Video Processing Platform Market Size, Share, and COVID Impact Analysis, By Component (Hardware, Platform, Services), By Application (Video Upload and Ingestion, Dynamic Ad Insertion, Video Transcoding & Processing, Video Hosting, Content Rendering and Others), By Streaming Type (Real-Time/ Live, On-Demand), By End User (BFSI, Manufacturing, Healthcare & Lifesciences, IT & Telecommunications, Government, Education, Retail & Consumer Goods, Media & Entertainment and Others) and Regional Forecast, 2024-2032

A video processing platform is an asynchronous video solution for hosting, designing, searching and uploading images on the internet. These platforms are ideal for the purposes of teaching, communication, entertaining and allows the quick recording, control, and display of video content. Video platforms provide a variety of options for on-demand videos. These platforms also pick up the pace for live and group broadcast videos, enabling better audience interactions. It includes libraries, Software Development kits, and samples for video solutions. These products allow researchers, developers and scientists across businesses to profit from the thousands of computing cores on recent GPUs and the power of dedicated hardware units for faster video processing. Furthermore, the development in security & surveillance monitoring spending, technological advancement in video processing solutions and increase in demand for a multiscreen video-on-demand application, are some of the major factors driving the growth of the video processing solutions market. For instance,

• VPaas enterprises usually offer video DRM, which defends video from downloads. Similarly, VPaas offers other features such as, watermarking features, geo-restrictions and screen recording protection.

In addition, cloud-based platform refers to a solution that offers standardized features and several monetization models to video service suppliers. The platform also aids integrate features and models with multi-screen video infrastructure, video-on-demand, and television. Additionally, several cloud-based video processing and delivery platform providers offer solutions that run on a variety of over-the-top devices and mobile platforms. In addition, these platforms permit video service providers to bid customers on preference settings, customized video experiences, parental controls, lineup management, multilingual selection, and other features. Additionally, several mid-sized companies operating in the video processing platform market are offering solutions for SMBs with more advanced features, thus increasing competition in the market.

Impact of COVID-19 on the Video Processing Platform Market

The COVID-19 pandemic paused the growth of various economies. The lockdown boundaries and travel limitations affected multiple sectors, including automotive, electronics, healthcare, and other sectors. Furthermore, limitations imposed by governments on trade resulted in the shutting down of numerous manufacturing sites. As a result, it declined the cash flow constraints and production rate due to the unavailability of workers. Therefore, enterprises soon adopted work from home model to increase employees' productivity while conserving safety. As a result, it increases the demand for video processing platforms.

Additionally, customers are taking self-quarantine measures to ensure their safety and beware of the virus. Due to the spread of the new coronavirus, staying at home, working from home, and spending time with family have become important personal measures. However, the effect of video streaming apps amid COVID-19 is increasing as it is not restricted to one industry and is impacting other sectors as well.

Moreover, video streaming apps are gradually gaining popularity in the market. Even social media websites and apps are embracing live streaming to complement video apps. There are many features that operators use video streaming apps for. This number has increased due to the global outbreak of the pandemic. Due to the lockdown and quarantine situation, people are spending far more money on video streaming.

Key Insights

The report will cover the following key insights:

• Micro Macro Economic Indicators


• Drivers, Restraints, Trends, and Opportunities


• Business Strategies Adopted by the Players


• Impact of COVID-19 on the Video Processing Platform Market


• Consolidated SWOT Analysis of Key Players

Analysis by End User

Based on end user, the market has been categorized into BFSI, manufacturing, healthcare & lifesciences, IT & Telecommunications, government, education, retail & consumer goods, media & entertainment and others. The media & entertainment is the fastest-growing segment of the global video processing platform market owing to the quick advancements in media technologies. In the traditional media value chain, content is created for a channel that is then broadcast to observers. Sending media content to any connected device has become one of the most important trends in the broadcasting industry. The significant expansion in the video traffic from VoD services such as Amazon Prime and Netflix, live broadcasts of infotainment & entertainment outlets, video conferencing, and the modern services in the social media space are fuelling the demand for high-quality video processing platforms in the market.

Regional Analysis

The global video processing platform market has been studied across North America, Europe, Asia Pacific, Middle East & Africa, and South America.

North America is estimated to emerge as the leading video-processing platform market region over the forecast period. This growth is attributed to the growing focus of the SMEs on developing innovative video processing platforms that are combined with technological advancements like real-time advertising, video streaming, video analytics, Artificial Intelligence (AI), and Machine Learning (ML).

However, the Asia Pacific regional market is projected to experience significant growth over the forecast period owing to the increasing scope of live-streaming videos and video-on-demand over online video platforms in the media & entertainment sector as the penetration of the internet continues to rise across the region. User-created video content on free video-introducing platforms, including YouTube, is becoming greatly popular on the online video platform. The Asia Pacific region is expected to be the leading beneficiary of the trend as the region has the largest population globally, and the growing internet penetration across the region is fuelling online video operator numbers. In addition, the availability of live video streaming facilities on social media sites such as LinkedIn and Facebook is improving the total number of customers over online video platforms.

The distribution of the video processing platform market by region of origin is as follows:

• Asia Pacific – 26%


• North America – 49%


• Europe – 16%


• The Middle East and Africa – 6%


• South America – 3%

Key Players Covered

The key players in the market include Amagi, Imagine Communications, Apriorit, NVIDIA, InPixal, Pixel Power, MediaKind, MediaMelon, Akamai, Vantrix, Synamedia, Kaltura, and others.

Segmentation

Key Industry Developments

• July 2022: Waymark announced the launch of a scalable machine learning platform to fasten the speed video creation for OTT and TV companies to produce, script and modify videos in minutes. This has formed an extraordinary demand for fetching video content on shorter timelines with moderate or no increase in available resources.


• May 2022: Zuddl launched Zuddl Studio- a video streaming platform that allows agencies, freelancers, and businesses to make broadcast-quality video content. It enables coordinators to produce and stream high-quality video content for events.