Global Video Encoders Market Analysis Report 2022: Growth in the Number of Mobile-streaming Videos and Growing Market for OTT Services - Forecast to 2027
DUBLIN, Sept. 2, 2022 /PRNewswire/ -- The "Global Video Encoders Market by Number of Channel (1-Channel, 2-Channel, 4-Channel, 8-Channel, 16-Channel, more than 16-Channel), Type (Standalone, Rack-mounted), Application (Broadcasting, Surveillance) and Geography - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The video encoder market is estimated to reach USD 3.3 billion by 2027 from USD 2.3 billion in 2022 with a CAGR of 7.6% from 2022 to 2027
The major factors driving the growth of the video encoder market include adoption of high-efficiency video coding (HEVC) standards for video encoding, ease of connecting analog cameras using video encoder to a network, and use of cloud services to store increasing amount of data.
Key players in the market focus on research and development (R&D) to enhance the functionalities of the video encoders offered. Moreover, growth in the number of mobile-streaming videos and growing market for OTT services in developing countries are also creating immense opportunities for the video encoder market.
Broadcasting application is expected to grow at the highest CAGR from 2022 to 2027
The market for broadcasting application is expected to grow at the highest CAGR between 2022 and 2027. Video encoders are crucial in broadcasting, 4K recording/over IP, and supporting cameras (such as monitoring live events). Most broadcasters are now using video encoders to deliver high-quality video content using lower bandwidth.
The installation of video encoders helps broadcasters deliver high-quality video at minimum bit rates. Hence, the need for service providers to transmit high-quality content and ensure better streaming has led to the increased demand for broadcast encoders.
16-Channel video encoders is projected to grow at a higher CAGR during the forecast period
The market for 16-channel encoders s projected to grow at a higher CAGR during forecast period. 16-channel video encoers have 16-channel video and audio inputs.
The demand for 16-channel video encoder systems is expected to grow primarily due to the ease of 16-channel video encoder deployment rather than switching to expensive IP-based systems. The growing installation of a large number of cameras in commercial and institutional segments is expected to be another key factor supporting the growth of this market.
North America held the largest share of the video encoders market in 2021
The North America held a larger share of the video encoder market in 2021. Collaborations between the government and network arenas, institutional partnerships between video encoder manufacturers and research collaborations, and large-scale investments in cloud-based services in North America drive the demand for video encoders.
Moreover, in North America, particularly in the US, the government has taken initiatives to implement surveillance systems at government buildings, public places, and educational institutes. North America is considered a pioneer in adopting video surveillance systems for public safety. Video encoders play a major role in converting the existing analog systems into IP-based systems.
Major players operating in the video encoders market include Hikvision (China), VITEC (France), Harmonic (US), Motorola Solutions (US), and CISCO (US), among others.
Key Use Cases
Major Next-Generation Video Encoder Technologies
For more information about this report visit https://www.researchandmarkets.com/r/31iqj2
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