Press release
Video Processing Platform Market Size Forecasted To Achieve $22.15 Billion By 2029 With Steady Growth
Video Processing Platform
What Is the Video Processing Platform Market Size and Projected Growth Rate?
There has been a significant quick expansion of the video processing platform market in the last few years. The increase is projected to be from $8.96 billion in 2024 to $10.4 billion in 2025, with a 16.1% compound annual growth rate (CAGR). Growth factors from the past can be tied to a rise in disposable income, simpler access to information, rapid acceptance of technology-based products, growing usage of video content for diverse applications, the surge in streaming services, social media, and e-learning.
The market size for the video processing platform is projected to witness massive expansion in the forthcoming years, advancing to $22.15 billion in 2029 with a compound annual growth rate (CAGR) of 20.8%. The anticipated growth in the forecast period can be credited to factors like an extensive reach of internet services, a burgeoning digital content sector, rising focus on real-time and live video streaming, an increase in remote collaboration and video conferencing, and amplified demand for 4k and ultra-high-definition (UHD) video. The forecast period will also see notable trends such as the usage of edge computing for video processing, a shift towards cloud-based solutions for video processing, the creation of low-latency video streaming technologies, progression in video analytics and content recognition, and the introduction of 5g technology for improved video transmission.
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What Are the Major Segments in the Video Processing Platform Market?
The video processing platform market covered in this report is segmented -
1) By Component: Hardware, Platform, Services
2) By Deployment Type: Public Cloud, Private Cloud, Hybrid
3) By Application: Video Upload And Ingestion, Dynamic Ad Insertion, Video Transcoding And Processing, Video Hosting, Content Rendering, Other Applications
4) By Industry: Media And Entertainment, Defense, Government Or Homeland Security, Other Industries
Subsegments:
1) By Hardware: Video Processing Units (VPUs), Video Encoders And Decoders, Storage Devices, Capture Cards
2) By Platform: Cloud-Based Video Processing Platforms, On-Premises Video Processing Solutions, Integrated Video Processing Software
3) By Services: Installation And Setup Services, Maintenance And Support Services, Consulting Services, Training And Education Services
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What Are The Driving Video Processing Platform Market Evolution?
The escalation in the count of online users is anticipated to spur the progression of the video processing platform market throughout the forecast period. The internet has become an integral part of human existence in today's world, with a large segment of society being deeply involved in digital technology. Video service operators can leverage cloud-based video processing platforms, which offer standard functions and multiple methods of monetization. Such systems also facilitate the amalgamation of video-on-demand, multiscreen video infrastructure, television capabilities, and formats. For instance, the National Center for Biotechnology Information, a government agency in the US, revealed in March 2023 that approximately 5.2 billion people, or 66% of the world's population, were active internet users in 2022, with the highest number of such users found in Asia. Consequently, the surge in the number of internet users is boosting the expansion of the video processing platform market.
Which Firms Dominate The Video Processing Platform Market Segments?
Major companies operating in the video processing platform market include Imagine Communications Ltd., MediaKind Pvt. Ltd., Ateme S. A., Kaltura Inc., Vantrix Corporation, Amagi Corporation, Apriorit Inc., BASE Media Cloud, Blazeclan Technologies Pvt. Ltd., Pixel Power Ltd., InPixal, Surf Communications Solutions Ltd., KritiKal Solutions Inc., Morpho Inc., Amazon Web Services Inc., Apple Inc., Cisco Systems Inc., Google LLC, Netflix Inc., Brightcove Inc., Comcast Cable Communications Management LLC, Endavo Media & Communications Inc., Longtail Ad Solutions Inc., MediaMelon Inc., Ooyala Inc., Panopto Inc., SeaChange International, Harmonic Inc., Synamedia Inc., Avid Technology Inc., Evertz Technologies Limited, Edgio Inc., Sparkhouse, Casual Films Limited, Lemonlight Media, VeracityColab
What Trends Are Expected to Dominate the Video Processing Platform Market in the Next 5 Years?
Leading companies in the video processing platform market are prioritizing the development of innovative analytics solutions such as the VX Software Platform. This focus aims to improve content management and provide customized viewing experiences. The VX Software Platform exhibits robust video processing abilities, offering real-time encoding and transcoding capabilities that are integral for top-notch streaming and broadcasting. For illustration, in August 2024, a Norway-based firm named Appear AS, renowned for offering groundbreaking solutions for video transport and streaming in the broadcast and media sectors, introduced the VX Media Processing Software Platform. This platform melds the might of Hardware with the flexibility of the Cloud. The VX open platform by Appear innovates broadcast workflows by providing the flexibility and agility needed for next-gen software production. This platform is compatible with live action contribution across formats like AVC and HEVC and also provides efficient feed distribution through advanced SRT applications. Besides, integration with Prometheus and Grafana promotes real-time system monitoring, enabling broadcasters to instantly adapt and manage their production processes.
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Which Is The Largest Region In The Video Processing Platform Market?
North America was the largest region in the video processing platform market in 2024. The regions covered in the video processing platform market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Video Processing Platform Market?
2. What is the CAGR expected in the Video Processing Platform Market?
3. What Are the Key Innovations Transforming the Video Processing Platform Industry?
4. Which Region Is Leading the Video Processing Platform Market?
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