Global Video Processing Platform Market Insights and Opportunity Forecast, 2028 - Ongoing Digital Transformation, Rise in Adoption of Streaming Services
DUBLIN, Aug. 22, 2023 /PRNewswire/ -- The "Video Processing Platform Market by Component (Hardware, Platform, Services), Application (Video Upload & Ingestion, Dynamic Ad Insertion, Video Transcoding & Processing, Video Hosting), Content Type, Vertical and Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global video processing platform market is set for remarkable expansion, predicted to surge from USD 7.6 billion in 2023 to USD 13.5 billion by 2028, with a robust CAGR of 12.1%. This growth is propelled by the demand for improved online education and video streaming services. However, the integration of these platforms with existing systems presents a hurdle.
This market study scrutinizes various segments, estimating growth potential across components, applications, content types, verticals, and regions. A competitive analysis spotlights industry players like Akamai Technologies, MediaKind, and Imagine Communications, revealing their strategies, product portfolios, and recent developments. Amidst this evolution, the industry seeks to navigate challenges while fostering innovation.
As per content type, the on-demand segment is projected to witness a higher CAGR during the forecast period.
With on-demand video, users have the freedom to choose and watch their preferred videos on their TVs, computers, or smart devices. This platform offers a wide range of content, giving users the ability to pick and choose what they want to watch. Video-on-demand (VOD) platforms host and provide pre-recorded videos for on-demand consumption. They offer services such as video ingestion, storage, content organization, metadata management, transcoding, and content delivery. These platforms come equipped with features like personalized recommendations, user authentication, and monetization options such as pay-per-view or subscription models.
On-demand video content allows viewers to access video content immediately via their PCs or TVs. This content spans various domains, including sports, entertainment, educational programs, and feature films, and can be consumed on TVs, computers, smartphones, and advanced digital media devices, both on the cloud and on-premises. One of the significant benefits of on-demand video services is that content remains available for months or even years, enabling a broader audience reach. Archived content can also be accessed later for other purposes, such as lead generation for specific events.
As per vertical, the education vertical to hold second largest market share in 2023.
Recently, there has been a significant increase in the demand for video processing platforms in the education sector. This surge is due to various changes and adaptations made within the industry. The consumption of video content, including live classes, educational videos, and educational broadcasting, has skyrocketed. Therefore, there is a need for a strong video processing platform that can handle the load and fulfill diverse video processing requirements. Video is an increasingly popular medium in education, being widely used in universities, middle schools, businesses, and online courses, and is highly effective.
According to a survey conducted by Kaltura, a significant majority of respondents (88%) believe that video has a positive impact on student achievement. Live streaming and on-demand video offer numerous advantages to students, such as next-generation digital learning and collaborative education through digital classrooms. Video processing platforms are designed to meet the diverse needs of the education sector, offering processing capabilities for live video and video-on-demand facilities. These platforms are highly flexible and scalable, providing an all-in-one solution for all video processing requirements.
As per region, the Middle East & Africa region is projected to witness the second highest CAGR during the forecast period.
The Middle East & Africa region region has seen a significant improvement in internet infrastructure thanks to technological advancements, resulting in increased connectivity and higher broadband speeds. As a result, the region has experienced a surge in mobile connectivity and smartphone usage, leading to a higher demand for video content on mobile devices. Governments and organizations in the region are actively promoting digital transformation initiatives, emphasizing technological innovation and ICT developments.
These initiatives encourage the adoption of advanced video processing platforms as part of a broader digital strategy to enhance various sectors such as media and entertainment, education, e-commerce, and more. Key countries like the UAE, KSA, South Africa, Qatar, Kuwait, Oman, and Turkey are taking measures to encourage investment in broadband infrastructure, which would ultimately enhance the penetration and quality of video processing platforms.
Premium Insights
- Ongoing Digital Transformation and Rise in Adoption of Streaming Services to Drive Growth of Video Processing Platform Market
- Platform Segment Expected to Account for Largest Market Share During Forecast Period
- Video Upload & Ingestion Application to Account for Largest Market Share During Forecast Period
- Real-Time/Live Segment to Account for Larger Market Share During Forecast Period
- Media & Entertainment Vertical to Account for Largest Market Share During Forecast Period
- Asia-Pacific to Emerge as Best Market for Investment in Next Five Years
Market Dynamics
- Drivers
- Increase in Demand for Video Content Across Industries
- Advancements in Video Compression Technologies to Manage Video Traffic
- Need for Distribution of Video Content Across Multiple Channels and Platforms
- Growing Mobile Video Consumption Through Social Media Platforms
- Restraints
- Cost of Implementation of Video Processing Platform Hindering Market Growth
- Opportunities
- Growing Adoption of Edge Computing Infrastructure for Real-Time Data Processing
- Rise in Online Education and E-Learning to Improve Learning Experience
- Rising Need for Video Streaming Services With Growth in Online Video Consumption
- Challenges
- Poor Internet Service Degrading Video Quality
- Integrating Video Processing Platforms With Existing Systems
Case Study Analysis
- Tennis Channel Launched 24-Hour Fast Channel With Amagi Video Processing Solutions
- Mediamelon Helped A+E Networks Capture and Understand Video Delivery and Advertising Insertion Data
- Fubotv Brought Live Sports to Global Customers With Bitmovin Video Infrastructure
- Air Force Association Used Vidyo's Video Collaboration Technology to Collaborate With Its Remote Volunteer Base and Employees to Conduct Meetings
- Mid-State Technical College Achieved Hybrid Learning Success Through Panopto Video Solutions
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview and Industry Trends
6 Video Processing Platform Market, by Component
7 Video Processing Platform Market, by Application
8 Video Processing Platform Market, by Content Type
9 Video Processing Platform Market, by Vertical
10 Video Processing Platform Market, by Region
11 Competitive Landscape
Companies Profiled
- Key Players
- Akamai Technologies
- Imagine Communications
- MediaKind
- Harmonic
- Synamedia
- Avid Technology
- Evertz
- Edgio
- Brightcove
- AWS Elemental
- Other Players
- Kaltura
- Haivision
- Telestream
- NVIDIA
- ATEME
- Wowza Media Systems
- SeaChange
- Mux
- Bitmovin
- Amagi
- Panopto
- SSIMWAVE
- MediaMelon
- Vantrix
- M2A Media
- Pixel Power
- Inpixal
- Beamr
- Lightcast.com
- Base
For more information about this report visit https://www.researchandmarkets.com/r/dtts52
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