Next-Gen Video Codecs Market: The Future of Video Compression Technology
The global Next-Gen Video Codecs Market is experiencing transformative growth, driven by advancements in video streaming, entertainment, and communication technologies. With the increasing demand for high-quality video content and the need for more efficient compression solutions, the market is expected to continue expanding at an impressive rate. According to a recent report from Maximize Market Research, the market is anticipated to reach new heights, with substantial mergers, acquisitions, and technological innovations shaping its future.
Estimated Growth Rate for Digital Identity Solutions Market:
Next-Gen Video Codecs Market was valued at US$ 2.38 Bn. in 2023 and is expected to grow at US$ 11.52 Bn. in 2030. Global Next-Gen Video Codecs Market size is expected to grow at a CAGR of 25.27 % through the forecast period.
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Key Market Insights
- High-Demand Areas: Key drivers include increased usage of OTT platforms, UHD video streaming, and video conferencing services.
- Technological Advancements: Adoption of AV1, HEVC, and VVC technologies is set to revolutionize video quality and compression.
Mergers and Acquisitions in the Video Codec Market
The Next-Gen Video Codecs Market has witnessed several notable mergers and acquisitions globally, signaling a competitive and highly innovative landscape. Here are some of the latest updates:
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Key Developments in Vietnam, Thailand, and Singapore
- Vietnam: In 2024, a local technology firm specializing in video codec software development, VTC Tech, merged with a leading digital solutions provider, Cyberlink Technologies, to enhance video compression technology for the Southeast Asian region.
- Thailand: True Corporation acquired a stake in a major video streaming company, AISPlay, focusing on leveraging next-gen video codecs for more efficient data usage on mobile networks.
- Singapore: A strategic acquisition by StarHub, a telecommunications giant, of VdoCipher, a cloud-based video streaming platform, is set to boost Singapore’s position as a leader in high-definition video streaming using next-gen codecs.
Digital Identity Solutions Market Segmentation:
by Channel
Single Channel
Multi-Channel
by Video Codecs Type
AVC
AV1
HEVC
VP9
VVC
Updates from Japan and South Korea
- Japan: Japanese tech company Sony Corporation has entered into a joint venture with Qualcomm, integrating AV1 codec technology into its latest smart TVs and streaming services, boosting video quality while reducing bandwidth usage.
- South Korea: Samsung Electronics has made significant investments in VVC (Versatile Video Coding) technology to enhance its next-generation mobile streaming solutions, positioning itself as a leader in video compression technologies for mobile devices.
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European Countries and the US: Major Market Moves
- Germany: Deutsche Telekom has acquired a controlling interest in MPEG Industry, which focuses on optimizing HEVC codec integration into 5G networks, accelerating streaming performance.
- France: In a move to bolster its OTT platforms, Orange S.A. has partnered with MediaTek, investing in next-gen video codecs for seamless video delivery.
- United States: Google LLC recently merged with Bitmovin, a leader in video streaming technology, to enhance the efficiency of AV1 and HEVC codecs, focusing on improving YouTube’s streaming experience.
- United Kingdom: BBC Studios has announced a collaboration with Sky Group to utilize VVC codecs for its new Ultra High Definition (UHD) programming, enhancing picture quality while optimizing bandwidth consumption.
Key Players
1. Hikvision
2. VITEC
3. Harmonic
4. Motorola Solutions
5. CISCO
6. CommScope
7. Axis Communications
8. Dahua Technology
9. HaiVision
10. Netflix
Why Is the Market Growing?
The growth of the Next-Gen Video Codecs Market can be attributed to several factors:
- Surge in Video Streaming: The rapid growth of OTT platforms like Netflix, Amazon Prime Video, and YouTube, which demand high-efficiency video codecs for optimal streaming experiences.
- Higher Demand for 4K/8K Video Content: The increasing adoption of ultra-high-definition video content across industries such as entertainment, healthcare, and education.
- 5G Networks: The deployment of 5G networks is enabling faster data transmission speeds, encouraging the integration of advanced video codecs like VVC for seamless high-quality video streaming.
- Consumer Electronics: The rise in smart TV, gaming consoles, and smartphones using next-gen codecs for smoother and more efficient video playback.
Regional Breakdown: Opportunities Across Geographies
- Asia Pacific: The region is poised for rapid growth, driven by large-scale digital transformation in countries like China, Japan, India, and South Korea. Innovations in mobile streaming, e-learning, and entertainment are accelerating codec adoption.
- North America: With the presence of major tech companies like Google, Amazon, and Netflix, North America is a key market for advanced video codecs, focusing on improving streaming quality and reducing bandwidth usage.
- Europe: Europe’s push toward 5G connectivity and the increasing demand for UHD/4K video content are driving innovations in video codec technology, with the UK, Germany, and France leading the way.
Conclusion
The Next-Gen Video Codecs Market is experiencing significant growth, underpinned by advancements in streaming, mobile video, and broadcasting technologies. The rise of AV1, HEVC, and VVC standards is paving the way for improved video quality and reduced bandwidth requirements. With key mergers and acquisitions across regions, the market is positioning itself for a future dominated by high-definition video and efficient compression technologies.
Key questions answered in the Digital Identity Solutions Market are:
Who are the leading companies and what are their portfolios in Digital Identity Solutions Market?
What segments are covered in the Digital Identity Solutions Market?
Who are the key players in the Digital Identity Solutions market?
What is Digital Identity Solutions?
What was the Digital Identity Solutions market size in 2023?
What is the growth rate of the Digital Identity Solutions Market?
Which are the factors expected to drive the Digital Identity Solutions market growth?
What are the different segments of the Digital Identity Solutions Market?
What growth strategies are the players considering to increase their presence in Digital Identity Solutions?
What are the upcoming industry applications and trends for the Digital Identity Solutions Market?
What are the recent industry trends that can be implemented to generate additional revenue streams for the Digital Identity Solutions Market?
What segments are covered in the Digital Identity Solutions Market?
Key Offerings:
Past Market Size and Competitive Landscape (2018 to 2023)
Past Pricing and price curve by region (2018 to 2023)
Market Size, Share, Size Forecast by different segment | 2024−2030
Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Segmentation – A detailed analysis by segment with their sub-segments and Region
Competitive Landscape – Profiles of selected key players by region from a strategic perspective
Competitive landscape – Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER’s analysis
Value chain and supply chain analysis
Legal Aspects of Business by Region
Lucrative business opportunities with SWOT analysis
Recommendations
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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