Video Encoder Market

Global Video Encoder Market Size (2023 to 2028)

The global video encoder market size is expected to be worth USD 2.26 Billion in 2023. It is expected to grow at a CAGR of 5.8% during the forecast period and reach a value of USD 3.00 Billion by 2028.

The usage of video encoders can be seen in every country and the demand for video encoders has seen consistent growth in recent years.

MARKET DRIVERS:

The growing importance and rapid adoption of video encoders and the growing need for video encoders in industries and urban Areas is driving the growth of the global market. In the defense and military, government services, and banking sectors, there is an increased demand for video encoders. Also, the cloud system provides an ample number of data storage services that offer a global opportunity for the video encoder market. High-efficiency video coding (HEVC) also contributes to the growth of the global market. 

An increase in the adoption of broadcast services and surveillance system applications is contributing to the global video encoder market. The rising use of CCTV cameras in urban areas, smart cities, government service offices, and military and defense industries regarding security purposes is boosting the growth rate of the global market. The new trend of high-efficiency video coding (HEVC) has a significant impact on market growth. Region-wise market growth has also increased in every nation. The new cloud service provides excellent data storage and supports the growth of the video encoder market. The use of this service increased with the help of a cloud service. It is affordable for all, so it is a straightforward application of video encoding. The high growth rate of handheld devices like mobiles, computers, laptops, etc., boosts the overall market boom. The sale of these products has increased in the world, so it is directly affecting the Video Encoder market. 

Highly increased use of internet and intranet services is promoting market growth. The growth of video screening services is increasing day by day and the use of video screening is also growing. Availability of the best quality video streaming is easy and affordable for everyone, which drives a significant part of the market. Some sites like Amazon, Hulu, and Netflix are helping with video streaming.  The cloud service provides an ample amount of data storage, and it is affordable and easy to upgrade and implement. It offers the best quality service, hence acting as a driving factor for the Video Encoder market. Customers use the High-Efficiency Video Coding (HEVC) service, and it is a new trend service that drives the market. 

MARKET RESTRAINTS:

In the growing market of video encoders, few factors control its growth and hence are the restraints. For instance, consider the errors while transferring data and how they might affect the data transfer. Also, the second major factor is that promising OTT brands may restrict this market growth. Sometimes, the video encoder compresses the whole data, so it should be decompressed every time. 

REPORT COVERAGE:

This research report on the global video encoder market has been segmented and sub-segmented into the following categories.

Global Video Encoder Market – By Type:

• Standalone
• Rack-mounted

In the Standalone type, a minimum number of cameras are connected in the same system. On the other hand, the rack-mounted type has a large number of cameras installed for a smooth drive. 

Global Video Encoder Market – By Channel:

• 1 Channel
• 2 Channel
• 4 Channel
• 8 Channel
• 16 Channel
• More than 16 Channel

In these services, 16 channel services expected high growth over the forecast period. It’s cost-effective as well as easy to apply in a small business like the institutional, commercial and retailing sectors.

Global Video Encoder Market – By Application:

• Broadcast
• Surveillance

Broadcast is a highly used service in the Video encoder market and has a significant market share over surveillance due to better quality. Therefore, demand is likely to increase during the outlook period. 

Global Video Encoder Market – By Region:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

North America has the most significant share in broadcast and surveillance, which supports its lead in the global video encoder market. The presence of leading video encoder vendors in North America, like Matrix Graphics Inc., Honeywell Security Group, etc., is also pushing demand in the local market.

KEY MARKET PLAYERS:

In the global video encoder market,  some of the key players are Harmonic (US), Telairity (US), Hikvision (China), Axis Communications (Sweden), Haivision Systems (US) & (Canada), Dahua Technology (China), ARRIS International (US), The Vitec Group (UK), Delta Digital Video (US), Bosch Security Systems (Germany), ATEME (France), Matrox Electronic Systems (Canada), Renhotec Group (China), Cisco (US, NOORSAT (Bahrain), Primecom Technologies (US), izzi telecom (Mexico), BT Sport (London), Teleste Corporation (Finland) and ACTi Corporation (Taiwan). In the Video Encoder market, Harmonic, a US-based company, is in a leading position across the world.

RECENT HAPPENINGS IN THE MARKET:

• In May 2018, Adobe Industry released an update to Premier Pro, including hardware acceleration for Nvidia GPUs. 
• In Jan 2020, Z3 tech performance video was encoded, and recorders delivered up to 4K Ultra HD and H.264 video at a staining performance level.