The surge in demand for multiscreen video-on-demand application, growth in security & surveillance monitoring spending, and technological advancement in video processing solutions are some of the major factors driving the growth of the video processing solutions market. Media and entertainment industry is the primary user of video processing solution for real-time video streaming with high-quality network bandwidth. Moreover, increased demand for high definition 4K picture quality has influenced the broadcaster to implement video processing solutions for augmented customer satisfaction.

- In recent years, video processing solution has found a potential place in various industrial applications such as security & surveillance, streaming & broadcasting, and others offering seamless video content and faster data-to-decision time.

- Additionally, video processing solutions offer end-to-end video solutions such as IP conversion, streaming, video storage, and analytics approach for better video outputs.

- As the internet and connected devices like smartphones, tablets and interactive displays are experiencing higher adoption for video on demand applications among the global population, the market for video processing solutions is expected to grow at a healthy rate in the coming years.

- According to World Bank Group, North America and Europe region have more than 80% of the population have access to the internet on a daily basis and a better per capita expenditure compared to other regions; which implies market opportunity for the vendors in the video processing solution market.

Key Market Trends

Surge in Demand for Multi-screen Video-on-Demand Application

- The world has seen massive growth in the adoption of online video streaming. According to the Office of Communications (Ofcom), Netflix and Amazon Prime made more than GBP 1 billion revenue in the UK market for the year 2018, which has crucially affected home based broadcasting companies in the country. This has created a sustainable growth opportunity for video processing solution providers in the European region. With a substantial number of internet users in Europe and North America regions and suitable IT environment, vendors are gaining high momentum in the market.

- The rising availability of broadband internet services helps in increasing the demand for Internet Protocol television (IPTV) when compared to conventional television services. IPTV uses various servers and video processing tools to deliver real-time streaming content to the viewers, which in turn is expected to drive the growth for video processing solutions in the coming years.

Asia-Pacific is the Fastest Growing Region for the Video Processing Solutions

- Asia-Pacific is anticipated to project the highest growth rate in the global video processing market, due to growth in demand for ultra 4K video on demand streaming and increased video surveillance in countries including India, Australia, China, and Japan.

- Over 1.2 billion internet users only in India and China are expected to provide a great opportunity to the video processing solutions providers in the region. Specifically, India with only 27% of internet users of its total population possesses high growth potential in the coming years. Hotstar Company, which has 70% of the on-demand local streaming services in India has 150 million monthly active users currently.

- Additionally, domestic security spending has been increased in the Asia-Pacific region owing to growing concerns on national threats and border issues among countries like India, Pakistan, China, and South Korea. An increased number of CCTV installations in public gathering places and airports has influenced the security agencies to implement video processing solutions for better monitoring and surveillance applications.

- According to the published article, the Wall Street Journal, in 2017 China spent USD 120 billion (6.1% of its government spending) for domestic security purposes.

Competitive Landscape

The market for video processing solutions is anticipated to be a fragmented one with the presence of various global as well as regional players. Akamai Technologies, Apriorit Software Development Company, Imagine Communications Corp., InPixal, Kritikal Solutions Pvt. Ltd., MediaKind, Mirion Technologies, Inc., Morpho, Inc., SRI International, Surf Communications Solutions Ltd., Synamedia, The MathWorks, Inc., and Vantrix Corporation are some of the major players present in the current market. The market study forecasts that all these players are involved in competitive strategic developments such as partnerships, new product innovation and market expansion to gain leadership positions in the global video processing solutions market in the coming years.

- April 2019 - SRI International awarded contract from the US Army to deliver a sensor integrated custom camera module for better night vision video delivery. This contract is expected to showcase SRI’s expertise in offerings of image and video processing solutions for defense applications.

- January 2019 - Morpho, Inc. declared partnership with Nekojarashi Inc., a leading cloud service provider for a creative purpose, to develop powerful video processing tool on the cloud platform. This partnership will boost Morpho’s capability in cloud-based video processing solutions.

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