The aim of Video Integration and Engineering (VIE) platform would be to enhance Tech Mahindra’s strategic position with various video distribution firms in the US
Tech Mahindra, a leading provider of information technology and networking technology solutions, announced on Friday that it is setting up a new business division in order to leverage the advanced technology and solutions to serve the probable huge demand of video services in the soon to be launched 5G ecosystem.
The software major is establishing a new Video Integration and Engineering (VIE) platform. The aim of the VIE platform would be to enhance its strategic position with various video distribution firms in the US.
To enhance expertise in developing niche apps
Commenting on the development, CP Gurnani, Managing Director and Chief Executive Officer, Tech Mahindra, said, “The 5G revolution will unlock unprecedented opportunities in every industry vertical. The strategic establishment of a 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.”
“The Video Engineering platform is in line with Tech Mahindra’s strategy to implement TechMNxt – the Global program designed by pre-empting and anticipating our customer’s evolving and dynamic needs,” he added.
Manish Vyas, President, Communications, Media and Entertainment Business, and the CEO, Network Services at Tech Mahindra, said, “As part of our TechMNxt charter focusing on next gen technologies like 5G – Network of the Future, we plan to enhance our expertise in Video Integration and Engineering to amplify our digital solution offering by enabling production, integration and distribution of video content over next gen networks.”
Revenue generation opportunities
Vyas further said, “Our endeavour 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.”
As per some industry reports, video will make up for around 90 per cent of all the traffic on 5G network, primarily on account of over-the-top (OTT) streaming and mobile video services. 5G is likely to grow the world mobile media market over cellular networks to US$ 420 billion by 2028 from US$ 170 billion in 2018, at a compound annual growth rate (CAGR) of 9.8% over the next 10 years.
Consumer spending for video, games and music on mobile is expected to double by 2028 to reach nearly US$150 billion worldwide.
With investment in the new business unit, Tech Mahindra is aiming to address the increasing demand for content across the new age media for delivering an immersive customer experience.
