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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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.
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.
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.
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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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.
The global next-gen video codecs market can be segmented based on:
Based on video codecs type, the global next-gen video codecs market can be divided into:
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