The global video transcoding market size is valued at USD 1,600 million in 2021 and is poised to grow at a significant CAGR of 15.0% over 2022–2028. Video transcoding is the process of transferring a digital-to-digital or analog-to-analog media file from one format to another. When the target device does not accept the format or when storage capacity is limited, this is the standard process. Transcoding allows data to be converted into the appropriate format while also reducing file size. A video transcoder converts existing digital video footage to a different digital format so that it can be seen on a device. Video transcoding, for example, is the process of converting an MP3 audio file to a WMV file.
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The global development of online media content offerings on the internet and mobile platforms is predicted to enhance demand for video streaming services. Video encoding and transcoding equipment is critical for delivering media material to end users more quickly over the internet. A video encoder converts analogue video content to a digital version that may be seen on the internet and on mobile devices. A video transcoder, on the other hand, is a device that converts existing digital video footage to another digital format for seamless operation. Video transcoding, for example, is the process of converting an MP3 audio file to a WMV video file. Another important element of this market is that, as cloud technologies become more widely adopted, demand for software-based video encoders and transcoders will rise. Some software suppliers have recently begun to offer these services via the cloud approach. However, replacing obsolete hardware-based encoders and transcoders with new technology-based devices is the market's biggest problem. This issue is particularly prevalent in the media and entertainment, as well as the telecommunications industries, where it is difficult to replace equipment on a regular basis due to its high initial cost.
The global video transcoding market segmentation:
1) By Product Type: H264, H265, VP9, AV1, JPEG2K.
2) by End User/Application: Media & Entertainment, Enterprise, Individual, Others
Owing to the huge number of significant competitors in the region, such as VBrick Systems, Inc., Imagine Communications Corporation, Intel Corporation, Encoding.com Inc., NVIDIA Corporation, and others, North America dominated the global video transcoding market in 2018. Furthermore, due to the region's developing media and entertainment industry, Asia Pacific is predicted to be the fastest growing region in the video transcoding market over the forecast period. In the media and entertainment industries, video transcoding is commonly employed.
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Some of the major key players in the Video Transcoding Market are HaiVision Systems, Cisco Systems, Imagine Communication, VBrick Systems, Wowza Media, Bosch Security Systems
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