The multiformat transcoders market has been forecast to reach a value of $695 million by 2018, primarily driven by the growth in video content, the introduction of new distribution platforms and transcoding solutions.
Over the past two decades video technology has witnessed staggering innovations evolving from analog to digital and high definition (HD) videos. The diversity of technologies employed today in the multimedia world offers several challenges to view and share video content across disparate devices.
Given the varied video formats and transmission protocols, transcoding solutions are witnessing strong demand for streaming video content to a wide audience. Multi-format transcoding is the ability to convert one video format into another, thereby providing interoperability between multiple systems that utilise different formats.
The process involves changing the attributes of compressed video such as resolution, bit-rates, scalability and error correction capabilities to enable it to be viewed on any device.
Growth in the market is mainly driven by the exponential increase in Internet-enabled handheld devices and rise in mobile video viewership. Transcoding between different video formats has become a critical component of today's dynamic media environment.
Mobile devices usually do not support video formats available on the Internet due to their small screen sizes, varied screen resolutions, embedded processors and low battery capabilities. This format/resolution gap between Internet video and mobile device playback capability presents huge demand for video transcoding.
Against the backdrop of constantly changing technology and emerging opportunities in the form of growing penetration of multiscreen videos and on-demand content delivery platforms, opportunities in the transcoding market are expected to remain rife for agile players.
Poised to gain are companies focused on developing innovative high-quality, high-capacity transcoding solutions. In recent years, some of the small companies have evolved to become significant contenders following aggressive pricing strategies and acquiring technical expertise.
Key players currently dominating the multiformat transcoders market include ATEME, Allegro DVT, Arris Systems, AmberFin, Digital Rapids Corporation, Harmonic, Imagine Communications, and Telestream.
For more information on the multiformat transcoders market, see the latest research: Multiformat Transcoders Market
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