July 25, 2024
Ict

Hardware Accelerated Video Coding is fastest growing segment fueling growth of the Advanced Video Coding (AVC) Market

Advanced Video Coding (AVC) or H.264 refers to video compression standards which helps in reducing file size of videos maintaining high quality. It enables advanced compression techniques for encoding and decoding videos in high definition which provides advantages like efficient storage and transmission.

The global Advanced Video Coding (AVC) Market is estimated to be valued at US$ 3.46 Bn in 2023 and is expected to exhibit a CAGR of 4.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
One of the major trends driving the growth of the Advanced Video Coding (AVC) market is the growing adoption of hardware accelerated encoding and decoding. Hardware accelerated video coding provides high-quality video content delivery with low latency and power consumption. It involves dedicated hardware chips or processors to perform complex encoding and decoding tasks instead of relying solely on the CPU. This has led to increased adoption of hardware accelerated solutions across various end-use verticals like OTT platforms, consumer electronics, surveillance cameras, and IP cameras among others.

Segment Analysis

The global advanced video coding (AVC) market is segmented into hardware and software. The hardware segment is expected to dominate the market during the forecast period. This is because hardware devices like set-top boxes, Blu-ray players, smartphones, and tablets require AVC codec for encoding and decoding video streams efficiently. The widespread adoption of these devices drives the demand for AVC hardware.

Key players operating in the advanced video coding (AVC) market are Apple Inc., Cisco Systems Inc., Google LLC, Microsoft Corporation, Intel Corporation, NVIDIA Corporation, Amazon.com Inc., Sony Corporation, Samsung Electronics Co. Ltd., Huawei Technologies Co. Ltd., Broadcom Inc., Panasonic Corporation, Ericsson AB, ZTE Corporation, and Qualcomm Incorporated.

Regional analysis
North America dominates the global AVC market and is expected to continue its dominance over the forecast period. This is attributed to the high penetration of over-the-top media services and online video streaming in the region. Asia Pacific is expected to be the fastest-growing regional market.

Key Takeaways
Market size
The global advanced video coding (AVC) market is expected to witness high growth, exhibiting a CAGR of 4.1% over the forecast period, due to increasing demand for online video streaming.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it