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The Pro AV market size is projected to grow by USD 134.17 million, at a CAGR of 8.61% between 2023 and 2028. Several pivotal factors contribute significantly to market expansion. Among these are the heightened adoption of digital signage, the burgeoning prevalence of e-learning, and the continuous strides in technology. These elements collectively fuel the market's growth trajectory. The increased integration of digital signage solutions across various industries amplifies their effectiveness in communication and advertisement, driving market demand. Simultaneously, the growing preference for e-learning platforms reflects evolving educational paradigms, creating a burgeoning market niche. Furthermore, continual technological advancements bolster infrastructure, enhance user experiences, and broaden market opportunities. As these factors synergize, they propel market expansion, fostering innovation, and transforming industries across the global landscape.
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The products segment is estimated to witness significant growth during the forecast period. Displays are used for digital signage, a form of electronic display that delivers videos, web content, images, and texts in public and private environments for information-sharing, advertising, and marketing. In terms of revenue, the market for AV projectors is likely to experience growth during the forecast period. The growth is attributed to the increasing use of projectors by most sectors, such as education, corporate, hospitality, healthcare, and government.
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The product segment was the largest segment and was valued at USD 107.15 million in 2018. Sound reinforcement refers to systems that comprise a combination of microphones, amplifiers, loudspeakers, and signal processors to enhance the loudness of pre-recorded or live music, thereby making it effective in reaching the mass audience. Moreover, the slow growth of this market segment is attributed to the shift in end-user preference from large, expensive hardware-based equipment to flexible and affordable software-driven solutions. Conferencing involves high-cost or complex installation processes, owing to which this segment is losing its share and prominence.
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APAC is estimated to contribute 41% to the growth of the global industry during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The growth of the education sector in the Asia-Pacific (APAC) region is driving the pro AV market. The adoption of advanced technology in classrooms and government initiatives in APAC countries, particularly China, is increasing the demand for document cameras. In addition, the corporate sector is also embracing advanced tools. For instance, the Government of Karnataka in India is expanding its smart classrooms, and NorthCap University in India introduced fully integrated smart classrooms. The demand for pro AV projectors and displays is rising in the region. Furthermore, the utilization of digital signage is increasing, driven by key economies like China, Japan, and South Korea, as global retailers expand their businesses in APAC and the e-commerce industry challenges brick-and-mortar stores. Such factors will increase the market growth in this region during the forecast period.
The market is at the forefront of revolutionizing various sectors, including the entertainment industry, education industry, and corporate events. With a focus on delivering immersive experiences, the demand for professional-grade equipment is soaring. Conferences, concerts, and corporate events rely on top-notch video conferencing solutions and professional audio systems, including Pro Speakers, Sound Mixers, and Power Amplifiers. As technology advances, the integration of 4K and 8K video technologies enhances video projection and video displays. Immersive audio systems create captivating environments, while wireless technology and IoT integration streamline operations in both the entertainment and government sectors. Embracing e-learning practices, the Pro AV market continues to push boundaries, delivering unparalleled experiences across diverse platforms. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increased use of digital signage is a key driver boosting the market growth. Professional audio-visual (pro AV) technology plays a crucial role in the realm of digital signage. This encompasses items like displays and sound systems, which are instrumental in conveying messages to businesses and organizations. Among these, the retail industry is a standout domain where digital signage finds heavy usage to influence consumer behavior. It does so by showcasing brands and their offerings through captivating presentations of deals, new arrivals, and improved services at various retail points.
Additionally, interactive digital signage is gaining prominence, captivating audiences with engaging content. These interactive displays are widely applicable in retail, corporate offices, transportation hubs, exhibition centers, hotels, stadiums, and public spaces. The increasing adoption of digital signage is set to boost the demand for pro AV products and services. Hence, such factors positively impact the pro audio-visual market. consequently fueling the growth of the global pro AV market in the forecast period.
The training for pro AV equipment is one of the major Pro AV market trends shaping the market growth. Prominent suppliers of professional audio-visual (pro AV) equipment are increasingly focusing on user training, a trend that is projected to gather momentum in the foreseeable future. Seiko Epson Corp. has introduced a comprehensive program designed to cultivate expertise among engineers, operators, and sales staff in the latest AV technology offerings.
Moreover, this initiative aims to equip AV professionals with in-depth knowledge about Epson's entire spectrum of AV solutions, covering setup, maintenance, operation, and marketing across the pro AV rental sector. Its scope extends to the events, retail, educational, and corporate sectors. The Epson Pro AV Academy caters to sales personnel, operators, technicians, and service engineers, with instruction provided by Epson-certified trainers at academies operated by leading AV rental companies in Europe, such as Lang AG and AED. Hence, such factors positively impact the pro audio-visual market. Furthermore, the emphasis on pro AV equipment training stands as a prominent trend set to propel the growth of the global market in the forecast period
Increased emphasis on one-on-one learning is a key challenge hindering the market. The growing favor for one-on-one learning and homeschooling is poised to adversely affect the demand for document cameras in the foreseeable future. One-on-one learning, a globally adopted pedagogical approach, offers students uninterrupted, personalized attention, fostering skill enhancement through high-quality content delivery and effective interaction. This method consistently addresses individual students' strengths and weaknesses, granting flexibility and self-paced learning. Laptops and tablets serve as the primary tools in this approach.
Moreover, one-to-one learning initiatives are expanding worldwide through programs like Microsoft's Anytime Anywhere learning and One Laptop per Child, with pilot programs established in various US states. The escalating popularity of these personalized learning methods, in tandem with the homeschooling trend, is expected to negatively impact the growth of the global professional audio-visual Pro AV market in the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Arista Networks Inc: The company offers a wide range of vinyl records, such as coloured vinyl, etched vinyl, inkspot vinyl, picture vinyl, and others, under the subsidiary of Optimal Media GmbH.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments
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The market is witnessing a seismic shift across various sectors, including entertainment sector, government sector, commercial sector, and educational institutions. From retail stores to corporate houses, businesses are leveraging AV systems design and integration firms to enhance customer engagement and employee training. With the rise of remote working and telemedicine, UCC solutions and telemedicine platforms are becoming indispensable. AR applications and VR simulations are revolutionizing retail spaces and interactive classrooms, while IoT sensors and AI integration optimize security and personalized user experiences. Amidst concerns about security risks and data breaches, networked devices and real-time dashboards play a crucial role in AV systems. Display technologies like 4K resolution screens and OLED displays alongside immersive sound systems are reshaping live performances and commercial real estate experiences. Whether it's government offices or small businesses, the Pro AV market offers a spectrum of solutions for global enterprises seeking to thrive in the digital era.
Market Scope |
|
Report Coverage |
Details |
Page number |
157 |
Base year |
2022 |
Historical year |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.61% |
Market growth 2023-2027 |
USD 134.17 million |
Market structure |
Fragmented |
YoY growth (%) |
7.82 |
Regional analysis |
APAC, North America, Europe, South America, and the Middle East and Africa |
Performing market contribution |
APAC at 41% |
Key consumer countries |
US, Canada, China, Japan, and UK |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
Anixter International Inc., Applied Electronics Ltd., Arista Networks Inc., Audinate Group Ltd., AVI SPL LLC, AVI Systems, Avidex Industries LLC, CCS Presentation Systems, Diversified, Ford Audio-Video LLC, Godrej Interio, New Era Technology, Pro Audio Visual (AV)Solutions Pty Ltd, proAV Ltd., Samsung Electronics Co. Ltd., Seiko Epson, Semtech Corp., Spinitar, Synergy Measurement Technologies Pvt. Ltd., and Vistacom Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the market forecast period. |
Customization purview |
If our market forecasting report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Industry Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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