Video Processing Platform Market Size
Video Processing Platform Market size was valued at USD 7.1 billion in 2022 and is projected to register a CAGR of over 11.5% between 2023 and 2032. The COVID-19 pandemic accelerated the adoption of remote work and virtual events. One of FlexJobs' most compelling statistics shows that 57% of employees would think about quitting their current job if their employer forbade remote work.
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Also, 65% of workers want to work remotely all the time, demonstrating the acceptance of this work arrangement. Meanwhile, 32% favor a hybrid schedule that combines the best aspects of both. Favorable scenarios associated with remote work have highlighted the need for video processing platforms to support video conferencing, webinars, virtual trade shows, and online collaboration, favoring the adoption of video processing platforms.
Video Processing Platform Market Report Attributes
| Report Attribute |
Details |
| Base Year |
2022 |
| Video Processing Platform Market Size in 2022 |
USD 7.1 Billion |
| Forecast Period |
2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR |
11.5% |
| 2032 Value Projection |
USD 20.5 Billion |
| Historical Data for |
2018 to 2022 |
| No. of Pages |
220 |
| Tables, Charts & Figures |
325 |
| Segments covered |
Component, Content Type, Application, Industry Vertical |
| Growth Drivers |
- Rising video consumption
- Increasing desire for high-quality movies
- Rising focus integration with new technologies
- Developments in AI and real-time/live computing enhancing video processing
- Growth of mobile video consumption
|
| Pitfalls & Challenges |
- Variability in content formats
- Security and copyright concerns
|
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The craze for online gaming and E-sports is skyrocketing, and it's changing the landscape for companies that handle video. These days, gamers need platforms that can stream their epic battles, capture their amazing moves, and let viewers get in on the action. That's why the gaming and E-sports industry is booming, and platforms like Twitch are thriving. Take the Twitch RivalsFall Guys Charity Showdown event in August 2023, for example. Over 100 popular streamers battled it out in the hit game Fall Guys, all to raise money for charity. The event used video conferencing platform Zoom to connect the streamers and organizers, making it easy for them to work together and put on a great show.
However, implementing advanced video processing platforms can be complex and resource-intensive, particularly for smaller businesses or organizations with limited budgets. The integration of hardware, software, and network infrastructure required for efficient video processing can lead to high upfront costs and ongoing maintenance expenses. Besides, the video processing industry involves various patented technologies and intellectual property rights related to codecs, compression algorithms, and other critical components. Negotiating licensing agreements and managing potential patent infringement risks can be challenging and may contribute to higher costs for video processing platform providers.
COVID-19 Impact
The COVID-19 pandemic significantly impacted the Video Processing Platform Market by accelerating its expansion. With lockdowns and remote work becoming prevalent, the demand for video conferencing, streaming, and virtual events surged. This sudden surge in online activities highlighted the importance of efficient video processing platforms to ensure smooth streaming, real-time analytics, and engaging user experiences. The industry saw increased adoption as businesses, educational institutions, and individuals relied on these platforms for communication, entertainment, and collaboration.
Video Processing Platform Market Trends
Hey, have you heard about these cool hardware things that are making video stuff so much better? Companies like Nvidia have come up with these fancy video-processing GPUs, like the GeForce RTX 3090 Ti. It's a beast with a ton of memory and powerful cores that can handle video super fast. Video editors, streamers, and even gamers are using this thing to make their videos look amazing and run smoothly. And because of these awesome advances, we're seeing more virtual reality (VR) and augmented reality (AR) experiences that are so lifelike, it feels like you're right in the middle of the action. These things need special video processing power to work their magic, and these new hardware improvements are making it all possible.
Video Processing Platform Market Analysis
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Hey there! When it comes to video processing platforms, they're like magic boxes that take different types of content and make them perfect for your screens. And guess what? These platforms can handle either videos you can watch anytime you want (on-demand) or videos that happen right when you're watching (real-time/live). Back in 2022, the real-time/live stuff was booming, grabbing over 69% of the market. Why is it so popular? Well, these platforms are like superheroes who can beam events to you in a snap. Think of live concerts, webinars where you can ask questions as they happen, or even live video chats with your friends. They make you feel like you're right there, even if you're miles away. That's why things like live video game streams on Twitch, online product launches, and even virtual concerts during the pandemic became so big. Real-time video processing makes it possible to connect with others instantly, creating that special spark that traditional media just can't match.
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Based on component, the video processing platform market is segmented into hardware, platform, and services. The platform segment held a industry share of 49% in 2022. With the rise of streaming services, social media, and e-learning, there's a soaring demand for efficient video processing to deliver high-quality, seamless experiences. These platforms enable real-time analytics, advanced editing, and personalized content, catering to diverse user needs. Additionally, the integration of AI, VR, and AR enhances engagement. As businesses, creators, and educators harness the power of visual communication, video processing platforms have become essential tools to captivate and connect with audiences globally.
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The North America video processing platform video processing platform market held a industry share of over 36% in 2022. The region's advanced technological infrastructure, high internet penetration rates, and thriving digital content ecosystem have created a conducive environment for video consumption. Moreover, the surge in remote work, online education, and streaming services during the COVID-19 pandemic further accelerated the demand for efficient video processing solutions. With a strong emphasis on innovation and a tech-savvy population.
Video Processing Platform Market Share
Major players operating in the video processing platform market are
- Akamai Technologies
- Kaltura,
- SeaChange
- Vantrix
- Pixel Power
- MediaKind
- magine Communications
- Harmonic
- Synamedia
- Avid Technology
- Evertz,
- Edgio,
- Brightcove
- AWS Elemental.
Video Processing Platform Industry News
- In February 2023, Kaltura acquired Haivision, a provider of live video streaming solutions. This acquisition will allow Kaltura to offer a more comprehensive video processing platform that includes both live and on-demand video streaming capabilities.
- In April 2023, Imagine Communications acquired SeaChange, a provider of video processing and delivery solutions. This acquisition will allow Imagine Communications to offer a more comprehensive video processing platform that can be used to deliver video to a variety of devices and platforms.
The video processing platform market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) from 2018 to 2032, for the following segments
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By Component, 2018 – 2032
- Hardware
- Platform
- Services
By Content, 2018 – 2032
By Application, 2018 – 2032
- Video upload & ingestion
- Dynamic Ad insertion
- Video transcoding & processing
- Video hosting
- Content rendering
- Others
By Industry Vertical, 2018 – 2032
- BFSI
- Healthcare
- Government
- IT & Telecommunication
- Education
- Manufacturing
- Retail & Consumer Goods
- Media & Entertainment
- Others
The above information is provided for the following regions and countries
- North America
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- ANZ
- Latin America
- MEA
- South Africa
- UAE
- Saudi Arabia
Frequently Asked Questions (FAQ)
What is the size of the video processing platform market?
Global market for video processing platform was valued over USD 7 billion in 2022 and is projected to register a CAGR of over 11.5% between 2023 and 2032, backed by the remote work culture, and rising popularity of online games and E-sports.
Why is platform component gaining traction in video processing platform industry?
The platform segment held a market share of 49% in 2022 and will continue to grow through 2032, due to the exponential growth of online video content.
How big is North America video processing platform market?
North America market accounted for over 36% revenue share in 2022. The region's advanced technological infrastructure, high internet penetration rates, and thriving digital content ecosystem have created a conducive environment for video consumption, boosting the demand for video processing platforms.
Which firms define the competitive landscape of video processing platform industry?
Akamai Technologies, Kaltura, SeaChange, Vantrix, Pixel Power, MediaKind, Imagine Communications, Harmonic, Synamedia, Avid Technology, Evertz, Edgio, Brightcove, AWS Elemental.
