The video processing platform market is expected to be valued at US$ 8.3 billion in 2024. The valuation CAGR for 2023 was 22.0%. The market’s progress is projected to be invigorating from 2024 to 2034, with a CAGR of 18.5%. By 2034, the market value is forecasted to have hit US$ 45.0 billion.
The market is expected to experience growth due to the expansion of the media and entertainment industry, which is driven by the increasing demand for high-quality video content from popular streaming services like Netflix and Amazon Prime. This has resulted in higher production of video content, leading to a need for advanced video processing platforms that can handle large volumes of data and provide high-quality output.
The adoption of video-based communication technologies has increased due to remote work and virtual meetings, resulting in a need for video processing platforms with advanced features such as screen sharing and virtual backgrounds.
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The popularity of social media platforms like YouTube and TikTok has also led to an increase in user-generated video content, requiring advanced video processing platforms for editing and enhancement. The market has seen a surge in demand for advanced technologies such as video analytics platforms, GPU video processing, and edge video processing, which enable businesses to process and analyze large volumes of video data accurately and quickly.
The popularity of 4K video processing is also contributing to the market growth, as it allows for higher resolution and better visual quality in video content.
“In the forecast period, there are expected to be lucrative opportunities from the potential for innovation and development. This is primarily because the demand for video processing platforms is on the rise, and to meet this demand, new and improved technologies are needed that can handle larger amounts of data and provide higher quality video outputs, “Says an analyst at FMI.
Key Takeaways from the Video Processing Platform Market
- The global video processing platform market is estimated to register a CAGR of 18.5% with a valuation of US$ 45 billion by 2034.
- The hardware segment is anticipated to dominate the global market by registering an 18.3% market CAGR from 2024 to 2034.
- With an 18.1% market CAGR, video upload and ingestion will drive the global market from 2024 to 2034
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Competitive Landscape
The market for video processing platforms is expected to change, with new players entering and existing players innovating to maintain their position. Each company offers unique capabilities and features that cater to diverse customer needs. In addition to established players, smaller companies and start-ups are also gaining recognition in this space. As the demand for video processing platforms increases, we can anticipate an influx of new players, which will further drive innovation in the market.
Recent Developments in the Video Processing Platform Market
In 2021, MediaKind announced the launch of MediaKind Engage – a new solution that offers end-to-end direct-to-consumer (DTC) services for video contribution, production, streaming, and audience engagement. This solution enables sports entities, broadcasters, and content owners to switch to cloud-based workflows effortlessly. By embracing this solution, they can enhance the reach, scalability, and reliability of their video streaming content, making it accessible to a global audience
Key Market Players
- Amagi
- APriorit
- ATEME
- Base Media Cloud
- Beamr
- BlazeClan Technologies
- IMagine Communications
- InPixal
- JW Player
- Kaltura
- Kamai
- Lightcast.com
Key Market Segmentation
By Component:
- Hardware
- Platform
- Services
By Application:
- Video Upload and Ingestion
- Dynamic Ad Insertion
- Video Transcoding and Processing
- Video Hosting
- Content Rendering
- Others
By Content Type:
- Real-Time/Live
- On-Demand
- Iron Ore Mining
- Precious Metals & Rare Earth Minerals Mining
- Industrial Mineral Mining
- Others
By End User:
- TV Broadcasters
- Network Operators
- Content Providers
By Verticals:
- BFSI
- Manufacturing
- Healthcare and Lifesciences
- IT and Telecommunications
- Government
- Education
- Retail and Consumer Goods
- Media and Entertainment
- Others
By Region:
- North America
- Latin America
- East Asia
- South Asia
- Europe
- Oceania
- MEA
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Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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