Video Processing Platform Market: Current Analysis and Forecast (2021-2027)

Video Processing Platform Market: Current Analysis and Forecast (2021-2027)

The global video processing platform market is expected to register a CAGR of around 17% over the period of 2021-2027. The global video processing platform market is experiencing an uplift on account of the growing popularity of OTT platforms along with the increasing demand for high-quality video content. Video processing can be defined as analyzing and understanding the content of the video. It is an integral part of various technologies such as video surveillance, robotics, multimedia, etc. Moreover, the growth in security & surveillance monitoring spending followed by technological advancement in video processing solutions will positively stimulate the industry landscape. Technological advances in camera, sensor, and robotics capabilities have improved security equipment, resulting in increased use to protect homes, businesses, and public spaces. More video surveillance systems are in place to catch people involved in crime and unwanted activities. Hence, creating opportunities for the key market players of the video processing platform market. For instance, according to the United States Department of Labor, from 2015 to 2018, the number of security cameras installed in the United States increased by almost 50% from 47 Mn to 70Mn, which further increased to about 85 Mn in 2021, an increase of 21% from 2018. Furthermore, an increase in the demand for camera sensors and video processing platforms is expected to grow worldwide due to their application in surveillance and security applications. Hence creating immense opportunities for video processing solutions providers.

Akamai Technologies, Imagine Communication, NVIDIA Corporation, Ateme S.A., Kaltura Inc., MediaMelon Inc., BASE Media Cloud Limited, Synamedia Ltd., SeaChange International, Qumu Corporation are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report
"Amongst application, video hosting category held a prominent share in the market in 2020”

Based on application, the video processing platform market is divided into video upload and ingestion, dynamic ad insertion, video transcoding and processing, video hosting, content rendering, and others. The video hosting segment held a significant share of the market in 2020 and is expected to witness a robust CAGR during the forecast period. The increasing internet penetration rate, the growing popularity of online video content, and the increased spending on online video advertising by most companies are driving the growth of this segment. For instance, according to World Bank, 60% of the total world population was using the internet in 2020 compared to 29% in 2010. This has forced businesses to make their presence on online platforms and allure the customers through online advertising. Hence, driving the growth of the video processing platform market
"Amongst industry, media and entertainment category held a prominent share in the market in 2020”

Based on industry, the video processing platform market is classified into media and entertainment, banking and financial services, information and communication technology, manufacturing, education, healthcare, and others. Among these categories, the media and entertainment segment grabbed a prominent share of the market in 2020 and is expected to showcase robust growth during the forecast period. The growth of this segment can be attributed to the increasing TV penetration, growing digitalization, rapid advancements in media and entertainment technologies, and increasing trend for online video streaming solutions across the globe. The OTT has contributed greatly to the advancement of media and entertainment, there are several advantages of OTT platforms such as reduced cost, crisp sound and picture quality, instant playback, multi-platform service, and others.
"APAC to witness significant growth during the forecast period”

The Asia-Pacific video processing platform market is expected to witness a prominent CAGR during the forecast period. The growth of this market can be attributed to economic growth, digital transformation, increasing usage of smart devices, and high-speed internet connectivity. The APAC includes both developed countries and developing countries such as Australia, Singapore, Japan, China, India, New Zealand, and South Korea. With better technology infrastructure, significant growth is expected from developed countries in the region. Developing countries are gradually moving towards the use of video processing platforms. In addition, the highly competitive environment in the region is expected to drive the growth of video processing platforms that improve the overall ROI of media, entertainment, and educational institutions. With high growth potential and a positive economic outlook, a variety of key companies are rapidly expanding their cloud businesses in the region.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

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