The Latin America, Middle East and Africa Video Processing Platform Market would witness market growth of 17.9% CAGR during the forecast period (2021-2027).
There are numerous advancements taking place in the media and entertainment industry that have resulted in TV broadcasting to more dynamic broadcasting under which videos can be watched on-demand. Through video processing platforms, TV broadcasters can scale up their operations and prepare themselves for the future. In addition, video processing platforms help broadcasters and service providers in improving their video-on-demand (VoD) processing operations and enhancing reliability & quality by introducing automation. Additionally, they improve the experience quality, streamline operations, and offer a future-proof platform. It complements high-fidelity visual & audio processing, with video-on-demand and live video.
The increasing popularity of various OTT platforms across various nations of this region is one of the major aspects propelling the regional market growth. In addition, a video processing platform is a flexible and cost-efficient method to offer audience with the advanced live streaming and live-to-VoD (video on demand) multiscreen services, which enhance customer satisfaction and build brand loyalty.
Due to these features, companies are increasingly adopting this platform and augmenting the growth of the regional video processing platform market over the forecast period. In addition, the increasing requirement for multi-device compatible video along with the better infrastructure to deliver high-quality video would create lucrative opportunities for the market players and hence, fueling the growth of the regional video processing platform market during the forecast period.
The growing demand for high-quality videos, the increasing requirement for transcoding to provide videos to more end-users, and multi-device compatible video needs are among the key aspects fueling the growth of the video processing platform market. In addition, several mid-sized players operating in the video processing platform market which are providing solutions to SMEs with more advanced capabilities, which increases the competition in the market.
The Brazil market dominated the LAMEA Network Operators Video Processing Platform Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $72.2 million by 2027. The Argentina market would witness a CAGR of 18% during (2021 - 2027). Additionally, The UAE market is estimated to grow at a CAGR of 17.2% during (2021 - 2027).
Based on Component, the market is segmented into Platform, Hardware and Services. Based on Application, the market is segmented into Video Upload & Ingestion, Video Transcoding & Processing, Dynamic Ad Insertion, Video Hosting and Content Rendering & Others. Based on Content Type, the market is segmented into Real-Time/Live and On-Demand. Based on End User, the market is segmented into TV Broadcasters, Network Operators and Content Providers. Based on Vertical, the market is segmented into Media & Entertainment, Manufacturing, BFSI, IT & Telecom, Education, Retail & Consumer Goods, Healthcare & Life Sciences and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Video Processing Platform Market is Predict to reach $13.9 Billion by 2027, at a CAGR of 15.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Akamai Technologies, Inc., NVIDIA Corporation, Qumu Corporation, SeaChange International, Inc., Ateme S.A., MediaKind, JW Player, Inc., Kaltura, Inc., MediaMelon, Inc., and Imagine Communications, Inc. (Harris Broadcast).
By Component
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