Multi-Viewer Monitoring System Market is Anticipated to Record a Valuation of US$ 1,554.1 million by 2028, Recent Study by The Insight Partners

NEW YORK, Aug. 25, 2021 /PRNewswire/ -- According to our new research study on "Multi-Viewer Monitoring System Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Component, Application, End User, and Geography," market is projected to reach US$ 1,554.1 million by 2028 from US$ 1,113.1 million in 2021; it is expected to grow at a CAGR of 4.9% during the forecast period of 2021 to 2028.

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The rising adoption of OTT has considerably assisted the video, music, podcast, and audio streaming categories. The narrow genre selections, packaging flexibility, wider device availability, internet penetration, and overall cheaper costs are all contributing to increased acceptance of OTT. Furthermore, the growing need for personalized content is resulting in increased OTT device adoption rates. The OTT market is being driven by the ongoing commoditization of sporting and entertainment services, as well as increased competition among OTT providers. According to Deltatre's 2019 edition of "The Future of Sports Entertainment," sports content distributors throughout the world are investing roughly 15% of their entire operating budget to develop the OTT technology stack. Furthermore, firms providing OTT platform services are investing in the development and licensing of their content rather than just being seen as platforms for accessing movies and TV episodes. As a result of this situation, traditional television and the OTT business are now in direct competition. The deployment of innovative technology within the platforms ratchets up the rivalry. For example, in June 2019, Dabby, an AI-based search engine device, was released to assist in the discovery of popular shows available on services/platforms.

North America held the largest share in the multi-viewer monitoring system market followed by APAC and Europe. The US, Canada, and Mexico are the major economies in North America that have witnessed growth in their industrial sectors, including film & entertainment. The US entertainment industry includes TV subscriptions, movie theatres, live production, electronic home video production, and distribution and consumption. With the rising penetration of digital content and other mentioned entertainment services, the scope of multi-viewer monitors will also rise. In the region, the US is known for adopting technologies at an early phase. Therefore, live production is getting fueled exponentially across the country. Rise in use of automation to make systems accessible to everyone and easy to use; use of MIDI controllers; broader adoption of control panels, including hardware, software, and touch screens; and remote production are new latest trends that would help in revolutionizing the live production.

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In North America, the US is anticipated to grow at the fastest CAGR. The US is a technologically advanced country known for adopting advanced technologies at an early phase. The country has immense presence of multi-viewer monitoring solutions providers within its territory, which generates huge opportunities the market growth. Barco; Rohde & Schwarz; Evertz; and Mividi, Inc. are some of the companies existing in the US multi-viewer monitoring system market. Moreover, the trend of IP streaming, video walls, and use of advanced systems for enhancing security & surveillance is prevailing in the US market a high rate, which is projected to influence the use of multi-viewer monitors.

Growth of Over-the-Top Streaming to Propel Multi-Viewer Monitoring System Growth in Coming Years

The increasing growth of the OTT streaming business, multi-viewer monitoring system vendors are also offering customized OTT solutions. For example, Mediaproxy Pty Ltd provides a software-based IP multiviewer solution for monitoring live streams from broadcast and over-the-top (OTT) sources. LogServer, an OTT stream monitoring tool, is also available from the company. With built-in recording, multi-channel review, and confidence monitoring, the solution delivers seamless interaction with OTT sources, giving broadcasters an easy-to-deploy solution for handling internet-based feeds. To handle the surge in OTT, TAG Video Systems has upgraded the error source recording features and capacity of its multiviewer and monitoring platform. Thus, the growth of the OTT streaming industry is expected to contribute to the growth of the multi-viewer monitoring system market over the forecast period.

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Multi-Viewer Monitoring System Market: End User Overview

Based on the end user, the multi-viewer monitoring system market is segmented into media and entertainment, military, enterprises, retail, and other end users. The media and entertainment industry is one of the largest end users of multi-viewer monitoring systems, owing to the high volume of channel monitoring requirement by broadcasting corporations. Due to their high flexibility and low latency features, multi viewer monitoring systems are easily adaptable in various end use scenarios.

Multi-Viewer Monitoring System Market: Competitive Landscape and Key Developments

Barco; Cinegy LLC; Evertz; Grass Valley Canada; Lawo AG; Mividi, Inc.; RGB Spectrum; Rohde and Schwarz, Inc.; Stream Labs; and TAG V.S. LTD. are among the key market players in the global multi-viewer monitoring system market. The leading companies are focusing on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.

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In 2021, 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.

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