Tech Mahindra has announced setting up a new ‘Video Integration and Engineering’ (VIE) business unit to cater to the heavy demand of video services in the 5G ecosystem.
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 $170 billion in 2018 to $420 billion in 2028.
With the establishment of the new VIE platform, Tech Mahindra aims to improve its strategic position with several video distribution companies in the United States of America. This will help Tech Mahindra in exploring emerging technologies to offer video solutions in the 5G market space.
CP Gurnani, Managing Director & Chief Executive Officer, Tech Mahindra said, “The strategic establishment of a Video Integration and Engineering (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.”
Manish Vyas, President, Communications, Media & Entertainment Business, and the CEO, Network Services 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. 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.”
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).