The latest report by IMARC Group, titled “Pro AV Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the global pro AV market size reached US$ 2.7 Billion in 2021. Pro audio/visual (AV) is an advanced interaction system for commercial advertising, communicating, interacting, collaborating, sharing, and marketing. It is operated for electronic displays to deliver graphics, videos, web content, and texts in private and public complexes. It consists of lighting, sound devices, digital signages, display components, a camera, controller, room scheduler, video conferencing systems, companion whiteboard recording equipment, and projector systems. These components help enhance the overall communication, coordination, and connectivity between the users. As a result, pro AV is widely adopted across education, healthcare, residential, corporate, hospitality, and retail industries.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Pro AV Market Trends:
The market is primarily driven by the expanding education sector. Pro AV is widely utilized as a smart learning system in schools, colleges, universities, and other research institutions to increase creativity and visualization and enhance in-classroom experience. In addition, various technological advancements in audio and visual technology, such as the advent of the internet of things (IoT) and smart buildings, and the increasing adoption of artificial intelligence (AI), represent another major growth-inducing factor. Moreover, the rising popularity of telecommunication applications such as Skype, and smart cloud-computing systems, are positively influencing the market growth. These technologies are adopted for security, conferencing, live events, collaboration, learning, and surveillance. Besides this, pro-AVs are installed in exhibition halls, hotels, shopping centers, and stadiums to attract consumers’ attention and impact their buying decisions. This, coupled with the rising adoption of audio-visual technology by manufacturers to increase customer engagement, is propelling the market growth. Furthermore, the emergence of 360-degree drones, cameras, and virtual reality (VR) systems to offer specialized content is also creating a positive global market outlook. Looking forward, IMARC Group expects the market value to reach US$ 3.5 Billion by 2027, exhibiting a CAGR of 4.4% during the forecast period (2022-2027).
- Based on the solution, the market has been divided into products (display, AV acquisition, and delivery products, projectors, sound reinforcement products, conferencing products, and other products) and services (installation, maintenance, IT networking, system designing, and other services).
- On the basis of the distribution channel, the market has been bifurcated into direct sales and distributors.
- Based on the application, the market has been classified into home use, commercial, education, government, hospitality, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the industry has also been examined in the report, with some of the key players being Anixter International Inc. (Wesco International Inc.), AVI Systems Inc., AVI-SPL Inc., Biamp Systems LLC, CCS Presentation Systems LLC, Ford Audio-Video Systems LLC, New ERA Technology Inc., Professional Audio-Visual Ltd., Solutionz Inc., Telerent Leasing Corp. (ITOCHU International Inc.) and Vistacom Inc.
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