store video files in a better and systematic manner. Further, it helps in encoding and transcoding video streams, indexing video to increase the convenience in searching, creating thumbnails, processing images & slides, and routing video assets. Additionally, video upload & ingestion helps in high-speed video uploading and basic uploading for content managers.
Based on Content Type, the market is segmented into Real-Time/Live and On-Demand. The Real-Time/Live market dominated the Global Video Processing Platform Market by Content Type 2020, growing at a CAGR of 15.1 % during the forecast period. Additionally, The On-Demand market is expected to witness a CAGR of 17.1% during (2021 - 2027).
Based on End User, the market is segmented into TV Broadcasters, Network Operators and Content Providers. TV broadcasters segment acquired the highest market share in 2020. It is because TV broadcasters share audio and video content to several distributed audiences through electronic mediums utilizing one-to-many models. Conventional broadcasting was passive in nature under which a pre-decided schedule was then followed.
Based on Vertical, the market is segmented into Media & Entertainment, Manufacturing, BFSI, IT & Telecom, Education, Retail & Consumer Goods, Healthcare & Life Sciences and Others. One of the major trends in the broadcasting sector is that the availability of media content on any connected device. The significant expansion in the video traffic from VoD services like Netflix and Amazon Prime, live broadcast of entertainment & infotainment outlets, video conferencing, and the latest services in the social media space are fueling the demand for high-quality video processing platforms in the market.
| Report Attribute | Details |
|---|---|
| Market size value in 2020 | USD 4.8 Billion |
| Market size forecast in 2027 | USD 13.9 Billion |
| Base Year | 2020 |
| Historical Period | 2017 to 2019 |
| Forecast Period | 2021 to 2027 |
| Revenue Growth Rate | CAGR of 15.9% from 2021 to 2027 |
| Number of Pages | 363 |
| Number of Tables | 583 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Component, Application, Content Type, End User, Vertical, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America is estimated to emerge as the leading region in the video processing platform market over the forecast period. This growth is attributed to the increasing focus of the SMEs on the development of innovative video processing platforms that are combined with technological advancements like real-time advertising, video streaming, Artificial Intelligence (AI), video analytics, and Machine Learning (ML).
Free Valuable Insights: Global Video Processing Platform Market size to reach USD 13.9 Billion by 2027
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Akamai Technologies, Inc., NVIDIA Corporation, Qumu Corporation, SeaChange International, Inc., Ateme S.A., MediaKind, JW Player, Inc., Kaltura, Inc., MediaMelon, Inc., and Imagine Communications, Inc. (Harris Broadcast).
By Component
By Application
By Content Type
By End User
By Vertical
By Geography
The global video processing platform market size is expected to reach $13.9 billion by 2027.
The growing popularity of OTT platforms are driving the market in coming years, however, the huge cost of content creation and the growing concerns regarding content piracy have limited the growth of the market.
Akamai Technologies, Inc., NVIDIA Corporation, Qumu Corporation, SeaChange International, Inc., Ateme S.A., MediaKind, JW Player, Inc., Kaltura, Inc., MediaMelon, Inc., and Imagine Communications, Inc. (Harris Broadcast).
The expected CAGR of the video processing platform market is 15.9% from 2021 to 2027.
Media and entertainment vertical is estimated to garner the highest market share over the forecast period. With the increasing advancements in media technologies, the media & entertainment industry is constantly developing across the globe.
The Asia Pacific region would display a fastest growth rate over the forecast period. Factors such as the proliferation of smart devices, positive economic growth, high-speed internet connectivity, and digital transformation are responsible for the growth of the regional market.
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