The video processing platform market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 12.1% during the forecast period, to reach USD 13.5 billion by 2028 from USD 7.6 billion in 2023. The growing adoption of mobile devices and video centric product marketing strategies is expected to drive the growth of the global video processing platform market.
Major vendors in this market are based in North America, and Europe. Akamai Technologies (US), MediaKind (US), Harmonic (US), Imagine Communications (US), and Synamedia (UK) are among the leading players operating in the video processing platform market. These players have adopted various growth strategies to strengthen their position in the market. These include product launches, contracts, partnerships, mergers and acquisitions, and new product development activities further to expand their presence in the video processing platform market.
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Akamai Technologies is one of the top vendors for media delivery solutions. It offers a variety of services and solutions that are categorized into security, web performance, media delivery, network operator, and other services. Its media delivery solution, Adaptive Media Delivery, is optimized to provide consistent, high-quality video playback experiences across any screen for growing online audiences. This solution is designed to simplify player operations for content providers while ensuring quality online media playback for their clients' web or app-based streaming video and audio experiences. It is built on the Akamai Intelligent Edge Platform, which provides superior scalability, reliability, availability, and reach. Additionally, Akamai provides supplementary solutions such as Download Delivery, Media Services Live, NetStorage, and Adaptive Media Player.
This company serves a diverse range of industries such as finance, hospitality, travel, media, entertainment, public sector, retail, and consumer goods. It has a widespread customer base and operates globally with over 4,100 locations in 135 countries. The company has a significant presence in the Americas, Asia Pacific, and Europe, Middle East, and Africa.
MediaKind is one of the leading providers of innovative media technology and services that enhance user experience and enable efficient content delivery. The company is a market leader in video processing platforms, leveraging the latest technologies to provide intelligent video solutions to customers worldwide. MediaKind offers a comprehensive suite of end-to-end solutions and services to help customers operate profitably, adapt continuously, and make a difference in the industry. The company's products span across video processing and storage, video decoding, processing management and control, stream processing and modulation, and media platforms. Additionally, MediaKind offers solutions for contribution and distribution, consumer delivery, consumer experience, monetization, and engagement. One of the company's flagship solutions is the Video Storage and Processing Platform (VSPP), which offers a unified solution for cloud DVR, on-demand, and time/place-shifted services. This platform provides better performance, reduced latency, and significantly lower CAPEX and TCO, making it a valuable choice for service providers, operators, content owners, and broadcasters worldwide.
MediaKind offers a wide range of services, including media processing and delivery, contribution processing, direct-to-consumer processing, TV platforms, cloud DVR, time and place shifting, advertising and analytics, VR/360, and low-latency UHD decoding. Its services cater to various industries, including BFSI, public services, telecommunications, and media and entertainment. MediaKind operates in the Americas, Europe, Asia Pacific, and the Middle East and Africa.
Video Processing Platform Market by Component (Hardware, Platform, Services), Application (Video Upload & Ingestion, Dynamic Ad Insertion, Video Transcoding & Processing, Video Hosting), Content Type, Vertical and Region - Global Forecast to 2028
Mr. Aashish Mehra
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