Video Processing Platform Global Market Report 2023: Sector to Reach $15.93 Billion by 2027 at an 18.4% CAGR
DUBLIN, June 7, 2023 /PRNewswire/ -- The "Video Processing Platform Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global video processing platform market grew from $6.83 billion in 2022 to $8.09 billion in 2023 at a compound annual growth rate (CAGR) of 18.5%. The video processing platform market is expected to grow to $15.93 billion in 2027 at a CAGR of 18.4%.
The increase in the number of internet users is expected to propel the growth of the video processing platform market over the forecast period. The internet plays a crucial role in people's lives today as a large portion of the population's lives are immersed in digital technology. A cloud-based video processing platform is a technology that provides video service operators with standardized features and numerous monetization approaches.
These systems also aid in the integration of video-on-demand, multiscreen video infrastructure, television abilities, and formats. For instance, according to the DataReportal report, internet users are growing at a 4.8% yearly rate, with an average of more than 600,000 new users added each day, in October 2021, 4.88 billion people around the world are reported to use the internet. Therefore, the increase in the number of internet users is contributing to the growth of the video processing platform market.
7. Video Processing Platform Market Regional And Country Analysis
For more information about this report visit https://www.researchandmarkets.com/r/t3mkwz
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