Tech Mahindra, which is a software tech major company today has revealed that they are going to set up with a new business unit to leverage the cutting edge technology and solutions to cater the needs and expected heavy demand of the video services in the 5G ecosystem.
With the establishment of the new “Video Integration and Engineering” (VIE) platform, Tech Mahindra said it would now be going to aim to improve its strategic position with a wide range of video distribution companies in the US.
“The strategic establishment of the VIE platform will help us increase our expertise in developing niche applications and services as well as cater to the exponentially growing digital video services market,” CP Gurnani, Managing Director and CEO of Tech Mahindra said in a statement.
According to the report which says that the video will account for the 90 percent of all the 5G traffic mainly on account of mobile video and Over The Top streaming services.
5G services are expected to grow the global mobile area market over the wide range of cellular networks from the $170 Billion in 2018 to $420 Billion in 2028.
Consumers nowadays spend most of their time on music, video, and games on the smartphone, and this is going to be nearly double by the end of 2028 to reach almost $150 Billion across the globe.
“Our endeavor is to speed up the digital transformation of video for our clients and help reduce the costs and open up other revenue generation avenues for our clients and partners,” said Manish Vyas, President, Communications, Media and Entertainment Business, and the CEO, Network Services at Tech Mahindra.
