The advanced video coding (AVC) market has witnessed significant growth over the past few years owing to the increasing demand for high definition video content across various industry verticals. AVC also known as H.264 is an industry standard for video compression that offers around twice the compression efficiency of its precedents. AVC enables the storage and transmission of HD content at reasonable bit rates and offers better video quality on display screens. It allows content providers, broadcasters, and cable operators to deliver high definition video over limited bandwidth networks.
The global advanced video coding (AVC) market is estimated to be valued at US$ 3.81 Bn in 2024 and is expected to exhibit a CAGR of 4.8% over the forecast period 2024-2031.
The increasing usage of smart devices and growing popularity of OTT platforms have fueled the demand for high quality video content that requires efficient video compression technologies like AVC.
Key Takeaways
Key players: 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, Qualcomm Incorporated.
Key opportunities: The increasing investments by technology giants in the development of more efficient video coding standards present significant growth opportunities. Furthermore, the rising adoption of 4K and 8K televisions is anticipated to drive the demand.
Global expansion: North America dominated the market in 2024 owing to the early adoption of advanced technologies. However, the market in Asia Pacific is expected to grow at the fastest pace during the forecast period due to the growing media and entertainment industry in the region.
Market drivers: The increasing demand for high definition video content across industries and surging popularity of OTT platforms are the key drivers anticipated to fuel The Advanced Video Coding Market Growth over the forecast period. Furthermore, the growing penetration of smart devices is also expected to boost the adoption of AVC technology.
Get more insights on Advanced Video Coding (AVC) Market
For Enhanced Understanding, Dive into the Report in the Language that Connects with You
French | German | Italian | Russian | Japanese | Chinese | Korean | Portuguese
About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)