Multi-Viewer Monitoring System Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Hardware, Software, and Services), Application (Live Production, Playout, and Other Applications), and End User (Media and Entertainment, Military, Enterprises, Retail, and Other End Users)
Publication Month: Jul 2021 | Report Code: TIPRE00012342 | No. of Pages: 163 | Category: Electronics and Semiconductor | Status: Published
The multi-viewer monitoring system market is expected to grow from US$ 1,113.13 million in 2021 to US$ 1,554.14 million by 2028; it is estimated to grow at a CAGR of 4.9% during 2021–2028.
Consumer desire for higher-quality video and audio has resulted in significant improvements in the broadcasting sector as products and technology have been continually enhanced over the previous few decades. With videos being produced in UHD and 4K formats, IP live production technology was developed to allow for transmission in the same format for increased viewing quality. This is especially important in live production, where system control must be fluid and efficient. Broadcasters are putting more emphasis on product development to replace traditional SDI-based settings with live production systems that provide system management and efficiency. In addition, the rising adoption of high-efficiency video coding (HEVC) standards is driving the demand for encoders in the industry. Furthermore, the emergence of multi-channel video encoders has enabled users to generate several streams, resulting in reduced system requirements.
Impact of COVID-19 Pandemic on Multi-Viewer Monitoring System Market
Although, investment in security & surveillance, retail, and media & entertainment is usually high across the region, the COVID-19 pandemic has reduced the investments by the end users in innovative and advanced products and technologies. Also, the sudden outbreak of COVID-19 led to temporary closure of manufacturing units, thereby impacting the manufacturing of multi-viewer monitoring systems by the market players. Additionally, the disruption of supply chain has adversely impacted the supply of both manufacturing components and finished products across the region. Thus, the outbreak of the COVID-19 pandemic has an adverse impact on the Multi-Viewer Monitoring System market across the world.
Lucrative Regions for Multi-Viewer Monitoring System Providers
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Multi-Viewer Monitoring System Market Insights
Rise in Adoption of Multi-Viewer Monitoring System in Various Industries Fuels Growth of Multi-Viewer Monitoring System Market
Apart from the broadcasting industry, the multi-viewer monitoring systems is experiencing a rise in adoption across various industries such as retail, military and defense, education, and aerospace. These industries are actively adopting the multi-viewer monitoring systems, owing to their wide applications, which include satellite uplink/downlink, cable head end & IPTV head end, OB vans, video walls, NOC control rooms, surveillance security information displays, and traffic and transportation applications.
Several multiviewer monitoring system providers are, therefore, customizing solutions for these industries for expanding their market share. For instance, Spy CCTV PTY LTD offers HDMI 4×1 Quad Multi-Viewer solution, which can not only seamlessly switch multi-way HD audio and video signals to a single picture but also can split the multiway signals and display them on the same monitor, with various video segmentation modes. It is widely used for multiuser video conference systems, surveillance monitoring, and retail stores. Similarly, RGB Spectrum offers multi-viewer monitoring systems for a wide range of industries such as defense, aerospace, corporate, medical, government, security, and education. Thus, the rising adoption of multi-viewer monitoring systems among the above-mentioned industries is driving the market.
Component - Based Market Insights
Based on component, the multi-viewer monitoring system market is sub-segmented into hardware, software, and services. In 2020, the hardware segment accounted for the largest share in the market.
Multi-Viewer Monitoring System Market, by Component, 2020 and 2028 (%)
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Application-Based Market Insights
Based on application, the multi-viewer monitoring system market is segmented into surface cleaning, rubber removal, paint removal, and other applications. In 2020, the surface cleaning segment accounted for the largest market share.
Strategic Insights
The players operating in the multi-viewer monitoring system market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:
- In June 2020, Moscow-based ShowCraft, distributor of professional audio, video and lighting systems in Russia, Belarus, Kazakhstan, and Kirgizia has signed a partnership agreement with Lawo, strengthening its presence with a powerful and experienced partner.
- In April 2020, Grass Valley has announced that Electronic Arts Competitive Gaming Entertainment (CGE), the company's esports division, selected Grass valley’s product GV AMPP (Agile Media Processing Platform) to enable fully distributed, remote production for its major competitive gaming events EA SPORTS™ FIFA 21 and Apex Legends.
The Global Multi-viewer Monitoring System Market has been Segmented as mentioned below:
By Type
- Hardware
- Software
- Services
By Application
- Live Production
- Playout
- Other Applications
By End User
- Media and Entertainment
- Military
- Enterprises
- Retail
- Other End Users
By Geography
North America
- US
- Canada
- Mexico
Europe
- France
- Germany
- Italy
- UK
- Russia
- Rest of Europe
Asia Pacific (APAC)
- China
- India
- South Korea
- Japan
- Australia
- Rest of APAC
Middle East & Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
South America (SAM)
- Brazil
- Argentina
- Rest of SAM
Multi-Viewer Monitoring System Market- Company Profiles
- Barco
- Cinegy LLC
- Evertz
- Grass Valley Canada
- Lawo AG
- Mividi, Inc.
- RGB Spectrum
- Rohde & Schwarz GmbH & Co.
- Stream Labs
- TAG Video Systems
Frequently Asked Questions
The List of Companies - Multi-Viewer Monitoring System Market
- Barco
- Cinegy LLC
- Evertz
- Grass Valley Canada
- Lawo AG
- Mividi, Inc.
- RGB Spectrum
- Rohde & Schwarz GmbH & Co.
- Stream Labs
- TAG Video Systems
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global multi-viewer monitoring system market.
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- The key findings and recommendations highlight crucial progressive industry trends in the global multi-viewer monitoring system market, thereby allowing players across the value chain to develop effective long-term strategies.
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- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution.
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