PUBLISHER: The Business Research Company | PRODUCT CODE: 1465933
PUBLISHER: The Business Research Company | PRODUCT CODE: 1465933
Video processing solutions encompass the utilization of software and hardware technologies to modify, improve, or scrutinize video content, serving diverse purposes such as editing, streaming, and computer vision. These solutions are pivotal in refining visual data for various objectives.
The primary categories of video processing solutions comprise software and services. Software denotes computer programs and applications directing hardware to execute designated tasks, with deployment options including on-premise and cloud. These applications span security and surveillance, streaming and broadcasting, among others, and find application across multiple industries such as media and entertainment, defense, government security, and more.
The video processing solutions market research report is one of a series of new reports from The Business Research Company that provides video processing solutions market statistics, including video processing solutions industry global market size, regional shares, competitors with a video processing solutions market share, detailed video processing solutions market segments, market trends and opportunities, and any further data you may need to thrive in the video processing solutions industry. This video processing solutions market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The video processing solutions market size has grown rapidly in recent years. It will grow from $14.24 billion in 2023 to $16.64 billion in 2024 at a compound annual growth rate (CAGR) of 16.8%. The expansion observed during the historical period can be credited to advancements in video compression, the emergence of streaming services, the widespread use of mobile devices, and the increasing prevalence of virtual and augmented reality.
The video processing solutions market size is expected to see rapid growth in the next few years. It will grow to $30.6 billion in 2028 at a compound annual growth rate (CAGR) of 16.5%. The expansion anticipated in the forecast period is due to interactive live streaming, personalized content delivery, energy-efficient video processing, and the enhanced integration of video processing solutions with augmented intelligence. Key trends expected in this period encompass AI-driven video enhancement, edge AI for video analytics, volumetric video for 3D content, 5G-powered video streaming, and the implementation of blockchain for content security.
The surge in streaming services is projected to drive growth in the market for video processing solutions. Streaming services encompass platforms or apps enabling real-time access to digital media content, such as audio, video, or live broadcasts, over the internet. The escalating demand for streaming services is fueled by the convenience of on-demand content and the shift towards digital entertainment consumption. Video processing solutions play a crucial role in enhancing streaming services by optimizing video quality, minimizing latency, and facilitating adaptive bitrate streaming for a seamless viewer experience. For instance, in November 2023, the Instituto Brasileiro de Geografia e Estatistica (IBGE), a Brazil-based government agency, reported that 43.4% (31.1 million) of households with TVs subscribed to a paid streaming service. Among these subscribers, 95.3% also watched TV channels, including open TV (93.1%) or pay TV (41.5%). In 2022, pay TV was available in 27.7% of households with a TV. The urban rate was 28.8%, while rural areas saw a 2.0% increase (from 17.8% to 19.8%) in households with pay TV, reaching 19.8%. Consequently, the rise of streaming services is propelling the expansion of the video processing solutions market.
Leading companies in the video processing solutions market are actively developing advanced technologies such as communication studios and video streaming solutions to boost their profitability. These technologies aim to deliver a seamless experience for engaging stakeholders both internally and externally and to create a consumer-centric streaming experience for various internal communications purposes, such as onboarding, company-wide updates, and training. For example, in February 2023, Brightcove Inc., a US-based software company, introduced Brightcove Communications Studio, a video-first solution designed to enhance engagement with internal stakeholders for HR and communications professionals. This innovative solution offers a comprehensive range of features and benefits, including content creation, management, and distribution, engagement metrics tracking, and optimization of video delivery across different devices and platforms.
In February 2023, Enghouse Systems Ltd., a Canada-based software and services company, completed the acquisition of Qumu Corporation for $18.0 million. This acquisition aims to integrate Qumu's video technology solutions with Enghouse's video collaboration and streaming products to drive innovation and service quality. Qumu Corporation, based in the US, is a provider of cloud-based enterprise video technology.
Major companies operating in the video processing solutions market are NVIDIA Corporation, Tencent Cloud, Akamai Technologies LLC, Mirion Technologies Inc., Harmonic Inc., SRI International Media Systems Inc., Brightcove Inc., Mux Technologies LLC, Ateme Technologies Corporation, SeaChange Media Solutions Inc, Morpho Solutions Inc., Vantrix Media Solutions Inc., Synamedia Global Services LLC, The MathWorks Innovations Inc., Base Media Cloud Holdings Inc., Apriorit Software Development Company Inc., Imagine Communications Corporation, InPixal Media Technologies Inc., MediaKind Innovations LLC, Surf Communications Solutions Global Inc., Telestream LLC, Bitmovin Innovations Inc, Amagi Broadcasting Solutions LLC, Mediamelon Technologies LLC
North America was the largest region in the video processing solutions market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the video processing solutions market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the video processing solutions market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The video processing solutions market consists of revenues earned by entities by providing services such as video analytics services, video compression as a service (VCaaS), video transcoding services, content protection, and digital rights management (DRM) services. The market value includes the value of related goods sold by the service provider or included within the service offering. The video processing solutions market also includes sales of video analytics platforms, live streaming platforms, video transcoding tools, video conferencing systems, and VR/AR video processing software. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Video Processing Solutions Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on video processing solutions market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for video processing solutions ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The video processing solutions market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.