According to a new market report pertaining to the media (video) processing solutions market published by Transparency Market Research , the media (video) processing solutions market (North America, Europe, Asia Pacific, Middle East & Africa, and South America) is projected to reach US$ 27,439.1 Mn by 2026. The market is projected to expand at a CAGR of 14.4% during the forecast period from 2018 to 2026. Growth of the market is attributed to improving infrastructure to deliver high-quality videos. Asia Pacific is anticipated to lead the media (video) processing solutions market, followed by Europe during the forecast period.
Data access for streaming live videos has increased greatly due to advancements in broadband services, enabling viewers to experience improved video quality without any lag in real time. The U.S. Federal Communications Commission (FCC) has implemented a plan to improve Internet access in the U.S., which states that at least 100 million homes in the country should have affordable access to the actual speed of 100 Mbps by 2020.
Moreover, introduction of several streaming media devices such as Google Chromecast (Google Inc.), Apple TV (Apple TV), Slingbox (Sling Media), NVidia Shield (NVIDIA Corporation), and Fire TV (Amazon Inc.), has transformed the viewing experience across mobile devices such as smartphones, tablets, and laptops to a great extent.
Increasing use of mobile TV services has a significant impact on live video. Video service providers have an opportunity to deliver streaming services through mobile phone networks and terrestrial television stations.
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Media (Video) Processing Solutions Market: Scope of the Report
The global media (video) processing solutions market has been segmented on the basis of solutions, components, enterprise size, content type, end-user, and region. Within the solutions segment, platforms are expected to dominate the global market in 2018.
Asia Pacific led the media (video) processing solutions market, accounting for substantial share in 2017, with China and India being the major markets for media (video) processing solutions in the region. The media (video) processing solutions market in North America, Europe, Middle East & Africa, and South America is also expected to grow during the forecast period.