According to a new report pertaining to the mobile video optimization market published by Transparency Market Research, the market is projected to reach US$ 891.3 Mn in 2026, driven by an increase in the use of smartphones and tablets across the globe. The market is projected to expand at a CAGR of 8.8% during the forecast period from 2018 to 2026. The expansion of the market is attributed to increased Internet accessibility in developing countries. Asia Pacific is anticipated to lead the mobile video optimization market, followed by Europe and North America, during the forecast period.
The rise of mobile video adoption has been driven by a significant increase in the usage of smartphones. Smartphones have allowed the new trend of video consumption via screens. They make a significant volume of video content available. Cameras in smartphones also facilitate the creation of video content. Mobile video use continues to rise with the widespread use of tablets. The devices have improved the video-watching experience by providing a larger screen. They have encouraged the consumption of new forms of content, including long-form content such as movies.
It has been found that tablet users are likely to view video content nearly three times more on a daily basis on their device than smartphone users. Sales growth of tablets has slowed to some extent in recent years. The growth is now shifting toward phablets (mini-tablets), the use of which is even more focused on entertainment.
The mobile video optimization market has been segmented based on technology, end-user, enterprise size, and region. In terms of technology, the source optimization segment is expected to dominate the global market in 2018.
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Asia Pacific led the mobile video optimization market, accounting for a substantial share in 2017. China was a major revenue generating country for the market in the region. The market in North America, Europe, Middle East & Africa, and South America is also expected to expand during the forecast period.
The research study includes profiles of leading companies operating in the global Market. Key players profiled in the report include Akamai Technologies, Cisco systems Inc., Citrix Systems Inc., Ericsson (MediaKind), Flash Networks Ltd., Nokia Corporation, Openwave Mobility, Qwilt, Vantrix Corporation., and Virtual Graffiti Inc..