Pro AV Market by Type and Geography - Forecast and Analysis 2019-2023
Global Pro AV Market: About this market
Technavio’s pro AV market analysis considers sales from both pro AV products and services. Our analysis also considers the demand for pro AV in APAC, Europe, MEA, North America, and South America. In 2018, the products segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the increasing demand for pro AV equipment for use in various applications will play a significant role in the products segment to maintain its market position. Also, our global pro AV market report looks at factors such as increased use of digital signage, rise in popularity of e-learning, and advances in technology. However, high costs and challenges of quantifying ROI, low replacement cycle, and increased emphasis on one-on-one learning may hamper the growth of the pro AV industry over the forecast period.
Global Pro AV Market: Overview
Increased use of digital signage
Digital signage displays information about attractive offers, new products, and enhanced services at various shopping points, thereby promoting brand names and related products and services. The demand for interactive digital signage or touchscreen signage display is expected to increase in the retail industry, corporate offices, transportation sector, exhibition halls, hotels, stadiums, and various public spaces. Pro AV products, such as displays, and sound reinforcement, are essential components of digital signage. This will lead to the expansion of the global pro AV market at a CAGR of over 10% during the forecast period.
Incorporation of new technologies
The increasing demand for pro AV equipment has encouraged various technological advancements. Consumers are increasingly adopting technologically advanced equipment and devices, such as 360-degree cameras, drones, and VR to develop content. The emergence of such new products and platforms has driven market vendors to integrate support for new categories, such as VR content. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global pro AV market during the forecast period 2019-2023, click here.
With the presence of several major players, the global pro AV market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading pro AV manufacturers, that include Anixter International Inc., AVI Systems Inc., AVI-SPL Inc., CCS Presentation Systems, Diversified, Ford Audio-Video LLC, New Era Technology, Telerent Leasing Corp., Unified Technology Systems, and Vistacom Inc.
Also, the pro AV market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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