The global Video Processing Platform Market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 16.5% during the forecast period, to reach USD 11.4 billion by 2026 from USD 5.3 billion in 2021. Major factors that are expected to drive the growth of the video processing platform market include increasing demand for high quality videos, multi-device compatible video requirements, and changing trends in digital advertising.
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The factors driving the growth of the video processing platform market are the increasing demand for high-quality videos, the growing need for transcoding to deliver videos to maximum end users and multi-device compatible video requirements. The video processing platform market comprises several key players, along with medium-sized vendors, offering solutions to SMEs. Hence, the market faces tough competition. As the number of internet users has been increasing in the past few years, and this number is expected to grow significantly in upcoming years, the demand for video processing solutions and services is also expected to grow. The surge in digital media consumption has created new opportunities for network operators and content providers, resulting in increased revenue with dynamic ads insertion. This advancement in the digital advertising space is therefore creating new opportunities for video processing platform vendors driving more demand for video processing.
The market is expected to be driven by multi-device compatible video requirements
The broadcasting industry has witnessed several technological changes as the industry evolved in the past decade. With continuous improvement in internet accessibility and quality infrastructure around the globe, content providers are taping on to new opportunities such as providing multi-device compatibility videos to increase their subscription base. Also, the changing work environment and growing video consumption in different forms increase the demand for multi-device compatible videos. This increasing demand for multi-device compatibility videos is generating new revenue streams for video processing platform vendors.
The video processing platform market report includes major vendors, such as are Akamai (US), Imagine Communications (US), MediaKind (US), Kaltura (US), ATEME (France), Synamedia (England), SeaChange (US), Vantrix (Canada), NVIDIA (US), Pixel Power (UK), Qumu (US), InPixal (France), Amagi (US), Apriorit (US), MediaMelon (US), Mux (US), Base Media Cloud (US), M2A Media (UK), BlazeClan Technologies (India), JW Player (US), SSIMWAVE (Canada), Lightcast.com (US), and Beamr (US). The major players in the video processing platform market have implemented various growth strategies to expand their global presence and increase their market shares. Key players such as Akamai, Imagine Communications, MediaKind, Kaltura, ATEME, and Synamedia have majorly adopted many growth strategies, such as new services and product launches, acquisitions, and partnerships, to expand their product portfolios and grow further in the video processing platform market.
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Akamai Technologies is a leading vendor of media delivery solutions. The company offers a wide range of solutions and services, and its offerings are categorized into security solutions, web performance solutions, media delivery solutions, network operator solutions, and services. The media delivery solution offers Akamai’s Adaptive Media Delivery, which is optimized to provide consistent, high-quality video playback experiences across any screen to growing online audiences. It is designed to empower content providers to simplify player operations while ensuring quality online media playback to their client’s web or app-based streaming video and audio experiences. Adaptive Media Delivery is built on the Akamai Intelligent Edge Platform and provides superior scalability, reliability, availability, and reach. The company also provides supplementary solutions, such as Download Delivery, Media Services Live, NetStorage, and Adaptive Media Player.
The company caters to various verticals, including financial services, hospitality & travel, media & entertainment, public sector, and retail & consumer goods. It also caters to a broad customer base and has a global presence in more than 4,100 locations in more than 135 countries. It has a strong presence in the Americas, APAC, and EMEA.
MediaKind was founded in 2017 and is headquartered in Texas, US. The company categorizes its diverse portfolio into solutions, products, and services. It is one of the market leaders in video processing platforms. It aims at leading the future of global media technology and be the first choice for service providers, operators, content owners, and broadcasters looking to create and deliver immersive media experiences for everyone, everywhere. It leverages the latest technologies to aid customers’ businesses into intelligent video solutions. The company offers an end-to-end suite of solutions and services to enable customers to operate profitably, adapt continuously, and make a difference.
The company offers many products under the heads of video processing & storage, video decoding, processing management and control, stream processing and modulation, and media platforms. It also offers various solutions, comprising contribution and distribution, consumer delivery, consumer experience, and monetization and engagement. The company’s Video Storage and Processing Platform (VSPP) solution powers a unified solution for cloud DVR, on-demand, and time/place-shifted services, offering better performance, reduced latency, and much lower CAPEX and TCO.
MediaKind specializes in media processing & delivery, contribution processing, direct-to-consumer processing, tv platforms, cloud DVR, time/place shift, advertising & analytics, VR/360, and low-latency UHD decoding. It caters to various industries, such as BFSI, public services, telecommunications, and media and entertainment. It operates in the Americas, Europe, APAC, and MEA.
Imagine Communications was founded in 1922 and is headquartered in Texas, US. It is a leading provider of media technology and aims to help media companies make and monetize TV. Imagine Communications offer scalable, software-based solutions that make it easy for the world’s leading media companies to deliver TV everywhere and provide a seamless migration path to the more efficient delivery platforms of tomorrow. It is the first broadcast video server to support 1080p and provided the first HD instant replay for the NFL.
Imagine Communications offers a pool of solutions, products, and services to choose from. The solutions that the company offer include playout, news production, stadium and venue production, sports and live production, mobile and remote production, media infrastructure, rights management, program scheduling, video distribution, dynamic Ad insertion, IP infrastructure, adaptive audience fulfillment, and advertising management. The services offered by Imagine Communications include customer care, imagine advisory services, managed services, professional services, and training. In the video processing vertical, the company offers Selenio Media Convergence Platform (MCP), which delivers an on-ramp/off-ramp solution for conversion of SDI signals to IP streams and IP to SDI signals, allowing continued use of existing infrastructure for a phased, disruption-free transition to IP, while supporting hybrid domains.
The company has a significant presence across North America, Europe, and APAC. It specializes in the new generation of media enabled by IP, virtualization, cloud infrastructure, and software-defined networks, developing a future-looking ecosystem that enables its customers to operate ahead of the technological curve.
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