ADVANCED VIDEO CODING (AVC) MARKET ANALYSIS

Advanced Video Coding (AVC) MarketSize and Trends

The Advanced Video Coding (AVC) Market size was valued at USD 3.46 Billion in 2023 and is expected to reach USD 4.79 Billion by 2030, growing at a CAGR of 4.8%. Advanced video coding (AVC) is a video compression format also known as H.264 or MPEG-4 Part 10. It is widely used for video streaming, video conferencing, Blu-ray discs, and digital television.

Advanced Video Coding (AVC) Market Trends:

• Shift towards High-Efficiency Video Coding (HEVC): While AVC remains a popular video compression format, there is a growing trend towards the adoption of High-Efficiency Video Coding (HEVC) or H.265. HEVC offers better compression and higher quality than AVC, making it an attractive option for video streaming and other applications. For Instance, on June 15, 2021, MX Player  is an Indian video streaming and video on demand platform cuts down video streaming data consumption by half; upgrades its video encoding and compression technology to H.266
• Increasing Adoption of Cloud-Based Video Encoding: With the growing popularity of video streaming services, there is an increasing demand for cloud-based video encoding solutions. Cloud-based video encoding allows for faster and more efficient video compression, making it easier to deliver high-quality video content over the internet.
• Growing Importance of Video Analytics: With the increasing adoption of video surveillance and other applications, there is a growing importance of video analytics. Video analytics uses artificial intelligence (AI) and machine learning (ML) algorithms to analyze video content and extract valuable insights. AVC can play a crucial role in enabling high-quality video compression for video analytics applications.
• Integration with Artificial Intelligence and Machine Learning: With the increasing adoption of AI and ML technologies, there is a growing trend towards integrating these technologies with video compression solutions. AVC can play a crucial role in enabling high-quality video compression for AI and ML applications. For Instance, on October 4, 2022 Google Cloud is brings its expertise in vision-based artificial intelligence to the healthcare industry with the launch of its new Medical Imaging Suite.