Video Transcoding Market to Grow by USD 1.68 Billion (2024-2028) Driven by Increased Content Creation and Rise of OTT Platforms, Powered by AI - Technavio Report

NEW YORK, Sept. 2, 2024 /PRNewswire/ -- Report on how AI is driving market transformation- The global video transcoding market size is estimated to grow by USD 1.68 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  13.21%  during the forecast period. Increased content generation and rise of ott platforms is driving market growth, with a trend towards increasing adoption of ai-based video transcoding. However, increasing use of open-source and free editing software  poses a challenge. Key market players include Akamai Technologies Inc., Alphabet Inc., Amazon.com Inc., Bertelsmann SE and Co. KGaA, Bianor Inc, Brightcove Inc., CDNetworks Inc., Contus, Harmonic Inc., Hewlett Packard Enterprise Co., Huawei Technologies Co. Ltd., Imagine Communications Corp., Muvi LLC, Mux Inc. , Qencode Corp., Telestream LLC, TV2Z, VBrick, Wilhelm Sihn jr. GmbH and Co. KG, and Wowza Media Systems LLC.

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Market Driver

The video transcoding market is experiencing significant growth due to the increasing demand for video content across various industries. Companies are investing in video transcoding solutions to convert videos into different formats for various devices and platforms. This process improves video accessibility and enhances user experience. Additionally, advancements in technology have made transcoding more efficient and cost-effective, making it an essential component of video content delivery. 

The Video Transcoding Market is booming as the demand for OTT content on various devices increases. Smart TVs, smartphones, and tablets are leading the charge, requiring video transcoding for cross-platform compatibility and optimal video quality. Telecoms network landscape, including Communications Service Providers and LTE networks, are also driving growth. Education sector and content publishers are adopting cloud-based media platforms for efficient video encoding and adaptive streaming. Video encoders, both hardware and software, and Software-as-a-Service solutions are essential for handling the vast amounts of digital video files. Compatibility and video quality are key concerns, with compression and media asset management playing crucial roles. Streaming services, mobile devices, televisions, PCs, and cloud services all benefit from high-speed internet, virtual reality, and high-quality video content. Artificial intelligence and big data are also transforming the market, with applications in content recommendation and personalization. Broadcasters, OTT platforms, content creators, telecommunication, IT and gaming industries are all leveraging video transcoding for their unique needs. 

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Market Challenges

• The video transcoding market is experiencing significant growth due to the increasing demand for video content across various industries. Businesses are turning to video transcoding solutions to convert videos into different formats for various applications, such as web streaming, social media, and mobile devices. Video transcoding enables businesses to reach larger audiences and improve user experience by delivering videos in the right format and resolution. This market is expected to continue growing as the demand for video content continues to rise.
• The Video Transcoding Market is growing rapidly as content publishers face the challenge of making digital video files compatible with various video displaying devices. Cloud-based media platforms are leading the way with their ability to offer cross-platform compatibility and adaptive streaming. Compatibility and video quality are key concerns for streaming services looking to reach mobile devices, televisions, PCs, and cloud services. High-speed internet is essential for effective video encoding and compression, especially for high-quality video content in the Media and Entertainment industry. Challenges include ensuring compatibility with different transcoding formats, maintaining cross-platform compatibility, and delivering optimal video quality. Broadcasters, OTT Platforms, Content Creators, Telecommunication companies, IT and gaming firms, and Social networking sites all rely on video transcoding to meet the demands of their audiences. Artificial intelligence and big data are being used to improve the transcoding process and enhance user experience. The market is expected to grow significantly as more businesses adopt cloud services for their video needs.

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Segment Overview 

This video transcoding market report extensively covers market segmentation by  

1. Type 
• 1.1 Software based solution
• 1.2 Hardware based solution
2. End-user 
• 2.1 Media and entertainment
• 2.2 Others
3. Geography 
• 3.1 North America
• 3.2 APAC
• 3.3 Europe
• 3.4 Middle East and Africa
• 3.5 South America

1.1 Software based solution-  The video transcoding market is growing as businesses increasingly require converting videos into various formats for distribution across multiple platforms. Companies use video transcoding to ensure compatibility with different devices and streaming services. This process optimizes video quality and reduces bandwidth usage, enhancing user experience. Market size is expected to expand due to rising video content production and increasing demand for on-demand video services.

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Research Analysis

The Video Transcoding Market refers to the industry that provides solutions for converting digital video content from one format to another. With the proliferation of Smart TVs, Smartphones, Over-the-top services, and other multimedia devices, the demand for video transcoding has surged. Video encoders play a crucial role in this market, enabling compatibility across various platforms and ensuring optimal video quality. OTT content providers rely on software, hardware, and Software-as-a-Service solutions for transcoding their media assets. Compatibility and video quality are key considerations in this market, as content needs to be adaptable to different streaming services and devices. Telecommunication, IT and gaming, broadcasting, and content creators are significant end-users. Transcoding formats include H.264, H.265, and VP9, among others. Adaptive streaming and media asset management are also essential components of the video transcoding market.

Market Research Overview

The Video Transcoding Market is a dynamic and growing industry that focuses on converting digital video files from one format to another to ensure compatibility and optimal playback across various devices and platforms. With the proliferation of Smart TVs, Smartphones, Over-the-top services, and multimedia mobile devices like tablets, the demand for video transcoding has surged. Video encoders, both hardware and software, and Software-as-a-service solutions play a crucial role in this market. The Telecoms network landscape, Communications Service Providers, Long-Term Evolution (LTE), and High-speed internet have also fueled the growth of this market. The Education sector and Content publishers are significant end-users, while Cloud-based media platforms and Streaming services are key applications. Compatibility, video quality, cross-platform compatibility, compression, media asset management, and video encoding are essential aspects of video transcoding. Adaptive streaming, Virtual reality, High-quality video content, Artificial intelligence, Big data, Media and Entertainment, Individual, Cloud, On-Premise, Broadcasters, OTT Platforms, and Content Creators are other significant areas where video transcoding finds application. Transcoding formats such as H.264, H.265, and VP9 are commonly used. Social networking is another emerging area where video transcoding is gaining importance.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Type
• Software Based Solution
• Hardware Based Solution
• End-user
• Media And Entertainment
• Others
• Geography
• North America
• APAC
• Europe
• Middle East And Africa
• South America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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