Recently, the world has seen a remarkable improvement in the media industry i.e. from video advertising to media streaming, however, due to the high cost of cloud transcoding services, it has been very challenging for startups and companies on a low budget who needs these services.
Since the emergence of cloud technology, the transcoding industry has grown at a very large scale. We are well known to companies like Netflix, Amazon Prime, Vimeo, Youtube, and e.t.c, who transcodes terabytes of data on daily basis, investing a large amount of their revenue on media file conversion. The current report also predicts that, by the year 2019, the transcoding market will grow by 15 percent CAGR globally, which reflects a huge scope to flourish.