Media (Video) Processing Solutions Market – Snapshot
The global media (video) processing solutions market is projected to be driven by increasing demand from customers for high-quality videos. Improving infrastructure to deliver high-quality videos, rising need for multi device compatibility videos, increasing spend on digital video advertising, and increased internet accessibility in developing countries contributes to the growth of the media (video) processing solutions market across the world.
Data access for streaming live videos has increased greatly due to advancements in broadband services, enabling viewers to experience improved video quality without any lag in real time. The U.S. Federal Communications Commission (FCC) has implemented a plan to improve Internet access in the U.S., which states that at least 100 million homes in the country should have affordable access to actual speed of 100 Mbps by 2024.
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Moreover, introduction of several streaming media devices such as Google Chromecast (Google Inc.), Apple TV (Apple TV), Slingbox (Sling Media), NVidia Shield (NVIDIA Corporation), and Fire TV (Amazon Inc.), has transformed the viewing experience across mobile devices such as smartphones, tablets, and laptops to a great extent.
Increasing use of mobile TV services has a significant impact on live video. Video service providers have an opportunity to deliver streaming services through mobile phone networks and terrestrial television stations.
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Several opportunities have opened up to increase the revenue of media (video) processing solutions over the years such as growth of live video streaming with increasing number of viewers. Today, increase in live video streaming options where viewers can stream live content from either an online source or a traditional TV package is generating wide-ranging opportunities for consumers who have better control over when they watch, what they watch, and how they watch their favorite content. Demand for live video services is increasing due to significant rise in the number of online users accessing these services. This is attributed to the rising penetration of Internet and smartphones around the world.
Growing adoption of online multimedia content is also one the major reasons driving viewers toward multi-screen or cross screen services. Consumers are focusing on live video services with high-speed network access and multiple connected devices such as tablets and smartphones. Furthermore, live video service providers have an opportunity to enhance their video delivery platforms and to provide cross-screen services through the support of extended devices. For instance, Hotstar is one of the biggest live streaming platforms in India and has around 60 million viewers. Several news channels have also observed a risein their subscriber base.
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The global media (video) processing solutions market has been segmented on the basis of solutions, components, enterprise size, content type, end-user, and region. The solution segment has been classified into platform and services. Platform segment has been further classified into server based, cloud based, and hybrid. The cloud based platform has been segmented into public and private cloud.The components segment is categorized into video upload and ingestion, dynamic ad insertion (real-time), video transcoding and processing, video hosting and content rendering (digital video effects, logo and graphics insertion).
In terms of region, Asia Pacific is projected to lead the global media (video) processing solutions market during the forecast period. Asia Pacific is expected to dominate the global media (video) processing solutions market primarily due to increased internet accessibility particularly in China, India, Australia, and Japan and the increased content generation from Bollywood. The media (video) processing solutions market in South America is anticipated to grow at a rapid pace, followed by Europe. North America is expected to be the largest market for media (video) processing solutions.
