Sondrel awarded new Video Processor ASIC design and supply contract for a leading provider of High-Performance Video systems
Reading UK - 9 May 2024 Sondrel (AIM: SND), a leading provider of ultra-complex custom chips for leading global technology brands, is pleased to announce that it has won a major ASIC design and supply contract for a next generation, video processing chip. The ultra-complex custom design will form a crucial part of high performance, professional video streaming solutions. The Enterprise Video Streaming market provides live video streaming and video hosting to multiple viewers and is specially designed to have very low latency that delivers an enhanced, high quality user experience.
Sondrel’s work designing and supplying a market-leading, low-latency, custom IC for a key player will enable this customer to enhance their position as an innovator in this market. The design has started and will be fully funded by the customer. Chip production and supply are anticipated to start in 2026.
A GrandView Research report projects that the Global Video Streaming market will grow at a compound annual growth rate of over 21% percent from 2023 to 2030, growing from $106 billion in 2023. This rise in demand is aided by the adoption of AI and has prompted significant innovation across the sector to improve the speed and security features. To remain competitive, many system manufacturers are opting to develop ASICs to differentiate their products, representing a significant growth opportunity for custom ASIC design specialists 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 to supply custom chips for companies wanting leading-edge solutions to innovate in these markets."
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GrandView Research reference : Video Streaming Market Size, Share & Growth Report, 2030 (grandviewresearch.com)