Market Introduction
Germany, Russia, France, the UK, and Italy are the major countries in Europe, known for large-scale industrialization and urbanization. The trend of low-cost video and on-demand subscription services is projected to propel the demand for broadcasting equipment, including multi-viewer monitoring systems. Germany is the largest market witnessing gains in digital revenue. Also, Spain and a few smaller European markets including Denmark, Czech Republic, Hungary, Iceland, Ireland, and Slovakia have marked growth in digital revenue. The region is witnessing a few strategic partnerships which are projected to create lucrative growth opportunities for the manufacturers and providers of multi-viewer monitoring systems. For instance, In April 2021, SVG US partnered with Leader for live HDR production. The UEFA Euro football championships in Europe and the Summer Olympics in Tokyo are going to take leverage of use of new technologies related to live production. Moreover, the COVID-19 outbreak is encouraging production companies and broadcasters to adjust their existing technology and focus on new remote workflows. Adoption of new technologies in live production will help in propelling the growth of multi-viewer monitors. Additionally, with the rise in the number of SMEs and large enterprises, the scope of multi-view monitoring system for conference meetings will enhance. Beginning from board room to teleconferencing, the penetration of multi-location monitors is projected to gain high traction. Moreover, high-end home theaters, control rooms, operations centers, control rooms, and other mission-critical applications are also expanding in the European region, which is projected to propel the use of multiviewer displays.
In case of COVID-19, Europe is highly affected especially Russia, UK, France, Italy, Spain, and Germany. Businesses in the region face severe economic difficulties as they had to suspend their operations or substantially reduce their activities. Due to business lockdowns, travel bans, and supply chain disruptions, the region experienced an economic slowdown in 2020 and, most likely, the impacts are expected to prevail in 2021. The European multi-viewer monitoring system manufacturers rely highly on China for supply of component. However, owing to the sudden outbreak of the pandemic and temporary closure of all economic activities both inter and intra nations, impacted the overall manufacturing process, thereby adversely impacted the market growth. Moreover, the demand for multi-viewer monitoring systems also experienced a decline during the COVID-19 outbreak. The closure of retail outlets, restrictions on production of entertainment contents in order to maintain social distancing norms resulted in the decline of demand for multi-viewing monitoring systems, thereby adversely impacting the growth of the market.
Market Overview and Dynamics
The Europe multi-viewer monitoring system market is expected to grow from US$ 275.34 million in 2021 to US$ 358.37 million by 2028; it is estimated to grow at a CAGR of 3.8% from 2021 to 2028. The major players in the Europe multi-viewer monitoring systems market are constantly investing in both organic and inorganic strategies to make innovations in their product offering and grow their geographical presence across the region. For instance, in January 2021, Samsung, RGB Spectrum, and SYNNEX Corporation collaborated to offer bundled solutions combining best-in-class video processors with high resolution displays for high-quality video walls. Similarly, in June 2021, Lawo AG partnered with Moscow-based ShowCraft—a distributor of professional audio, video, and lighting systems in Russia—to strengthen its presence with a powerful and experienced partner across the above-mentioned country. These advancements made by the major players across the Europe is expected to contribute to the growth of the market. Additionally, the market is also experiencing rise in software based multi-viewer monitoring system players. These advancements by the companies are also expected to propel the growth of the Europe market.
Key Market Segments
In terms of component, the hardware segment accounted for the largest share of the Europe multi-viewer monitoring system market in 2020. In terms of application, the other applications segment held a larger market share of the Europe multi-viewer monitoring system market in 2020. Further, the media & entertainment segment held a larger share of the Europe multi-viewer monitoring system market based on end user in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the Europe 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.; Stream Labs; and TAG Video Systems.
Reasons to buy report
Europe Multi-Viewer Monitoring System Market Segmentation
Europe Multi-Viewer Monitoring System Market - By Component
Europe Multi-Viewer Monitoring System Market - By Application
Europe Multi-Viewer Monitoring System Market - By End User
Europe Multi-Viewer Monitoring System Market - By Country
Europe Multi-Viewer Monitoring System Market - Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 275.34 Million |
| Market Size by 2028 | US$ 358.37 Million |
| CAGR (2021 - 2028) | 3.8% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Component
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
The Europe Multi-Viewer Monitoring System Market is valued at US$ 275.34 Million in 2021, it is projected to reach US$ 358.37 Million by 2028.
As per our report Europe Multi-Viewer Monitoring System Market, the market size is valued at US$ 275.34 Million in 2021, projecting it to reach US$ 358.37 Million by 2028. This translates to a CAGR of approximately 3.8% during the forecast period.
The Europe 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 Europe Multi-Viewer Monitoring System Market report:
The Europe 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 Europe Multi-Viewer Monitoring System Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Multi-Viewer Monitoring System Market value chain can benefit from the information contained in a comprehensive market report.
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