The global pro AV market was valued at USD 250 billion in 2019 and is expected to reach USD 330 billion by 2026, expanding at a CAGR of around 11 % during the forecast period, 2020–2026. The use of digital signage systems across various industries such as retail to increase sales and target the right audience is increasing. With growing content, the businesses are being helped by the rising popularity of interactive digital signage systems. In corporate offices, stadiums, retail, transportation, exhibition halls, and several public places the interactive digital signage systems have found various applications. For digital signage system pro AV is one of the most important system. During the forecast period, the demand for pro AV products is expected to increase, with the growth of digital signage systems.
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For applications such as conferencing that includes video and audio, virtual events, command and control centers, corporate events, tradeshow exhibitions, and digital signage the pro AV which uses audio and video products and services is used. New devices such as drones, virtual reality equipment, and 360-degree cameras are being adopted by the consumers continuously. The development of new exclusive content for these devices is encouraged due to the rising popularity of such devices. To provide support for new categories such as 360-degree videos, market manufacturers are integrating new features in their products. The growth of global pro AV market is expected to rise due to growing adoption of such specialized content during the forecast period.
Market Trends, Drivers, Restraints, and Opportunities:
- Adoption of new technologically advanced devices such as virtual reality equipment is the major factor contributing to the growth of the market during the forecast period.
- Increasing popularity of specialised content is expected to drive the growth of the market.
- Factors such as growing popularity of e-learning may influence the growth of the market during the forecast period.
- Growing use of digital signage system is one of the important factors driving the growth of the market.
- Heavy investments and technological advancements in R&D by the vendors is propelling the market growth.
- Rising adoption of mobile platforms is expected to influence the growth of the market.
- Increasing emphasis on one-on-one learning may act as a restrain for the growth of the market.
Major companies in the global pro AV market include Anixter International Inc., Vistacom Inc., Diversified, AVI Systems, Unified Technology Systems, AVI-SPL Inc, Ford Audio-Video LLC, New Era Technology, CCS Presentation Systems, and Telerent Leasing Corporation. Companies in the pro AV market are engaging in strategies such as R&D, collaborations, and agreements to gain market share. The competition in this market is continuously intensifying due to the regional players coming up with new and effective strategies against the large multinational companies.
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The Global Pro AV Market has been segmented on the basis of
- Asia Pacific
- North America
- Middle East & Africa
- Latin America
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Table of Contents
- Executive Summary
- Assumptions and Acronyms Used
- Research Methodology
- pro AV market Overview
- Global pro AV market Analysis and Forecast by Type
- Global pro AV market Analysis and Forecast by Application
- Global pro AV market Analysis and Forecast by Sales Channel
- Global pro AV market Analysis and Forecast by Region
- North America pro AV market Analysis and Forecast
- Latin America pro AV market Analysis and Forecast
- Europe pro AV market Analysis and Forecast
- Asia Pacific pro AV market Analysis and Forecast
- Middle East & Africa pro AV market Analysis and Forecast
- Competition Landscape
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