Video encoder and decoder market is set to witness steady growth during 2021-2031. One of the major growth drivers for the video encoder and decoder market happens to be the rise in 4K and 8K video streaming applications. Video encoding and decoding happens to be an essential component of the broadcasting and surveillance applications.
The encoding makes it much easier to transfer video over the internet. The compression helps in reducing the bandwidth required, simultaneously maintaining the quality of the video. Hence, the rising demand for high quality viewing experiences is driving the sales of video encoder and decoder market.
What is Driving Demand for Video Encoder and Decoder?
The primary factors driving the growth of the demand for video encoder and decoders include the growing use of cloud services to store a large amount of data, coupled with ease of connecting analog cameras to networks.
Moreover, the growing adoption of high-efficiency video coding standards for video encoding happens to be another major factor responsible for driving the market growth.
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Broadcasting is Expected to Hold the Largest Share of the Video Encoder and Decoder Market by Application
On the basis of application, the market for video encoder and decoders has been bifurcated in to broadcasting and surveillance. Out of which broadcasting application is anticipated to hold the largest share of the global market.
The growth of the segment can be attributed to the rapid adoption rate of various types of content available on the Internet, coupled with the emergence of advanced devices such as smartphones and tablets offering high-quality viewing experiences. This offers a significant opportunity for video encoder and decoder manufacturing companies to grow in the market at a steady rate over the forecast period.
US and Canada Video Encoder and Decoder Demand Outlook
U.S. happens to be one of the largest markets for video encoder and decoder across the globe. The growth in U.S. is attributed to the presence of established players such as Cisco, Motorola Solutions, CommScope, Harmonic, Inc., and Honeywell Security, among others in the region.
Moreover, US happens to be the most rapidly changing and competitive market across the globe. Besides, the region is also expected to adopt new technologies at a faster pace as compared to other countries in the world.
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Europe Demand Outlook for Video Encoder and Decoder
The growing adoption of surveillance technologies in the healthcare, hospitality, enterprise, and retail industries in the countries like Germany, Italy, France, and UK in the Europe region has enabled the encoder and decoder market to grow at a substantial rate over the forecast period.
Additionally, the ongoing developments in communication networks coupled with the rise in the use of security cameras happens to be the major factors driving the market growth in the Europe region. Moreover, the growing number of manufacturing bases in the region is further responsible for driving the sales of video encoders and decoders in the region.
Who are the Key Manufacturers and Suppliers of Video Encoder and Decoder?
Some of the leading providers of video encoder and decoder include
The companies operating in the market are focused on acquisitions, partnerships, and new product launches in order to strengthen their presence and enhance their product portfolio in the market. For instance, in August 2020, Motorola Solutions completed the acquisition of Pelco, one of the global provides of video security solutions.
The acquisition was aimed at strengthening the company’s market presence along in the video solutions market. Similarly, In November 2018, VITEC completed the acquisition of Telairity, a California based provider of video processing solutions. The acquisition was aimed at strengthening its presence in the broadcast market. These acquisitions also help in further broadening the company’s product portfolio in the video encoder and decoders segment.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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