Advanced Video Coding (AVC), also known as H.264, is capable of compressing video data to 25% of its original size with comparable video quality. It supports high-definition resolutions such as 1080p and allows high-quality streaming of multimedia over internet and mobile networks. AVC enables seamless streaming of multimedia content across various platforms such as smartphones, televisions and laptops.
The global Advanced Video Coding 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:
Growth of streaming media services has propelled the demand for efficient video coding standards such as AVC which supports high-quality video streaming across various platforms. Major players in the streaming industry including Netflix, Amazon Prime Video, Disney+, and Hulu are increasingly using AVC to stream multimedia content over the internet with high resolution and minimum data usage. Wide adoption of AVC by streaming services is expected to drive the global market during the forecast period.
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. These players are focusing on developing hardware accelerators as well as software-based video codecs to support AVC in an efficient manner across various devices and networks.
Strength: AVC offers high compression efficiency for storage and transmission of video. It supports a wide range of applications from low bit-rate communication to high definition television broadcasting.
Weakness: AVC is dependent on patented technologies like h.264 that require licensing from MPEG LA making it difficult for new entrants. Hardware decoding acceleration is required for real-time playback on mobile devices.
Opportunity: Growth of OTT platforms and video streaming services is driving the need for high quality video compression standards like AVC. Increase in 4K and 8K video consumption will further boost the market.
Threats: Emergence of new video compression standards like HEVC and AV1 that offer better efficiency compared to AVC pose a threat. Shift towards software based video processing reduces the need for dedicated hardware accelerators.
The global Advanced Video Coding Market is expected to witness high growth over the forecast period of 2023 to 2030. 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.
North America dominates the market currently due to high penetration of streaming platforms and presence of key players. The Asia Pacific region is expected to grow at the fastest pace led by increasing streaming subscriber base in India and China.
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it