Sondrel reports that it has been awarded a significant contract for the design and supply of an ASIC for a next-generation video processing device. The extremely intricate custom ASIC design will play a key role in high-end, expert video streaming systems.
The market for enterprise video streaming offers live streaming and video hosting to several users. It is specifically engineered to have extremely low latency, resulting in an improved and superior user experience.
GrandView Research Report on Global Video Streaming market
According to a GrandView Research analysis, the global video streaming industry is expected to increase from $106 billion in 2023 to $30 billion in 2030, at a compound annual growth rate of more than 21%. The use of AI has contributed to this increase in demand, which has led to a great deal of innovation in the industry to enhance speed and security features. Many system manufacturers are choosing to create ASICs to set themselves apart from the competition in order to stay competitive. This presents a huge growth potential for bespoke ASIC design experts like Sondrel.
Graham Curren, Sondrel’s Founder, said, “We are pleased to announce this new design and supply engagement in a key growth market undergoing significant innovation and adoption globally. The technological demands across the Enterprise Video Streaming market are similar to those of the AI, Communications and Automotive markets, in that they require ultra-complex custom chips to handle their intensive processing needs. We look forward to capitalising on our proven ASIC expertise and application experience to further expand our market reach and supply custom chips for companies wanting leading-edge solutions to innovate in these markets.”
