Video Processing Platform Global Market Report 2024

A video processing platform is an internet-based video hosting service that enables users to upload, view, save, and broadcast video content.

The primary components of a video processing platform consist of hardware, the platform itself, and various services. This platform serves as an internet-based video hosting service, allowing users to engage in activities such as uploading, viewing, saving, and broadcasting video information. Deployment modes for these platforms include public cloud, private cloud, and hybrid, catering to functionalities like video upload and ingestion, dynamic ad insertion, video transcoding and processing, video hosting, content rendering, among others. These platforms find application in several sectors, including media and entertainment, defense, government or homeland security, and others.

The video processing platform market research report is one of a series of new reports that provides video processing platform market statistics, including video processing platform market industry global market size, regional shares, competitors with a video processing platform market share, detailed video processing platform market segments, market trends and opportunities, and any further data you may need to thrive in the video processing platform market industry. This video processing platform market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The video processing platform market size has grown rapidly in recent years. It will grow from $7.8 billion in 2023 to $9.15 billion in 2024 at a compound annual growth rate (CAGR) of 17.3%. The expansion observed in the historical period can be attributed to several factors, including increased disposable incomes, easy access to knowledge, the rapid adoption of technological products, a growing preference for video content across various applications, the surge of streaming services, the widespread use of social media, and the increasing prominence of e-learning platforms.

The video processing platform market size is expected to see rapid growth in the next few years. It will grow to $18.13 billion in 2028 at a compound annual growth rate (CAGR) of 18.6%. The anticipated growth in the forecast period can be attributed to high internet penetration rates, a thriving digital content ecosystem, an increasing emphasis on live streaming and real-time video, a surge in remote collaboration and video conferencing, and a growing demand for 4K and ultra high-definition (UHD) video. Noteworthy trends expected in the forecast period encompass the adoption of edge computing for video processing, a shift towards cloud-based video processing solutions, the development of low-latency video streaming technologies, advancements in video analytics and content recognition, and the emergence of 5G technology for enhanced video transmission.

The growth of the video processing platform market is anticipated to be driven by the increasing number of internet users during the forecast period. With the internet playing a pivotal role in contemporary lifestyles, a significant portion of the global population is deeply immersed in digital technology. Cloud-based video processing platforms represent a technology that offers video service operators standardized features and diverse monetization approaches. These platforms facilitate the integration of video-on-demand, multiscreen video infrastructure, television capabilities, and various formats. For example, a DataReportal report indicates that internet users are growing at a yearly rate of 4.8%, with over 600,000 new users added daily. As of October 2021, the global internet user count reached 4.88 billion people. Consequently, the rise in internet users contributes to the growth of the video processing platform market.

The proliferation of smartphones is poised to drive the growth of the video processing platform market in the coming years. Smartphones, integrating cellular and mobile computing functions, are equipped with advanced features. Video processing platforms enhance video quality, support real-time editing, and enable various applications such as video calls and augmented reality on smartphones. As per Demand Sage, a U. S. -based Google Sheets-based revenue operations platform, the global count of smartphone users reached 6.8 billion in 2023, showcasing an increase from approximately 6.6 billion users in 2022. Thus, the widespread adoption of smartphones is a significant factor propelling the video processing platform market.

Technological advancements are actively shaping the video processing platform market. Key players in the market are concentrating on the development of advanced technological solutions to fortify their market positions. For instance, in June 2021, MediaKind, an India-based media technology solutions company, introduced MediaKind Engage, a cloud-native technology-based solution. MediaKind Engage serves as a comprehensive end-to-end direct-to-consumer (DTC) video contribution, creation, broadcasting, and audience interaction solution. This solution empowers sports organizations, broadcasters, and content owners to seamlessly transition to cloud-based processes while expanding the reach, scope, and reliability of their video streaming content to a global audience.

Major companies operating in the video processing platform market are launching computing platforms to meet the growing demand for robust video processing capabilities. The iDhi edge computing platform, combining hardware and software solutions, is crafted to fulfill the requirements of diverse industries. In May 2023, Innominds, a U. S. -based product engineering services company, collaborated with Qualcomm Technologies, a U. S. -based semiconductor company, to unveil the iDhi edge computing platform. Tailored for demanding video processing applications in fields like medical monitoring, robotics, and drone piloting, this platform supports up to 8 video streams with 4G or 5G connectivity. It also integrates cloud connectivity for enhanced security and accelerates video processing with annotated datasets for remote edge device operation, making it particularly valuable in the medical technology industry.

In November 2021, Ericsson, a Sweden-based telecommunications company, executed the acquisition of Vonage for $6.2 billion. This strategic move underscores Ericsson's aim to broaden its wireless enterprise footprint and enhance its global offerings. Vonage, a U. S. -based telecommunications company, is renowned for providing a video processing platform.

Major companies operating in the in the video processing platform market report are Akamai Technologies Inc., 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

North America was the largest region in the video processing platform market in 2023. The regions covered in the video processing platform market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the video processing platform market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The video processing platform market includes revenues earned by entities by providing platforms to edit the images and sound recorded in video files and provide standardized capabilities and multiple monetization models to video service providers. A video platform is a video hosting service that enables users to publish, view, save, and broadcast video material over the internet. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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