Next-Gen Video Codecs Market Outlook 2024-2030: Future Growth and Opportunities

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Next-Gen Video Codecs Market was valued at US$ 2.38 Bn. in 2023 and is expected to grow at US$ 11.52 Bn. in 2030. Global Next-Gen Video Codecs Market size is expected to grow at a CAGR of 25.27 % through the forecast period.

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Software or hardware that compresses and decompresses digital video is known as a next-generation video codec. When it comes to video compression, the terms "codec" and "encoder" are interchangeable. An encoder is a device that only performs compression, whereas a decoder is a device that only performs decompression.

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The global next-gen video codecs market, valued at $2.38 billion in 2023, is set to experience remarkable growth. Forecasts predict an impressive compound annual growth rate (CAGR) of 25.27% through the forecast period, with the market expected to reach $11.52 billion by 2030.

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by Channel
Single Channel
Multi-Channel

by Video Codecs Type

AVC
AV1
HEVC
VP9
VVC

In 2023, the HEVC sector will have the biggest market share based on the kind of video codecs. A sophisticated technology called High Efficiency movie Coding, or H.265 reduces the size and compresses your movie. While maintaining similar image quality, it halves the bitrate requirements at the cost of more computing complexity. HEVC encoders can compromise on computational complexity, compression rate, error-resilience, and encoding delay time, depending on the needs of the application.

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Advanced software or hardware solutions intended for the compression and decompression of digital video are referred to as next-generation video codecs. These codecs, which employ complex algorithms like high-efficiency video coding (HEVC), are essential for improving video compression and quality. These codecs achieve high compression rates by using "lossy compression," which greatly improves the video experience for the end user.

The market study explores a number of categories, such as channel, type of video codec, and distribution region, offering a thorough examination of the quick changes reshaping the sector. A thorough analysis has been conducted on important data from market participants and geographies, including North America, Asia Pacific, Europe, Middle East & Africa, and South America.

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North America: Expected to witness significant growth due to its advanced network infrastructure and high R&D activities. The presence of tech giants like Apple, Google, and Microsoft, along with a rising number of smartphone users, further propels the market.

Asia Pacific: With burgeoning software markets and manufacturing hubs in China, India, and Japan, the APAC region is anticipated to see a rise in demand for next-gen video codecs.

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Growing Need for Improved Video Experience: The demand for enhanced video coding standards is being driven by the world's burgeoning thirst for high-definition TV, mobile video distribution, and multimedia apps. To enhance video quality and watching experiences, industry heavyweights like Amazon Prime, Netflix, and YouTube are implementing next-generation video codec technology.

Effectiveness in Data Transmission: Next-generation video codecs guarantee the delivery of high-quality data with less usage, which is crucial for areas with restricted bandwidth. Because these codecs are efficient, they can broadcast 720p video at less than 1.5 Mbps, which creates demand.

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1. Hikvision
2. VITEC
3. Harmonic
4. Motorola Solutions
5. CISCO
6. CommScope
7. Axis Communications
8. Dahua Technology
9. HaiVision
10. Netflix
11. Amazon Prime
12. YouTube
13. Flir Systems
14. Bosch Security Systems
15. Matrox
16. Netposa
17. Sumavision
18. ATEME
19. Tieline Technology

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