The rapid growth in the sector of video content is creating challenges and opportunities for both consumers and providers. The surge of internet and mobile video is creating a shift in how video is produced, delivered and used. Video transcoding holds the key to deliver video content easily and cost-effectively in every type of distribution platform such as mobile, laptops, desktops, and others. Video transcoding is the transformation of media files from one form to another without compromising on the quality of the content. The process will also make videos viewable across different platforms and devices. In order to allow efficient video transcoding, video transcoder is used. This device will convert the existing digital video content to another digital format to enable compatibility and viewing on a device. The demand for video streaming service is likely to surge due to proliferation of online media content services. The primary factors driving the growth of the global video transcoding market include high growth in software as a service (SaaS) offerings, digitization of cable and broadcast industry, and increased number of portable devices. Additionally, increasing adoption of cloud-based video transcoding solutions is expected to drive the growth of the video transcoding market globally. Cloud-based video transcoding solutions are cost effective, customizable, scalable, and flexible which adds to its popularity. Cloud solutions have proven to be a boon for distant education and remote working culture in the global COVID-19 pandemic. The growing adoption of cloud-based transcoding solutions to increase the reach of video content is surging the market of video transcoding globally.
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In the education and academic sector, videos are used extensively to enhance the learning process such as through virtual recordings of webinars and courses among others. Visual recordings have a powerful impact to retain information. Therefore, nowadays, universities, schools, and colleges, are using video transcoding in creating multimedia content and delivering it in the form of video presentations. Several factors such as easy access to content, increasing demand for mobile devices, and the increasing availability of the internet are positive aspects which are encouraging the adoption transcoding services for educational purposes. These factors are driving the demand of global video transcoding market.
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The detailed research study provides qualitative and quantitative analysis of video transcoding market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
Key Findings of the Report:
- In terms of revenue, global video transcoding market was valued at US$ 1070.99 Mn in 2020 and is anticipated to reach US$ 1553.27 Mn by 2029 growing at a CAGR of 4.26% over the forecast period (2021 – 2029).
- By offerings, solutions accounted for the highest market share in the global video transcoding market in 2020. Due to the increasing trend of online video streaming, cloud-based solutions are the expected to be the fastest growing over the forecast period (2021 – 2029).
- Small and medium enterprises is the fastest growing segment over the forecast period.
- Broadcasting sector accounted for the highest market share in the global video transcoding market in 2020.
- By region, North America accounted for the highest share in the global video transcoding market in 2020.
- Some of the players operating in the global video transcoding market are Alibaba Cloud, Amazon Web services Inc., Arvato Systems (Vidispine), Bitmovin Inc, Brightcove Inc., Coconut, Encoding. com, Fujitsu Frontech North America, Inc., Google LLC, Haivision, Harmonic, Microsoft, Nekojarashi, Inc. (Setaria Cloud), Qencode Inc. and Telestream, LLC amongst others.
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Global Video Transcoding Market
- By Offering
- Solutions
- Services
- By Organization Size
- Small and medium Enterprises
- Large Enterprises
- By End-users
- Education
- Broadcasting and Media
- Gaming
- IT and Telecommunication
- Others
- By Region:
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- North America
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