The North America Video Processing Platform Market would witness market growth of 15.2% CAGR during the forecast period (2021-2027).
The demand for various video processing solutions and services is also estimated to surge with the growing number of internet users across the globe. The growing consumption of digital media content has created lucrative opportunities for content providers and network operators, which increase the revenue along with dynamic advertisement insertion. This improvement in the digital advertising domain is estimated to open new growth prospects for video processing platform vendors in the market over the forecast period.
Moreover, digital media consumption has substantially surged around the world in the last few years. Along with that, the growing number of devices that support digital media and the increasing access to the faster internet and smart devices are helping consumers to access different media content such as entertainment, information or social activity from any place and at any time. For this purpose, several digital devices are available in the market but mobile devices are the most popular medium of consuming digital media content. The number of smartphones has increased in the past few years, which is accelerating the demand for video processing platforms.
There are many early adopters of various cloud and mobile technologies in developed nations like the US in this region, which is increasing the adoption of video processing platforms. In addition, companies are increasingly adopting video processing platforms to improve the employee experience and overcome the business continuity challenges during the global lockdown. Due to this, the demand for video processing platforms would increase in this region.
Moreover, the rising number of internet users is leading to the increasing popularity of OTT media services that would accelerate the demand for new video content, and hence, fueling the demand for video processing platforms. Additionally, growing internet penetration and the high adoption of the latest technologies are among the key factors bolstering the growth of the regional video processing platform market. Along with that, the introduction of 5G technology is estimated to fuel the demand for video processing platforms over the forecast period.
The US market dominated the North America Video Processing Platform Services Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $740.3 million by 2027. The Canada market is experiencing a CAGR of 19.9% during (2021 - 2027). Additionally, The Mexico market would witness a CAGR of 19.1% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Video Processing Platform Market is Estimated 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
By Application
By Content Type
By End User
By Vertical
By Country
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