The global video encoder market size is expected to reach USD 4.33 Billion by 2030, according to a new study by Polaris Market Research. The report “Video Encoder Market Share, Size, Trends, Industry Analysis Report, By Number of Channel (1-Channel, 2-Channels, 4-Channels, 8-Channels, 16-Channels, More Than 16-Channels); By Type; By Application; By Region; Segment Forecast, 2022-2030″ gives a detailed insight into current market dynamics and provides analysis on future market growth.
The market for video encoders is expanding dramatically due to many sectors’ adoption of digitalization and video content delivery networks (CDN). Additionally, the increasing use of cloud services also presents a variety of market expansion prospects, which will accelerate the development rate of the global market throughout the projection period. Since clouds offer a sizable amount of data storage capacity, people generally find it easier and more affordable to store data there than on hard drives or other physical storage devices.
Another important market driver is the high degree of internet penetration worldwide. The widespread usage of the internet has increased the demand for video watching. Content creators use video encoder technology to create the best videos possible to gather more viewers. Furthermore, rising cameras and simple software applications will accelerate overall market growth during the projection period. Adopting a video encoder in the military and defense sector is also expected to enhance the global market’s growth rate. The video encoder’s wide range of applications will further boost the market’s growth rate throughout the forecast period.
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The market is expected to be benefitted from the increasing demand for over-the-top (OTT) services. According to the World Economic Forum (WEF), the rise of OTT represents a USD 300 billion opportunity for digital viewing. During a pandemic, OTT services have experienced an increase in viewership. These trends indicate that OTT Platforms have a bright future, which gives a big opportunity for the global industry to grow.
Therefore, the advancement of technology and internet connectivity allowed for the creation of over-the-top (OTT) services. Due to the widespread use of video encoders in providing content for over-the-top (OTT) services, the market for video encoders is expected to grow rapidly, offering tremendous prospects for the sector. As a result, these growth determinants will help the market generate sizable revenue throughout the forecast period.
TVs with 4K resolution are already widely available. However, because there isn’t much 4K content on broadcast or streaming networks, making the most of 4K TVs’ potential can be difficult. A robust internet connection, plenty of bandwidth, and effective video coding are required to broadcast such content, even though some 4K content is already available through OTT services like Netflix, Prime, etc. Due to the sluggish adoption of high-efficiency encoders like H.266 and AV1, 4K streaming and broadcasting remain limited. Thus, market growth is anticipated to be constrained during the projection period by this limited capability.
Video Encoders Market Report Highlights
- 1-channel encoders accounted for high revenue in 2021. In the market for broadcast equipment, 1-channel are widely desired, especially for contribution applications.
- Rack-mounted category is expected to grow significantly over the forecast period. The category for rack-mounted video encoders is expanding significantly as a result of an increase in new product introductions.
- In 2021, broadcast category accounted for the highest total sales. Video encoders are needed for broadcasting, 4K recording/over IP, and camera support (such as monitoring live events). Most broadcasters use video encoders to offer high-quality video material with minimal bandwidth.
- North America had a major share in 2021 and is estimated to witness lucrative growth during the projected period due to the region’s growing adoption of the HEVC standard for video encoding during the projection period. Additionally, it is predicted that the expansion will pick up speed over the forecast period due to the increasing camera sales.
- The global players include Hikvision, VITEC, Harmonic, Motorola Solutions, Cisco, CommScope, HaiweiTech, Beamr, ACTi Corporation, Ericsson, Honeywell Security Group and LILIN.
Polaris Market Research has segmented the video encoders market report based on number of channel, type, application; and region:
Video Encoder, Number of Channel Outlook (Revenue – USD Billion, 2018 – 2030)
- More Than 16-Channels
Video Encoder, Type Outlook (Revenue – USD Billion, 2018 – 2030)
Video Encoder, Application Outlook (Revenue – USD Billion, 2018 – 2030)
Video Encoder, Regional Outlook (Revenue – USD Billion, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa