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A video capture is a digitized version of an external video feed. Capturing video usually requires encoding or post-production software in addition to whatever hardware is being used to transmit the original feed into its digital file format (which can include a tape deck, digital storage or a video camera).
Broadly speaking, a capture is essentially a quantized and/or compressed version of some external source. Within the scope of that description, a video capture can include a camera recording as well as that recording's transformation into an encoded, playable file. Typically, however, in the realm of video production and post production, the capture process describes when an external video feed (such as an analog signal) is digitized.
Within the context of digital video production and encoding, video captures can involve tape-to-file capturing as well as capturing from a variety of other media sources (such as the camera itself). As video technology becomes more advanced and consolidated, however, all phases of the video production pipeline (from original footage to deliverable media) are converging into turnkey, often mobile devices. Many modern consumer smartphones, for example, are capable of shooting, editing and encoding video all within their own operating system.