PUBLISHER: IMARC | PRODUCT CODE: 1298874
PUBLISHER: IMARC | PRODUCT CODE: 1298874
The global video transcoding market size reached US$ 1,756 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 4,019 Million by 2028, exhibiting a growth rate (CAGR) of 15.00% during 2023-2028. The increasing demand for video streaming, the surging sales of smartphones, and the advent of cloud-based transcoding services represent some of the key factors driving the market.
Video transcoding refers to the process of converting a video file from one format or codec to another. It involves decoding the original video file, typically in a specific compression format, and then re-encoding it into a different format or codec while potentially modifying other video properties such as resolution, bitrate, frame rate, or aspect ratio. It involves specialized software or hardware encoders performing decoding and encoding. It allows video files to be converted into formats that can be played or streamed on various devices, such as smartphones, tablets, smart TVs, gaming consoles, or media players. It is also utilized to enhance the quality of a video by applying different encoding settings or converting it to a higher-quality codec. In addition, video transcoding can dynamically adjust the video parameters based on the network conditions and the receiving device's capabilities. Owing to these benefits, video transcoding is gaining popularity across the globe.
The market is primarily driven by the increasing demand for video streaming. Nowadays, with the rise of online video platforms, video streaming services, and Over-The-Top (OTT) media providers, there is a growing need to transcode video content into different formats and resolutions to ensure compatibility with various devices and network conditions. In addition, the widespread use of smartphones, tablets, smart TVs, and other connected devices has created a fragmented landscape of platforms and operating systems. Video transcoding enables content providers to deliver videos across different devices and platforms, catering to the diverse preferences of viewers. Besides this, the increasing popularity of high-definition (HD) and Ultra-High Definition (UHD) video content requires efficient transcoding solutions to handle the larger file sizes and bandwidth requirements associated with these formats. This, coupled with the emergence of cloud-based transcoding services that offer scalability, flexibility, and cost-efficiency, allowing businesses to leverage powerful transcoding capabilities without investing in dedicated hardware or infrastructure, is propelling the market growth. Moreover, the rapid video content globalization is escalating the demand for video transcoding to overcome regional differences in video formats, resolutions, and codecs and enable content providers to distribute their videos globally.
IMARC Group provides an analysis of the key trends in each segment of the global video transcoding market, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on component and application.
The report has provided a detailed breakup and analysis of the video transcoding market based on the component. This includes software-based solutions and hardware-based solution.
Media and Entertainment
IT and Gaming
A detailed breakup and analysis of the video transcoding market based on the application has also been provided in the report. This includes telecommunication, media and entertainment, it and gaming, broadcasting, and others.
Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for video transcoding. Some of the factors driving the North America video transcoding market included the increasing video streaming, the surging sales of smartphones, and the rising video content globalization.
The report has also provided a comprehensive analysis of the competitive landscape in the global video transcoding market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Akamai Technologies Inc., Amazon Web Services, Inc. (Amazon.com Inc.), Brightcove Inc., Google LLC (Alphabet Inc.), Haivision Systems Inc., Imagine Communications Corp. (The Gores Group LLC), Qencode, Corp., Telestream Inc, Vbrick Systems Inc, Wowza Media Systems LLC, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.