Video Processing Platform Market Size - By Component (Hardware, Platform, Services), By Content (Real-time/live, On-Demand), By Application, By Industry Vertical, & Global Forecast 2023 – 2032

Video Processing Platform Market Size - By Component (Hardware, Platform, Services), By Content (Real-time/live, On-Demand), By Application, By Industry Vertical, & Global Forecast 2023 – 2032

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.

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The exceptional rise in the popularity of online games and E-sports will further transform the video processing platform industry outlook through 2032. The gaming and e-sports industry's rapid progress has driven the demand for video processing platforms that can handle real-time game streaming, capture gameplay footage, and provide interactive features for viewers. For instance, in August 2023, Twitch RivalsFall Guys Charity Showdown event featured 100 popular Twitch streamers competing in the popular game Fall Guys. The event raised over USD 1 million for charity. The video conferencing platform, Zoom, was used to connect the streamers and the event organizers, allowing them to collaborate and coordinate the event in real-time.

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

The development of specialized hardware, such as graphics processing units (GPUs) and field-programmable gate arrays (FPGAs), has led to improved video processing performance and capabilities. For instance, Nvidia introduced GeForce RTX 3090 Ti GPU in January 2023, designed specifically for video processing and gaming. It has 24 GB of GDDR 6X memory and 10,752 CUDA cores, allowing it to process video at very high speeds. The RTX 3090 Ti has been used by video editors, streamers, and gamers to improve the performance and quality of their video processing. This apart, the progression of VR and AR applications, such as immersive experiences and training simulations, requires advanced video processing platforms to handle the unique requirements of these technologies.

Video Processing Platform Market Analysis

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Based on the content type, the video processing platform market is segmented into on-demand and real-time/live. The real-time/live segment held a industry share of over 69% in 2022. The popularity of real-time/live Video Processing Platforms is driven by their ability to provide instant and immersive interactions. From live-streaming events to interactive webinars, these platforms offer a dynamic and engaging experience for audiences worldwide. Instances like live gaming broadcasts on platforms such as Twitch, real-time product launches on social media, and virtual concerts during the COVID-19 pandemic showcase how real-time video processing enables real-time audience engagement, fostering a sense of immediacy and connection that traditional media cannot replicate.

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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

• On-Demand
• Real-time/live

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
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • ANZ 
• Latin America
  • Brazil
  • Mexico
• 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.