Transparency Market Research
Global Multiformat Video Players Market: Overview
Multiformat video players have gathered enormous steam among viewers watching video in various formats such as SD and HD. The need for potentially powerful program to support 360-degree video to 8K formats has made way for several video players. These programs provide good hotkey and codec support. A wide assortment of multiformat video players has hit the market with advanced controls to improve the look and sound of videos. The drive for better and seamless viewer experience irrespective of streaming source is catalyzing improvements in the functionalities and features. The integration of intuitive features with multiformat video players is also likely to enhance the customer experience. Multiformat video players have also gathered steam for watching HD videos streamed from different sources. Rising demand for such video players in the entertainment industry is boosting prospects in the market. Furthermore, the advent of highly customizable multiformat video players that can be downloaded free is a key trend opening new, exciting avenues in the market. However, the lack of configuration options mat dampen the uptake of some multiformat video players.
In recent years, several small players have forayed into the global broadcasting industry. This has increased the demand for free multiformat video players. The publishing industry is also not shy of investing in feature-intensive multiformat video players. Growing expertise in advanced graphics in video making has also bolstered the demand for multiformat video players. Growing IT funding into the broadcasting industry is also catalyzing the demand for multiformat video players.
Video players have grabbed high attention over the last few years and made a majority of computer users involved. Multiformat video players offer a turnkey solution to publishers and broadcasters. They support a diverse range of file formats including advanced systems format (ASF), audio video interleave (AVI), windows media video (WMV), flash video (FLV), and Matroska video (MKV).
From scheduling, production, distribution, and presentation to business management; multiformat video player solutions leverage decades of broadcast and IT workflow expertise, which helps in managing the content, engaging the audience, and realizing new revenue streams. It also helps broadcasters, distributors, and media companies monetize their content while providing an engaging, superior, and better end-user experience based on live and on-demand video services. Multiformat video players help in broadcasting high-quality content on HD and UHD screens and video walls. These video players are specifically designed to meet digital signage needs such as modest graphics, advanced networking, and excellent scheduling capabilities. For example, Keres Technologies’ K-Player provides optimal high definition (HD) and standard definition (SD) rendering options. Also, K-Player enables inserting of signals in any existing technical infrastructure.
Publishers and broadcasters are demanding advanced solutions to improve the quality of display standards. Broadcasting industry have led to the entry of several small & medium enterprises (SMEs), owing to development of advanced solutions such as automatic clip skipping and stretching and trimming for accurate timed events. Furthermore, the publishing industry is investing in multiformat video players to deliver graphics with improved quality to users. The number of broadcasters has risen at a high pace in the last few years, due to introduction of advanced graphics types and resolution standards. Increased need for improved-quality graphics is anticipated to drive the multiformat video players market in the next few years. Moreover, the latest trend in the market is rise in the number of broadcast channels worldwide. Rise in IT investments in the broadcasting industry is anticipated to offer lucrative opportunities to the multiformat video players market across the world, especially in North America.
The global multiformat video players market can be segmented based on deployment model, enterprise size, end-user, and region. Based on deployment model, the multiformat video players market can be categorized into on-premise and cloud-based. In terms of end-user, the multiformat video players market can be divided into film production, commercials, television production, and others (streaming platform productions). The commercials segment has been sub-divided into gaming industry, animated films, advertising industry, and others. Based on enterprise size, the multiformat video players market can be segregated into SMEs and large enterprises.
In terms of region, the global multiformat video players market can be segmented into North America, South America, Europe, Asia Pacific, and Middle East & Africa. Among these, North America is anticipated to hold a major share of the global multiformat video players market during the forecast period. This is attributable to significant penetration of multiformat video players in the region. In addition, presence of a large number of companies in North America is another major factor promoting large-scale adoption of multiformat video players in the region. The multiformat video players market in Asia Pacific and Europe is expected to witness lucrative growth opportunities during the forecast period, owing to increasing adoption of multiformat video players in the broadcasting industry in these regions. It is also attributable to increasing technology expenditure in countries such as Australia, China, and India; high demand for cost-effective multiformat video players among small & medium enterprises in Asia Pacific and Europe. Furthermore, the multiformat video players market in Middle East & Africa (MEA) and Latin America is also expected to expand at a significant rate during the forecast period.
Major players operating in the global multiformat video players market are Keres Technologies, Axel Technologies, AdPlayer.Pro, Telestream, LLC, Vimond Media Solutions AS, Softonic International S.A., VidPlayVST, Techonloop, Inc., and SMPlayer.
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