HEVC market reaches $1.2 billion, eyes $3.46 billion by 2033
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.
Key Takeaways
- 2024 HEVC market value: $1.2 billion, with a forecast of $3.46 billion by 2033.
- The report projects a 12.5% CAGR for HEVC from 2026 to 2033.
- Broadcast and surveillance are the key application segments in the study.
- The report profiles 10 companies, including Hikvision, Cisco Systems, Dahua, Axis Communications, and Harmonic.
- Segment coverage includes 4K, 8K, and Other across North America, Europe, APAC, Latin America, and the Middle East & Africa.
Why It Matters
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.
Read full article at marketsizeandtrends.com
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