The High Efficiency Video Coding (HEVC) market was valued at USD 1.2 billion in 2024 and is projected to grow at a CAGR of 12.5% to reach USD 3.46 billion by 2033. This growth is driven by technological advancements, changing consumer preferences, and an emphasis on sustainable practices, with the broadcast and surveillance sectors being key application areas. The report provides an analysis of market trends, drivers, challenges, and competitive landscape, including key players like Hikvision, Cisco Systems, and Harmonic.
HEVC remains a material encoding market, with the report sizing it at $1.2 billion in 2024 and projecting $3.46 billion by 2033. For streaming and video infrastructure teams, the relevant signal is where demand concentrates: broadcast and surveillance, plus higher-resolution 4K and 8K segments. The competitive set is also clear, with Hikvision, Cisco Systems, Harmonic, ATEME, and others all named in the landscape. Next to watch: whether the next report update keeps the same 2026-2033 CAGR of 12.5% and the same segment mix.
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