Next-Gen Video Codecs Market: Industry Analysis Forecast 2030

Chetana Gardas04 Sep, 2024News

Next-Gen Video Codecs Market was valued at US$ 2.38 Bn. in 2023 and is expected to grow at US$ 11.52 Bn. in 2030. Global Next-Gen Video Codecs Market size is expected to grow at a CAGR of 25.27 % through the forecast period. A next-gen video codec is software or hardware that compresses and decompresses digital video. In the context of video compression, codec is a portmanteau of encoder and decoder, while a device that only compresses is typically called an encoder, and one that only decompresses is a decoder.