IDC, a well-known market research firm has released its latest report on the Chinese video cloud market. According to the organization, China’s video cloud market revenue hit $4.62 billion in 2019. This figure represents a 46.3% year-on-year increase. The video cloud solution market grew faster than the cloud infrastructure market. The growth rates of the video cloud and cloud infrastructure market hit 53.9% and 45.0%, respectively.
According to IDC, this video cloud market covers a whole lot of things. It includes public cloud, private cloud, and hybrid cloud infrastructure for video application scenarios. It also includes video content distribution networks (CDN), and cloud platforms/application solutions on the video cloud infrastructure programs. Application scenarios mainly include live broadcast on-demand, media processing, smart content, audio, and video monitoring, etc.
Chinese video cloud market is evolving
IDC notes that the video cloud market is currently evolving with three main characteristics.
The public cloud, with its large resource boundaries and easy business expansion, is highly compatible with the business needs of video cloud customers. At present, nearly 90% of video cloud solutions are deployed in the public cloud.
In addition to low-level solutions such as ultra-low latency and weak network optimization, in the context of the rapid growth of video data, solutions based on artificial intelligence and big data technologies such as content review, copyright protection, and classification recommendation are gradually becoming major on-demand solutions. These are also gradually becoming the new “just need” of the live broadcast platform.
Presently, there is a consistent improvement in video cloud technology products. There is also a continuous reduction in deployment costs. With these, the video cloud is accelerating its extension from Internet video to education, e-commerce, media, finance, medical, and other vertical fields.