Global Next-Gen Video Codecs Market: Introduction
The development of next-gen video codecs was done on the basis of high efficiency video coding (HEVC). Next-gen video codecs is the evolution of the basic building blocks that were already used in HEVC and various other codecs earlier. Primarily, next-gen video codecs is a hybrid, block based video coding standard within which most of the technologies are based on high efficiency video coding (HEVC).
Next-gen video codecs has the ability to predict rectangular blocks with chroma prediction whereas HVEC can only predict the square block. This has enhanced the video viewing experience of the end-user.
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Global Next-Gen Video Codecs Market - Dynamics
Rising Demand for Better Video Viewing Experience
Demand for ultra high quality and better video viewing experience has increased across the globe. Demand for 4K and ultra HD smart television has increased extensively. Players such as Amazon Prime, Netflix, and Youtube are integrating next-gen video codecs technology on their platforms so that the video viewing experience can be improved and enhanced. The rising demand for better picture and video quality is driving the growth of the next-gen video codecs market.
Rising Demand for Better Video Experience in Data-Strapped Locations
Next-gen video codecs has the ability to ensure that the high quality data can be transferred with less consumption as compared to advanced video coding AVC. Next-gen video codecs has the ability to stream high-quality video. Next-gen video codecs can push 720p at less than 1.5Mbps. With high efficiency the demand for the next-gen video codecs is rising.
Improper Network Infrastructure Hampering the Growth of the Next-Gen Video Codecs Market
Substantial demand for better viewing experiences necessitates standard network infrastructure. Many Southeast Asian countries, African countries, and South American countries lag behind due to poor network infrastructure, which do not even meet the basic global standards. This could hamper the growth of the next-gen video codecs market.
North America Expected to Dominate the Global Next-Gen Video Codecs Market
In terms of region, the global next-gen video codecs market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is expected to dominate the global next-gen video codecs market during the forecast period, due to strongest network infrastructure as compared to other regions.
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Global Next-Gen Video Codecs Market - Competitive Landscape
- In July 2019, a new real-time high-quality AV1 encoder for video collaboration was launched by Cisco Systems Inc. which reduces bandwidth when it comes to video conferencing and improves the latency issue in viewing.
- In March 2018, Alliance for Open Media (AOM) launched AV1 which is a next generation video codecs. AV1 has the ability to enhance the coding efficiency to improve the video quality for consumers.
Cisco Systems Inc.
Established in 1984, Cisco Systems Inc. designs, manufactures, and sells Internet protocol-based networking products for communications and Information Technology industries. The company is highly focused on providing video platforms which improve the video viewing experience, bandwidth, latency, and quality of the video.
Established in 2013, Bitmovin Inc. is focused toward creating best in class video development solutions. The company provides solutions such as reduced latency, chunked CMAF, DRM/content protection, monetization, and server-side ad insertion. The company in its product portfolio provides encoding, plater, and analytics.
Global Next-Gen Video Codecs Market: Segmentation
The global next-gen video codecs market can be segmented based on:
- Video Codecs Type
Global Next-Gen Video Codecs Market, by Video Codecs Type
Based on video codecs type, the global next-gen video codecs market can be divided into:
Regional analysis of the global next-gen video codecs market:
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.