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Press Release / Industry / Startups are witnessing remarkable growth by offering customer-specific and customized solutions in global Video Encoder Market

Startups are witnessing remarkable growth by offering customer-specific and customized solutions in global Video Encoder Market

By prashantv on January 09 2019 | 143 Views

[156 Pages Report] The video encoder market was valued at USD 1.62 Billion in 2016 and is expected to reach USD 2.19 Billion by 2023, at a CAGR of 4.26% during the forecast period. The considerable gr

Startups are witnessing remarkable growth by offering customer-specific and customized solutions in global Video Encoder Market
[156 Pages Report] The video encoder market was valued at USD 1.62 Billion in 2016 and is expected to reach USD 2.19 Billion by 2023, at a CAGR of 4.26% during the forecast period. The considerable growth of mobile video streaming and the optimization of network bandwidth are creating immense opportunities for the video encoder market. Other major factors driving the growth of the video encoder market include ease of connecting analog cameras to a network, the use of cloud services to store a large amount of data, and the adoption of high-efficiency video coding (HEVC) standard for video encoding. The base year considered for the study is 2016 and the forecast period is between 2017 and 2023.
Single channel devices to lead the video encoder market in the coming years
1-channel or single-channel devices held a major share of the video encoder market in 2016. In the broadcast equipment industry, single-channel devices are in popular demand, especially for contribution application. These encoders allow broadcasting content to global audiences in real-time while retaining the resolution of the original video feed. The demand for single-channel devices in the broadcast application is generally influenced by major sporting events, such as the Olympics or FIFA World Cups.
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Market for broadcast application to witness a moderate growth in the near future
Delivering media content to any connected device has become the most crucial broadcast industry trend. This has influenced the broadcasters to transmit high-quality content, which is compressed in size to ensure better streaming; encoders are used for this purpose. The increasing demand for ultra-high definition (UHD) or 4K videos has given rise to the development of better encoders to transmit content over small bandwidths. This is driving the growth of video encoders in the broadcast application.
North America held the largest share of the video encoder market in 2016
North America was the leading market for video encoders in 2016. North America has been one of the largest market for broadcast and surveillance equipment. The market for video encoders in North America is driven by various factors such as large economy, strong high-tech and media sector, strong connectivity, and highly educated population among others. The growing cultural diversity throughout North America has also led to the increase in the number of broadcast channels, which, in turn, has boosted the demand for broadcast equipment in this region. Cisco (US), Avigilon (Canada), Harmonic (US), Honeywell Security Group (US), and Pelco by Schneider Electric (US) are also responsible for the dynamic growth of the video encoder market in North America.
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