New York, US, Aug. 17, 2021 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Global Video Encoder Market information by Component, Type, Application, Number of Channels, End User and Region – forecast to 2027” the market is estimated to reach USD 2.69 Billion by 2025, registering a CAGR of 5.8%.
Dominant Key Players on Video Encoder Market Covered Are:
- Axis Communications AB (Sweden)
- Harmonic Inc (US)
- Truen Ltd (Korea)
- VITEC (US)
- Hangzhou Hikvision Digital Technology Co., Ltd (China)
- Haivision (Canada)
- Zhejiang Dahua Technology Co., Ltd (China)
- Arris International Limited (US)
- Cisco Systems Inc (US)
- Bosch Security Systems (US)
- Ateme SA (France)
- Delta Information Systems, Inc. (US)
- Matrox (Canada)
- Motorola Solutions (US)
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Market Drivers
Increasing Adoption of Cloud Services to Boost Market Growth
The increasing adoption of cloud services will boost market growth over the forecast period. As clouds possess a vast amount of data storage space, it is simpler for users in storing data on cloud rather than hard drives or any other physical storage device, which helps in minimizing cost.
Opportunities
Ease of Connecting Analog Cameras to Offer Robust Opportunities
Ease of connecting analog cameras will offer robust opportunities for the market over the forecast period. Analog cameras are employed with CCD sensors which capture images as well as store them at local storage devices. Such stored and processed images can be transferred via real-time through the help of a video encoder. Video encoders connect to analog video cameras with coaxial cables and also convert analog video signals into digital video streams. Images are needed for converting back into their analog forms so these can be viewed on devices like tablets, laptops, and computer devices, and others. Because analog cameras require separate video encoders, they need minimal maintenance.
Restraints
Occurrence of Errors during Transfer to act as Market Restraint
The occurrence of errors at the time of transferring data coupled with growing OTT services may act as market restraint in the forecast period.
Challenges
High Cost to act as Market Challenge
The capital expenditure due to transition of technology and high cost of video encoder & decoding constraints may act as market challenges in the forecast period.
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Segmentation of Market Covered in the Research:
By type, the video encoder market is segmented into rack-mounted and stand-alone.
By component, the video encoder market is segmented into software video encoders and hardware video encoders.
By application, the video encoder market is segmented into satellite, enterprise, post-production, multiscreen, internet protocol television & cable, and others.
By channel, the video encoder market is segmented into multiple channels and single-channel.
By end user, the video encoder market is segmented into residential, retail, commercial, and military and defense.
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Regional Analysis
North America to Have Lions Share in Video Encoder Market
North America will have lions share in the market over the forecast period. High investments made by companies to develop new technologies, increasing urbanization, rising services for video encoding, increasing trends of live video streaming, video streaming, and other video content over the internet that has boosted the need for video encoders, the adoption of advanced technology, the presence of various key players in the region, technological advances, adoption in the telecom sector, rapidly changing market, evolution of digitalization, and the increasing adoption of HEVC standard for video encoding are adding to the global video encoder market growth in the region. Besides, the high investments made by companies in the region to develop such technologies, institutional partnership agreement between the equipment manufacturers, collaboration between the government and network arenas, and high investments in cloud-based services are also adding market growth. Cloud-based streaming that includes live streaming is adding to the market growth in the region during the pandemic.
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COVID-19 Impact on the Global Video Encoder Market
The video encoder market is experiencing a noteworthy growth for the COVID-19 pandemic. The spread of the novel coronavirus in different parts of the world has led to nationwide lockdowns as well as shutting down of businesses. The complete or partial national lockdowns have affected the workforce and the global economy. Besides, the restrictions confining people to their homes are responsible for the burgeoning demand for video streaming platforms as Hotstar, Netflix, Prime, and Amazon. The rising trend of live video streaming, video content over the internet, and video streaming has increased the need for video encoders at the time of the lockdown. Video encoders allow users in playing a recording live on the screens. As per the MRFR analysis, more than 50% population are using video streaming platforms more than prior to the outbreak.
Industry Updates
VuClip has integrated Bitmovin’s video encoder on Google Cloud. This will enable over the top content providers such as VuClip in deploying the cloud agnostic encoding solution of the company on every existing cloud platform.
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
