The Global Video Processing Platform Market size is expected to reach $13. 9 billion by 2027, rising at a market growth of 15. 9% CAGR during the forecast period. Video processing is the integration of adaptive bitrate (ABR) packaging, ultra-high-density transcoding, efficient IP conversion, encryption & streaming with a virtualized and modular solution.
New York, Dec. 03, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Video Processing Platform Market By Component, By Application, By Content Type, By End User, By Vertical, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" - https://www.reportlinker.com/p06188499/?utm_source=GNW
This integration makes it a flexible and cost-efficient method to provide customers with advanced live streaming and live-to-VoD (video on demand) multiscreen services, which assists in enhancing customer satisfaction and loyalty. There are numerous SMEs and enterprises that are majorly implementing cloud-based video processing solutions that can provide higher flexibility and robustness in the service.
Moreover, a cloud-based video processing platform refers to a solution that provides standardized capabilities and several monetization models for the video service providers. This platform also assists in combining capabilities & models with video-on-demand, multiscreen video infrastructure, and television. In addition, there are numerous cloud-based video processing & delivery platform providers that deliver solutions which can be implemented on various over-the-top (OTT) devices and mobile platforms. Additionally, these platforms allow video service providers to offer customized video experiences, preference settings, lineup management, parental control, multilingual selection, and other features to their customers.
The growing demand for high-quality videos, the increasing requirement for transcoding to provide videos to more end-users, and multi-device compatible video needs are among the key aspects fueling the growth of the video processing platform market. In addition, several mid-sized players operating in the video processing platform market which are providing solutions to SMEs with more advanced capabilities, which increases the competition in the market.
The outbreak of the pandemic has created the need to maintain the safety of the employees across different business domains. Due to this, many organizations have changed their policies and regulations. The major reason for the business disruption was the imposition of various restrictions like the travel ban and complete or partial lockdown. The travel ban and social distancing norms have compelled companies to transform their existing ways of functioning and reconsider operational options.
Market Growth Factors:
Rising requirement for transcoding to provide videos
The process of compressing video files with minimal quality loss in order to showcase information utilizing low data is known as transcoding. Video transcoding online refers to converting any video file from one format to a compressed file to make sure that users can stream content without facing any buffering and at the best quality. By using this technique in video processing, companies can change the format of any video or can reformat these video files. Through transcoding, enterprises can eliminate the format and bitrate issues.
The growing popularity of OTT platforms
OTT platforms like Netflix and Amazon Prime are gaining more traction among the population across the globe, which is creating demand for video processing platforms in the market. In addition, the increasing demand for high-quality video content by the audience is motivating these platforms to introduce more video content on their platform and thus, contributing to the growth of the video processing platform market during the forecast period.
Market Restraining Factor:
The huge cost of content creation and the growing concerns regarding content piracy
There is a constant increase in the demand for exclusive video content, which is motivating companies to spend more on numerous phases of video processing to improve their video creation process. One of the major problems faced by video content creators is the duplication of their video content across various regions and verticals. These kinds of problems increase the total cost of the content for the companies. The piracy of video content is constantly increasing and a pressing concern among the enterprises across the globe, which is further hampering the demand for video processing platforms around the world.
Based on Component, the market is segmented into Platform, Hardware and Services. The Platform market dominated the Global Video Processing Platform Market by Component 2020. The Hardware market is showcasing a CAGR of 15.5% during (2021 - 2027). Additionally, The Services market is estimated to grow at the highest CAGR of 17.8% during (2021 - 2027).
Based on Application, the market is segmented into Video Upload & Ingestion, Video Transcoding & Processing, Dynamic Ad Insertion, Video Hosting and Content Rendering & Others. Companies can make video content with more flexibility through video upload and ingestion. Along with that, it also assists companies to transfer, capture, and store video files in a better and systematic manner. Further, it helps in encoding and transcoding video streams, indexing video to increase the convenience in searching, creating thumbnails, processing images & slides, and routing video assets. Additionally, video upload & ingestion helps in high-speed video uploading and basic uploading for content managers.
Content Type Outlook
Based on Content Type, the market is segmented into Real-Time/Live and On-Demand. The Real-Time/Live market dominated the Global Video Processing Platform Market by Content Type 2020, growing at a CAGR of 15.1 % during the forecast period. Additionally, The On-Demand market is expected to witness a CAGR of 17.1% during (2021 - 2027).
End User Outlook
Based on End User, the market is segmented into TV Broadcasters, Network Operators and Content Providers. TV broadcasters segment acquired the highest market share in 2020. It is because TV broadcasters share audio and video content to several distributed audiences through electronic mediums utilizing one-to-many models. Conventional broadcasting was passive in nature under which a pre-decided schedule was then followed.
Based on Vertical, the market is segmented into Media & Entertainment, Manufacturing, BFSI, IT & Telecom, Education, Retail & Consumer Goods, Healthcare & Life Sciences and Others. One of the major trends in the broadcasting sector is that the availability of media content on any connected device. The significant expansion in the video traffic from VoD services like Netflix and Amazon Prime, live broadcast of entertainment & infotainment outlets, video conferencing, and the latest services in the social media space are fueling the demand for high-quality video processing platforms in the market.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America is estimated to emerge as the leading region in the video processing platform market over the forecast period. This growth is attributed to the increasing focus of the SMEs on the development of innovative video processing platforms that are combined with technological advancements like real-time advertising, video streaming, Artificial Intelligence (AI), video analytics, and Machine Learning (ML).
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Akamai Technologies, Inc., NVIDIA Corporation, Qumu Corporation, SeaChange International, Inc., Ateme S.A., MediaKind, JW Player, Inc., Kaltura, Inc., MediaMelon, Inc., and Imagine Communications, Inc. (Harris Broadcast).
Recent Strategies Deployed in Video Processing Platform Market
Partnerships, Collaborations, and Agreements:
Sep-2021: MediaKind teamed up with the Oi, a Brazilian telecommunications company. Under this collaboration, Oi selected MediaKind to improve the live events experience on its pay-TV subscription service. In addition, Oi also implemented MediaKind’s Cygnus Contribution solution to provide live events across its IPTV service in better quality with low latency.
Sep-2021: Ateme teamed up with World Cinema (WCI), a market leader in in-room entertainment and Wi-Fi technologies for the hotel sector. This collaboration aimed to release the WorldVue Video-on-Demand (VOD) solution for hotels. This would allow the key hotel chains and hospitality groups in North America to provide new in-room guest infotainment VOD services, and to carve the way for non-linear TV and video services.
Aug-2021: SeaChange formed a partnership with Screen iL, a D2C service from Stream iL Communications Ltd. This partnership aimed to provide access to the StreamVidTM platform’s full portfolio of cloud-based video delivery software, consisting of the company’s latest predictive analytics tool, on a consumption basis.
Jul-2021: Qumu Corporation partnered with Socialive, the leading video creation platform for business. This partnership aimed to provide a new Software-as-a-Service (SaaS) video streaming integration, which would enable companies of all sizes to generate scalable, studio-quality video content, and to organize and provide that content to any audience wherever and whenever they consume it.
Jun-2021: Qumu Corporation joined hands with the Birmingham County Football Association (BCFA). This collaboration aimed to capitalize on Qumu’s expansive video on demand (VOD) capability to simply develop and majorly distribute content rapidly and efficiently, with advanced security and scale.
Jun-2021: Ateme joined hands with KBS, a South Korean pay television channel. Under this collaboration, KBS selected ATEME’s Kyrion encoders to update its legacy infrastructure, helping broadcasting in high-quality MPEG-2 HD.
Jun-2021: Ateme entered into a collaboration with Intel, an American multinational corporation and technology company. This collaboration aimed to support the combination of Intel processors and Ateme encoders, which would enable Ateme’s customers to get benefit from the delivery of up to 2x higher-performance encoding for OTT, leading to high visual quality at a lower cost.
Mar-2021: MediaKind joined hands with Altice France’s SFR, France’s second-largest telecoms operator. In this collaboration, SFR extended the deployment of MediaKind’s Video Storage and Processing Platform (VSPP) solution to provide live OTT coverage of prime European soccer competition, the Union of European Football Association’s (UEFA) Champions League (UCL).
Mar-2021: Ateme partnered with NPAW, the leading business intelligence solution for broadcasters, telcos, OTTs, and media companies. This partnership aimed to enable Ateme customers would be capable to benefit from the real-time streaming video analytics solution from YOUBORA, NPAW, and its actionable supervision and deep analysis of streaming performance & video utilization, free of charge for a period of 90 full days.
Feb-2021: JW Player partnered with PulsePoint, a data insights company. This partnership aimed to integrate PulsePoint’s health activation platform Life by PulsePoint with JW Player’s video inventory. In addition, the partnership helped brands and agencies to outreach healthy audiences in real-time since they watch relevant, brand-safe video content on the JW Player network.
Feb-2021: Imagine Communications signed an agreement with Sky Media, the advertising sales arm of Europe’s leading Entertainment Company. This agreement aimed to transform how multiplatform media advertising is bought and sold.
Nov-2020: Kaltura partnered with CommScope, an American global network infrastructure provider company. This partnership aimed to provide cloud TV offerings to communications service providers & media companies across the world. In addition, the partnership would include Kaltura’s TV content management platform and other cloud solutions into best-of-breed video solutions.
Oct-2020: Kaltura teamed up with RGE Group, a global integrated, resource-based industrial group. This collaboration aimed to introduce its new Cloud TV service for kids, BIGI. In addition, RGE would leverage Kaltura’s video player technology for improved live TV use cases consisting of the capability to conduct live audience polls.
Oct-2020: Ateme came into a partnership with TVUp, a Spain-based TV company. In this partnership, TVUp deployed Ateme’s TITAN Live, high video quality, and high-density software compression solution. This solution would provide TV content, premium channels, and apps through OTT along with offering operators and customers the following key benefits: High Video Quality at Low Latency, More Efficient Encoding and Transcoding, and Direct access to a dedicated and growing local engineering team.
Oct-2020: Akamai came into a collaboration with Ateme, the emerging leader of video delivery infrastructure, servicing the world’s greatest content and service providers. In this collaboration, Ateme joined the Media Technology Partner (MTP) program of Akamai. The integration of Ateme’s live encoding & compression and Akamai’s content delivery at the edge provides production that is ready for sub-five-second OTT video streaming.
Sep-2020: Kaltura came into a collaboration with Cellcom Israel, a leading Israeli telecommunications company. This collaboration aimed to empower Cellcom TV, Israel’s first OTT service, with over 250,000 households subscribed across the nation. The service would be completely cloud-based and hosted on Amazon Web Services (AWS).
Acquisitions and Mergers:
May-2021: JW Player took over Vualto, a provider of live and on-demand video streaming and DRM solutions. This acquisition aimed to strengthen JW Player’s position in the market and also expand its platform to involve broadcast-level live streaming and content protection services.
Product Launches and Product Expansions:
Aug-2021: Qumu Corporation introduced on-demand video transcriptions, AI-enabled, automatic captioning for on-demand video, all from the Qumu platform. Such new functions provide customer’s additional options for the way they consume content, boosting productivity and allowing them to more easily manage their video libraries.
Jul-2021: SeaChange unveiled StreamVid, a turnkey platform for OTT services. These services are developed to assist operators and content owners to get connected with subscribers by offering new streaming services.
Jul-2021: Imagine Communications released Nexio NewsCraft, an all-in-one news production solution. This solution is remote production-friendly and allows companies to work smarter and more effectively so that every news story gets to air rapidly.
Jun-2021: MediaKind launched MediaKind Engage, a new end-to-end direct-to-consumer (DTC) solution. Through this launch, the company aimed to offer a rich, end-to-end direct-to-consumer solution, which provides broadcast-grade video quality, high stability, and scalability, the core tenets of any future live and VOD streaming service, especially in the sports space.
Jun-2021: Qumu Corporation introduced 360° video on demand (VOD) to the Qumu Video Engagement Platform. By integrating 360-degree video, users can substantially decrease the requirement for traditional practices such as in-person inspections, meetings, and product launches, along with improving the viewer experience.
Oct-2020: MediaKind introduced the CE1, heralding a new era for professional contribution video processing. This platform delivers secure, high-quality professional content contributions.
Aug-2020: MediaKind unveiled Aquila On-Demand, a video on demand solution. This offering under the MediaKind Universe of solutions helps TV operators to enable unique and immersive ways to consume video content to their subscribers & viewers, which provide decreased operational complication, optimized server footprint, and more time to market for valuable content assets.
Aug-2020: Qumu Corporation launched Qumu Video Control Center (VCC) Version 10.5, the customer-hosted deployment of Qumu’s intelligent Enterprise Video platform. This launch involves a new Qumu Analytics Engine (QAE) that offers comprehensive, real-time, and historical usage reporting of live and on-demand video content through a redundant, highly scalable, and ultra-fast search application.
May-2020: JW Player released Live Channels, an enhanced live streaming solution. This solution would help digital media enterprises to broadcast and monetize live without delay or time-consuming set-up.
Scope of the Study
Market Segments covered in the Report:
• Video Upload & Ingestion
• Video Transcoding & Processing
• Dynamic Ad Insertion
• Video Hosting
• Content Rendering & Others
By Content Type
By End User
• TV Broadcasters
• Network Operators
• Content Providers
• Media & Entertainment
• BFSI, IT & Telecom
• Retail & Consumer Goods
• Healthcare & Life Sciences
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• Akamai Technologies, Inc.
• NVIDIA Corporation
• Qumu Corporation
• SeaChange International, Inc.
• Ateme S.A.
• JW Player, Inc.
• Kaltura, Inc.
• MediaMelon, Inc.
• Imagine Communications, Inc. (Harris Broadcast)
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• Assured post sales research support with 10% customization free
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