Multiformat transcoders Market Estimated to Flourish by 2024

Multiformat transcoders are used for conversion of one “digital” format files into the other. By using multiformat transcoders, files can require less storage, transmission bandwidth, as the files are compressed. With advancements in video content production and increased use of internet, the multiformat transcoders market is expected to increase exponentially during the forecast period. The transcoders are basically divided into two categories as live stream process in real-time and standard process files. Companies are keen on developing software solutions for transcoders to maximize the use of multiformat transcoders resulting in profitability.

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The global multiformat transcoders is projected to increase in future due to factors such as increase in TV operators and other producers delivering live streams to Smartphone’s, tablets, and personal computers. The other factors contributing to growth of multiformat transcoders include increased number of vendors offering transcoding (cloud) options, use of internet worldwide, and high speed bandwidth. Reduction in the quality of files is the key factor restraining the growth of the market. Currently video content is delivered to multiple devices with developments supported by internet worldwide. Thus, the need for developing multiformat transcoders combined with HEVC (high efficiency video coding) has lead to availability of multiformat transcoders in near future.

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The multiformat transcoders market is segmented as by product, and by technology. Further based on the product type the classification is done as delivery and mezzanine, file and live, software and hardware, and cloud transcoding. The technology segment is further classified as HEVC, video codec’s, and 4K, among the others. The prominent players of the market include Digital Raids Corporation, Fujitsu, Arris Systems, Imagine Communications, Inc., and Telestream, Inc., among the others.

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