The video processing platform market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 12.1% during the forecast period, to reach USD 13.5 billion by 2028 from USD 7.6 billion in 2023. The growing adoption of mobile devices and video centric product marketing strategies is expected to drive the growth of the global video processing platform market.
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By application, the dynamic Ad insertion segment is expected to grow at the highest CAGR during the forecast period.
Traditional advertising methods like print media and outdoor ads are no longer as effective as they once were. Instead, dynamic ad insertion has emerged as a powerful technique for video streaming. This technology allows personalized ads to be inserted based on factors like user demographics and interests, creating a more tailored advertising experience. It also helps content creators monetize their video content effectively by generating revenue through advertising, sponsorship, or partnerships. Recent research by Dacast shows that video ads have grown by 46% in 2019, with live content doubling in market share. Online viewership has increased by 72%, and consumer spending on streaming services is expected to reach nearly USD 17 billion by 2022. Dynamic ad insertion allows advertisers to gain deeper insights into their audience, helping them find the right fit for their ads and creating more opportunities for engagement and better RoI. Campaign optimization can be done in real-time, making it more effective than traditional linear advertising. With the COVID-19 pandemic leading to increased online media consumption, dynamic ad insertion has become even more relevant, creating new opportunities for video processing platforms to flourish.
By content type, real-time/live segment hold a larger market size during the forecast period.
Real-time or live streaming delivers content in real-time to any device and network worldwide. These platforms are specialized in streaming live events such as sports, concerts, webinars, or conferences. They provide features like video encoding, transcoding, adaptive bitrate streaming, and robust content delivery networks (CDNs) to ensure smooth and high-quality video streaming. Streaming is the method of data transmission used while watching videos on the internet, while live streaming sends streamed video over the internet in real-time, without recording or storing it first. Vendors offer advanced and flexible technologies to cater to every live streaming use case, such as sports events, concerts, corporate training, and business conferences. Video processing vendors offer solutions for every step of the video delivery phase to enable live streaming, from signal acquisition to transcoding and processing to packaging and delivery with guaranteed adaptive bitrate streaming.
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Major vendors in this market are based in North America, and Europe. Akamai Technologies (US), MediaKind (US), Harmonic (US), Imagine Communications (US), and Synamedia (UK) are among the leading players operating in the video processing platform market. These players have adopted various growth strategies to strengthen their position in the market. These include product launches, contracts, partnerships, mergers and acquisitions, and new product development activities further to expand their presence in the video processing platform market.
Akamai Technologies
Akamai Technologies is one of the top vendors for media delivery solutions. It offers a variety of services and solutions that are categorized into security, web performance, media delivery, network operator, and other services. Its media delivery solution, Adaptive Media Delivery, is optimized to provide consistent, high-quality video playback experiences across any screen for growing online audiences. This solution is designed to simplify player operations for content providers while ensuring quality online media playback for their clients' web or app-based streaming video and audio experiences. It is built on the Akamai Intelligent Edge Platform, which provides superior scalability, reliability, availability, and reach. Additionally, Akamai provides supplementary solutions such as Download Delivery, Media Services Live, NetStorage, and Adaptive Media Player.
This company serves a diverse range of industries such as finance, hospitality, travel, media, entertainment, public sector, retail, and consumer goods. It has a widespread customer base and operates globally with over 4,100 locations in 135 countries. The company has a significant presence in the Americas, Asia Pacific, and Europe, Middle East, and Africa.
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MediaKind
MediaKind is one of the leading providers of innovative media technology and services that enhance user experience and enable efficient content delivery. The company is a market leader in video processing platforms, leveraging the latest technologies to provide intelligent video solutions to customers worldwide. MediaKind offers a comprehensive suite of end-to-end solutions and services to help customers operate profitably, adapt continuously, and make a difference in the industry. The company's products span across video processing and storage, video decoding, processing management and control, stream processing and modulation, and media platforms. Additionally, MediaKind offers solutions for contribution and distribution, consumer delivery, consumer experience, monetization, and engagement. One of the company's flagship solutions is the Video Storage and Processing Platform (VSPP), which offers a unified solution for cloud DVR, on-demand, and time/place-shifted services. This platform provides better performance, reduced latency, and significantly lower CAPEX and TCO, making it a valuable choice for service providers, operators, content owners, and broadcasters worldwide.
MediaKind offers a wide range of services, including media processing and delivery, contribution processing, direct-to-consumer processing, TV platforms, cloud DVR, time and place shifting, advertising and analytics, VR/360, and low-latency UHD decoding. Its services cater to various industries, including BFSI, public services, telecommunications, and media and entertainment. MediaKind operates in the Americas, Europe, Asia Pacific, and the Middle East and Africa.
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