Asia-Pacific Multi-Viewer Monitoring System Market
The presence of developing economies such as China, India, South Korea, Malaysia, the Philippines, and Taiwan helps in making Asia a developing region. Stable economies and technological advancements support the growth of diversified industries and markets in Asia. The multi-viewer monitoring system market players in the region are experiencing significant demand for their products due to rise in disposable income of individuals, better internet infrastructure, and willingness to spend on subscription fees. Moreover, change in technology structure, competitive environment due to presence of different entertainment platforms, and rise in customer inclination toward digital content are among other factors likely to impact the growth of multi-viewer monitoring system market in Asia. As the penetration of internet and mobile technologies in Asia is increasing, the inclination of consumers toward OTT platforms such as Netflix and Amazon Prime is growing. This inclination will assist in boosting the broadcasting demand, thereby boosting the adoption of multi-viewer monitoring systems for creating and commercializing digital content. Additionally, in Asian economies, the era of IP based streaming networks is booming which has permitted broadcasters and service providers to ramp up their operations faster. As now consumers have a luxury to watch any content irrespective of place and time, their expectation has reached the highest level of service. This factor is encouraging the broadcasters to have a reliable system for broadcasting to avoid problems related to jitter, packet loss, operational production violations & encoding impairments. Thus, companies such as Evertz, Lawo, and RGB Spectrum are offering multi-location monitoring systems for broadcasting and many other purposes, including on-the-road productions, houses of worship, conferences and events, flyaway packs, PayTV, linear playout, and over-the-top CDN.
In case of COVID-19, APAC is highly affected especially India. APAC is characterized by many developing countries, a positive economic outlook, high residential and industrial presence, huge population, and rising disposable income. All these factors make APAC a major growth driving region for various markets, including multi-viewer monitoring system market. The lockdown of various factories in China affects the global supply chains and negatively impacts development, delivery schedules of various products and services. Even as the factories in China are beginning to reopen, several businesses have reduced or hit pause on their operations. The region comprises of several developing countries, which consist of large number of retail complexes as well as a huge broadcasting industry. The temporary closure of all economic activities announced by the respective government bodies has led to the decline in demand for advanced technologies sand solutions across the industries thereby negatively impacting the market growth. Moreover, the travel restriction imposed across the nations have also led to the disruption of supply chain of both manufacturing components and fined products from major economies like India and China. These factors have negatively impacted the market due to the outbreak of COVID-19.
Strategic insights for the Asia-Pacific Multi-Viewer Monitoring System provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 316.93 Million |
| Market Size by 2028 | US$ 498.58 Million |
| Global CAGR (2021 - 2028) | 6.7% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Component
|
| Regions and Countries Covered | Asia-Pacific
|
| Market leaders and key company profiles |
The geographic scope of the Asia-Pacific Multi-Viewer Monitoring System refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The APAC multi-viewer monitoring system market is expected to grow from US$ 316.93 million in 2021 to US$ 498.58 million by 2028; it is estimated to grow at a CAGR of 6.7% from 2021 to 2028. Surge in broadcasting industry is expected to fuel the market growth. 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. Additionally, numerous broadcasting equipment suppliers are developing and enhancing their products to improve broadcasting quality, thereby supporting the industry's growth. For instance, Sencore announced improvements to the audio, video capture, and closed captioning functionalities of the VB440—an uncompressed video over IP monitoring system—in June 2021. Support for SMPTE 2110-31 compressed audio, 5.1 and 7.1 multichannel configurations, and room meter analytics are among the new audio features. Thus, the above-mentioned advancements made by the broadcasting equipment manufacturers in contributing to the growth of the broadcasting industry are propelling the growth of the APAC multi-viewer monitoring system market.
In terms of component, the hardware segment accounted for the largest share of the APAC multi-viewer monitoring system market in 2020. In terms of application, the other applications segment held a larger market share of the APAC multi-viewer monitoring system market in 2020. Further, the media & entertainment segment held a larger share of the APAC multi-viewer monitoring system market based on end user in 2020.
A few major primary and secondary sources referred to for preparing this report on the APAC multi-viewer monitoring system market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Barco; Cinegy LLC; Evertz; Grass Valley Canada; Lawo AG; Mividi, Inc.; RGB Spectrum; Rohde & Schwarz GmbH & Co.; and Stream Labs.
The Asia-Pacific Multi-Viewer Monitoring System Market is valued at US$ 316.93 Million in 2021, it is projected to reach US$ 498.58 Million by 2028.
As per our report Asia-Pacific Multi-Viewer Monitoring System Market, the market size is valued at US$ 316.93 Million in 2021, projecting it to reach US$ 498.58 Million by 2028. This translates to a CAGR of approximately 6.7% during the forecast period.
The Asia-Pacific Multi-Viewer Monitoring System Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia-Pacific Multi-Viewer Monitoring System Market report:
The Asia-Pacific Multi-Viewer Monitoring System Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia-Pacific Multi-Viewer Monitoring System Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia-Pacific Multi-Viewer Monitoring System Market value chain can benefit from the information contained in a comprehensive market report.
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