T services firm Tech Mahindra today announced that it was 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.
Video is slated to account for 90% of all 5G traffic on account of mobile video and Over The Top (OTT) streaming services. The company has appointed Naveen Kadiyala as the Global Head of the newly established ‘Video Integration and Engineering’ (VIE). He was earlier CEO, Nuovo Solutions.
With the establishment of the new VIE platform, Tech Mahindra would aim to improve its strategic position with several video distribution companies in the United States of America. This will help the company explore emerging technologies to offer cutting-edge video solutions in the 5G market space.
5G is expected to grow the global mobile media market over cellular networks from $170bn in 2018 to $420bn in 2028 ($124bn in the United States), 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 $150bn globally ($29bn in the United States).
With this investment, Tech Mahindra aims to address the growing demand for content across new age media to deliver an immersive customer experience, said the company.
Naveen Kadiyala, Global Head, Cable & Video, Tech Mahindra, said, “I hope that my earlier experience as the CEO of Nuovo Solutions will help me in this new role and enable Tech Mahindra to produce innovative digital video products and services to meet the ever growing and changing market needs.”