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Advanced Video Coding or AVC is a video compression standard used in various digital media formats like streaming video, web television, digital broadcasting to provide HD quality video. AVC helps reduce the Bit rate required for delivering a high quality video content to consumers by using efficient video compression techniques. 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:
The increasing popularity of high definition video applications and platforms providing live streaming in HD formats has propelled the growth of AVC market. Technologies like AVC are able to support high resolution videos while maintaining optimum bandwidth requirements which is an important capability for successful delivery of HD videos over network. The efficient compression offered by AVC standard allows supporting HD quality videos across various streaming platforms driving its increasing adoption rate amongst major players in the streaming video industry.
SWOT Analysis
Strength: AVC provides high quality video at relatively low bit rates. It supports a wide range of applications from low bit-rate communications to high-definition television broadcasts.
Weakness: AVC is computationally complex which requires more processing power. Its complexity increases for higher resolutions. Patent royalties are also required to implement the standard.
Opportunity: Increasing demand for OTT video and video conferencing solutions during the pandemic has created opportunities for growth. Emerging applications in virtual reality and augmented reality also provide new opportunities.
Threats: Newer codecs like HEVC and VVC offer better compression capabilities which can threaten AVC’s adoption rate over time. Additionally, geopolitical tensions among countries impact technology adoption.
Key Takeaways
The global Advanced Video Coding (AVC) market is expected to witness steady growth.
North America dominates currently due to high demand for OTT video services and increased investments in video infrastructure by telecom operators. Asia Pacific is expected to grow at the fastest pace during the forecast period led by countries like China, Japan and India.
Key players operating in the AVC market include 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 and ZTE Corporation. These players are focusing on advancing their codec solutions and developing partnerships with content providers and device manufacturers.
Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
