In its research report, Market Research Future (MRFR), asserts that the global video encoder market 2020 is slated to grow exponentially over the review period, securing a substantial market valuation of USD 2.69 Billion by 2025, and a healthy 5.8% CAGR over the review period.
Drivers and Restraints
There are numerous factors that contribute to the growth of the global Video Encoder Market, such as growing internet penetration, rising cloud adoption and increasing demand for real-time surveillance. In addition, the video encoder is the tool used to transform analog video signals into a video stream, which is a good choice for users to reduce latency when streaming video. The growing application of cameras has increased the video encoder requirements in different industries and residential areas. In addition, with growing digitalization, the use of video encoders has increased in military and defense as well as public broadcasting and surveillance activities, which are considered one of the driving forces for the industry.
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In addition, the rise in the adoption of cloud services has also fuelled market growth. Since cloud has a vast amount of data storage space, it is easier for users to store data on the cloud instead of hard drives or other physical storage devices; this helps to minimize costs. In addition, the increasing popularity of the standard for high-efficiency video coding (HEVC) is also propelling market growth across the globe.
The Global Video Encoder Market has been segmented based on End User, Type Component, Type, Application, Channel, and Region.
By Type, the global video encoder market has been bifurcated into stand-alone and rack-mounted.
By Component, the global video encoder market has been bifurcated as hardware video encoders and software video encoders.
By application, the global video encoder market has been divided into multiscreen, post-production, Internet protocol television (IPTV) & cable, enterprise, satellite, and others.
By Channel, the global video encoder market has been categorized as single-channel and multiple channels.
By End User, the global video encoder market has been segmented into military and defense, commercial, retail, and residential.
The geographical overview of the global market has been analyzed in four major regions, including North America, the Asia Pacific, Europe, and the rest of the world.
North America accounted for the largest market share in 2018 due to heavy spending by businesses to develop new technologies. The rising urbanization and increasing video encoding services are driving the market in the area. In addition, the developments in video sharing, live video sharing, and other Internet-based video content have increased the need for video encoders, driving market growth. Furthermore, the adoption of advanced technology and the involvement of different main players in the area are some of the key factors driving the region's video encoder market.
Europe accounts for a large market share in the video encoder industry, due among other things to growing developments in online video sharing and game play. The media & entertainment, gaming firms, and other end users are using video encoders to reduce the latency rate and exchange the details in real-time. In addition, the European government's growing investments in video surveillance are one of the main driving factors for the sector.
Asia-Pacific is expected to be the fastest-growing region during the forecast period due to the Government's rising military & defense investments, which are also focused on monitoring. The increasing adoption of new technology in the region and rising online streaming is one of the significant factors driving the market.
The major market players operating in the global market as acknowledged by MRFR are Axis Communications AB (Sweden), Harmonic Inc (US), Truen Ltd (Korea), Hangzhou Hikvision Digital Technology Co., Ltd (China), VITEC (US), Haivision (Canada), Zhejiang Dahua Technology Co., Ltd (China), Arris International Limited (US), Cisco Systems Inc (US), Bosch Security Systems (US), Ateme SA (France), Delta Information Systems, Inc. (US), Matrox (Canada), Motorola Solutions (US) among others.
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