Tech Mahindra Ltd., a provider of digital transformation, consulting and business re-engineering services and solutions, announced setting up a new ´Video Integration and Engineering´ (VIE) business unit to leverage cutting edge technology and solutions to cater to the heavy demand of video services in the 5G ecosystem, the company said.
According to industry reports, video will account for 90 per cent of all 5G traffic mainly on account of mobile video and Over The Top (OTT) streaming services. 5G is expected to grow the global mobile media market over cellular networks from USD 170bn in 2018 to USD 420bn in 2028 (USD 124bn in the US), a CAGR of 9.8% over 10 years.
Consumer spend for video, music, and games on mobile will nearly double by 2028 to reach almost USD 150bn globally (USD 29bn in the US). With this investment, Tech Mahindra aims to address the growing demand for content across new age media to deliver an immersive customer experience.
In order to propel the growing network services portfolio, Tech Mahindra also announced the induction of Naveen Kadiyala as the Global Head of the newly established ´Video Integration and Engineering´ (VIE).
Tech Mahindra represents the connected world, offering innovative and customer-centric information technology experiences, enabling Enterprises, Associates and the Society to Riseâ¢. We are a USD 4.9 billion company with 118,390+ professionals across 90 countries, helping over 930 global customers including Fortune 500 companies.