Market Size of Video Processing Solutions Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 17.25 Billion |
| Market Size (2029) | USD 39.28 Billion |
| CAGR (2024 - 2029) | 17.90 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Video Processing Solutions Market Analysis
The Video Processing Solutions Market size is estimated at USD 17.25 billion in 2024, and is expected to reach USD 39.28 billion by 2029, growing at a CAGR of 17.90% during the forecast period (2024-2029).
The rollout of 5G networks globally is anticipated to transform the video streaming industry. 5G's high-speed and low-latency connections will improve the quality of video content, thus increasing the appeal of video processing solutions and stimulating the market. With its smooth video content and quicker data-to-decision time, video processing solutions have found a possible place in various industrial applications, including security & surveillance, streaming & broadcasting, and others.
- With more streaming services becoming available yearly, the streaming market constantly expands. By 2030, the streaming market will reach USD 330 billion, increasing the demand for video processing solutions. Observations from the US revealed people watched 169.4 billion minutes of streaming video in a single week in February 2022. Approximately 85% of households in the United States now have access to at least one video streaming service. As the internet and connected devices like smartphones, tablets, and interactive displays become more widely used for video-on-demand applications among the global population, video processing solutions are expected to grow at a healthy rate in the coming years.
- A video surveillance system using video analytics software can identify several events. For instance, Airport Council International (ACI) adopted OpenCV, the video processing solution for object detection and object tracking. According to ACI, most airports have around 20 aircraft movements per hour, which reaches one move per minute during peak hours. To manage ground traffic in the airport, once a plane lands, the plane's location should be tracked, which is accomplished by coordinating with the pilot and monitoring movement on the airport's CCTV network. The built-in CCTV system for plane detection scenarios was integrated with video processing capabilities to automate the operation.
- Since a vast amount of data is generated from video processing, cloud technologies are being used to store this. However, these cloud-based systems offer more security than in-house systems, so the companies don't easily invest in video processing solutions. Moreover, processing video information, particularly in areas such as surveillance and video analysis, can raise privacy and security issues. Additionally, adherence to data protection regulations may hinder this market, resulting in slower growth and opportunities.
- The COVID-19 outbreak fueled the growth of the stay-at-home economy, and consumer preferences shifted toward online entertainment. Video streaming services saw an exploding demand, so streaming providers were compelled to spend more money on new content, especially originals. Many streaming operators adopted video processing solutions to ensure a seamless and error-free digital experience at every level of the content distribution lifecycle. The demand for the video processing solutions market will remain strong during the studied period.
Video Processing Solutions Industry Segmentation
Video processing solutions facilitate the display of multiple video cameras on one monitor or the rotation of numerous video views on a monitor used by security cameras. Video processing solutions employ statistical analysis and image recognition to complete face recognition, image pattern recognition, and human-computer interaction tasks. Video intelligence software users can use various analytics to improve video searchability, usability, and quantification.
The video processing solutions market is segmented by solution (software, services), by deployment (on-premise, cloud), by application (security & surveillance, streaming & broadcasting), by industry (media & entertainment, defense, government/homeland security), and by geography (North America, Europe, Asia-Pacific).
The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| By Solution | |
| Software | |
| Services |
| By Deployment | |
| On-Premise | |
| Cloud |
| By Application | |
| Security & Surveillance | |
| Streaming & Broadcasting | |
| Other Applications |
| By Industry | |
| Media & Entertainment | |
| Defense | |
| Government/Homeland Security | |
| Other Industries |
| By Geography | ||||||
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| Rest of the World |
Video Processing Solutions Market Size Summary
The video processing solutions market is poised for significant growth, driven by the global rollout of 5G networks and the increasing demand for high-quality video content across various industries. The integration of video processing solutions in sectors such as security and surveillance, streaming and broadcasting, and others is enhancing the quality and appeal of video content. The proliferation of streaming services and the widespread use of connected devices like smartphones and tablets are further propelling the market's expansion. As video consumption continues to rise, particularly in regions like Asia-Pacific, the demand for advanced video processing solutions that can deliver high-quality, on-demand content is expected to grow robustly.
The market is characterized by a shift from traditional on-premises setups to cloud-based platforms, facilitating the storage, editing, and distribution of video content. This transition is supported by strategic partnerships and technological advancements, such as those seen with MediaKind, Net Insight, and Synamedia, which are enhancing the capabilities of video processing solutions. Despite challenges such as privacy concerns and regulatory compliance, the market is witnessing increased investment from OTT providers and content creators aiming to optimize their offerings and improve user engagement. The ongoing development of innovative solutions, like those from Akamai Technologies and Quortex Link, underscores the industry's commitment to meeting the evolving demands of video consumption and distribution.
Video Processing Solutions Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Industry Attractiveness - Porter's Five Forces Analysis
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1.2.1 Bargaining Power of Suppliers
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1.2.2 Bargaining Power of Consumers
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1.2.3 Threat of New Entrants
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1.2.4 Threat of Substitutes
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1.2.5 Intensity of Competitive Rivalry
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1.3 Impact of COVID-19 on the Video Processing Solutions Market
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2. MARKET SEGMENTATION
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2.1 By Solution
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2.1.1 Software
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2.1.2 Services
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2.2 By Deployment
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2.2.1 On-Premise
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2.2.2 Cloud
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2.3 By Application
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2.3.1 Security & Surveillance
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2.3.2 Streaming & Broadcasting
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2.3.3 Other Applications
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2.4 By Industry
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2.4.1 Media & Entertainment
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2.4.2 Defense
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2.4.3 Government/Homeland Security
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2.4.4 Other Industries
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2.5 By Geography
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2.5.1 North America
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2.5.1.1 United States
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2.5.1.2 Canada
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2.5.2 Europe
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2.5.2.1 Germany
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2.5.2.2 United Kingdom
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2.5.2.3 France
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2.5.2.4 Rest of Europe
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2.5.3 Asia-Pacific
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2.5.3.1 India
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2.5.3.2 China
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2.5.3.3 Japan
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2.5.3.4 Rest of Asia-Pacific
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2.5.4 Rest of the World
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Video Processing Solutions Market Size FAQs
How big is the Video Processing Solutions Market?
The Video Processing Solutions Market size is expected to reach USD 17.25 billion in 2024 and grow at a CAGR of 17.90% to reach USD 39.28 billion by 2029.
What is the current Video Processing Solutions Market size?
In 2024, the Video Processing Solutions Market size is expected to reach USD 17.25 billion.
