Reports
Reports
The global video encoder market is projected to expand at a promising rate from 2021 to 2031 (forecast period). The ease of connecting analog cameras to networks, the usage of cloud services to store vast amounts of data, and the deployment of high-efficiency video coding (HEVC) standards for video encoding are the main factors expected to drive the growth of the video encoder market.
Moreover, the growth of OTT services and network bandwidth optimization for cable operators are expected to provide enormous prospects for the video encoder market.
The COVID-19 outbreak is driving considerable growth in the video encoder market. The global spread of the new coronavirus has resulted in lockdowns and business closures. Partial or whole countrywide lockdowns have harmed the global economy and workforce. The restrictions that confine people to their homes are driving the demand for video streaming platforms such as Netflix, Amazon Prime, and Hotstar. Moreover, during the lockdown, the growing trend of live video streaming over the internet has raised the demand for video encoders.
Key players in the worldwide video encoder market are striving to strengthen their positions through a variety of strategies such as collaboration, mergers and acquisitions, and new products.
Some of the key players active in the worldwide video encoder market are Motorola Solutions (US), Hikvision (China), Harmonic (US), VITEC (France), CISCO (US), etc.
The convenience of connecting analog cameras is anticipated to provide several prospects for the video encoder market over the forecast period. Images are collected using analog cameras with CCD sensors and saved on local storage devices. Images that have been saved and processed can be delivered in real-time using a video encoder. Coaxial cables connect analog video cameras to video encoders, transforming analog video signals into digital video streams. Before being viewed on devices such as laptops, tablets, and computer gadgets, images must be transformed into analog forms. Analog cameras need minimal upkeep as they require separate video encoders.
Moreover, the increased demand for OTT services is expected to provide new growth prospects in the video encoder market. OTT services deliver video and audio content via the internet. Previously, the internet speed required to create these contents was exceedingly slow. Due to the negative experience, there was minimal demand for these services. However, the rise of smart TVs, computers, PCs, and laptops is expanding the OTT business. The advancements in OTT are expected to lead to greater use of video encoders, propelling the market growth.
Furthermore, cloud service usage is projected to boost the video encoder market over the forecast period. Since clouds provide a large amount of data storage capacity, it is easier for users to store data on the cloud instead of on hard drives or other physical storage devices, which helps save costs.
North America is expected to witness massive growth in the global video encoder market. High corporate investments in developing new technologies, rising urbanization, and rising trends of live video streaming and other video content over the internet have increased the need for video encoders in North America.
The Asia Pacific video encoder market is expected to grow due to the rapid adoption of surveillance technologies in the healthcare, hospitality, corporate, and retail industries. The region has emerged as a global hub for enormous investments. Moreover, ongoing advancements in communication networks, growth in the use of security cameras, and an increase in the number of manufacturing bases are expected to provide economic advantages to the Asia Pacific video encoder market.
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Video Encoder Market
