Pro AV Market by Type, Industry Application, and Geography - Forecast and Analysis 2023-2027

The pro AV market is estimated to grow at a CAGR of 7.92% between 2022 and 2027. The size of the market is forecast to increase by USD 113.26 billion. The growth of the market depends on several factors, including the surge in digital signage deployment, the growing popularity of e-learning, and the advancements in technology that have contributed to significant changes in various industries.

This report extensively covers market segmentation by type (products and services) and geography (APAC, North America, Europe, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021. 

Pro AV Market: Key Drivers, Trends, Challenges, and Customer Landscape

The increased use of digital signage is notably driving the pro AV (Audio-Visual) market growth, although factors such as the increased emphasis on one-on-one learning may impede the market growth. Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the market's key drivers, trends, and challenges. Although there has been a decrease in demand for the market during the COVID-19 pandemic, a holistic analysis of drivers will help companies refine marketing strategies to gain a competitive advantage.   

Key Pro AV Market Driver

The increased use of digital signage is the key factor driving the global pro audio-visual (AV) market growth. Pro AV is an essential component of digital signage. Products such as displays and sound reinforcement are used for digital signage. Signages are the primary tools used by corporates and businesses to display content to be conveyed to the target audiences. The retail industry is one of the key segments witnessing the intensive adoption of digital signage systems to influence the buying behavior of the target audience. This is achieved by promoting brand names and related products and services at several shopping points along with attractive displays of offers, new products, and enhanced services.

Another aspect of digital signage is the rise in the popularity of interactive features. Interactive digital signage attracts customers with interesting content. Interactive digital signage or touchscreen signage displays have wide applications in retail, corporate offices, transportation, exhibition halls, hotels, stadiums, and in several public spaces. The extensive use of digital signage will drive the demand for pro AV products and services, which, in turn, will drive the growth of the market during the forecast period.

Key Pro AV Market Trend

The training on the use of pro AV equipment will fuel the global pro audio-visual market growth. Established vendors of pro AV equipment train users on the use of such equipment; this trend is expected to gain traction during the forecast period. Seiko Epson Corp. offers a program that helps engineers, operators, and sales personnel develop expertise in Epson's latest AV technology. This is designed to help AV professionals acquire detailed knowledge of Epson's complete range of AV solutions and experience in the setting up, maintenance, operation, and marketing of these technologies across the pro-AV rental sector. The company's pro AV products serve the events and retail, educational, and business sectors as well.

Epson Pro AV Academy is designed for sales personnel, operators, technicians, and service engineers. The lessons will be delivered by Epson-approved instructors at academies run by Europe's leading AV-hired companies, including Lang AG and AED. Thus, training on the use of pro AV equipment is a major trend, which is expected to drive the growth of the market during the forecast period.

Key Pro AV Market Challenge

The increased emphasis on one-on-one learning is a major challenge to the global pro audio-visual (AV) market growth. The rise in popularity of one-on-one learning and homeschooling will have a negative impact on the demand for document cameras during the forecast period. One-on-one learning is an academic technique used by many educational institutions worldwide.

This method offers undivided and constant attention to students by teachers, which helps students improve their skills by acquiring high-quality content through effective interaction. It also helps address students' strengths and weaknesses consistently, as it is done on an individual basis. This learning methodology has few time constraints, and the students can learn at their own pace. Laptops and tablets are the most preferred devices for this learning methodology.

Key Pro AV Market Customer Landscape

Our analysis of the life cycle of the market indicates a movement from the innovator’s stage to the laggard’s stage. Technavio has included key purchase criteria, adoption rates, adoption lifecycles, and drivers of price sensitivity to help companies evaluate and develop growth strategies from 2022 to 2027.

Who are the Major Pro AV Market Vendors?                                     

Vendors 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 

Anixter- The company offers pro AV solutions such as audio systems, intercom, and paging equipment for security solutions from brands such as Aiphone, Bogen, Valcom, and Bosch Security Systems. 

We also have detailed analyses of the market’s competitive landscape and offer information on 20 market vendors, including :

• 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 AV Solutions Pty Ltd
• proAV Ltd.
• Samsung Electronics Co. Ltd.
• Seiko Epson
• Semtech Corp.
• Spinitar
• Synergy Measurement Technologies Pvt. Ltd.
• Vistacom Inc.

Qualitative and quantitative analysis of vendors 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 vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak. 

What is the Fastest-Growing Segment in the Pro AV Market?

The market share growth by the products segment will be significant 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.

The products segment showed a gradual increase in market share with USD 102.06 billion in 2017 and continued to grow by 2021. 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. Furthermore, our report provides a brief analysis of the historical and forecast market share and their segments along with the reasons for growth from 2017 to 2027.

The growth of this segment is primarily attributed to the increasing adoption of pro AV systems, which is driven by an increase in the global demand for the Pro AV industry.

Which are the Key Regions for Pro AV Market?

APAC is projected to contribute 41% of market growth by 2027. 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 drives the growth of the market in APAC. The shift toward the adoption of technologically advanced tools in classrooms will propel the growth of the market in the region. Government initiatives in developing countries in APAC will increase the demand for document cameras during the forecast period.

This report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. The outbreak of COVID-19 led to a decline in demand for pro-AV systems and equipment in APAC. In 2020, the outbreak of the COVID-19 pandemic adversely affected APAC's economic growth. Governments in China, India, Nepal, Pakistan, South Korea, Malaysia, Sri Lanka, Philippines, and other countries, imposed either a partial or complete lockdown to contain the spread of the pandemic in the first half of 2020. However, the lockdown restrictions were relaxed in the first half of 2020 owing to large-scale vaccination programs conducted across APAC. This led to the resumption of production activities in manufacturing industries, including those for pro AV products in the first half of 2021. Moreover, with the resumption of import and export activities, the demand for pro AV products will be met by exporting them to the US and other European countries from APAC during the forecast period. Hence the pro AV market in APAC is expected to grow positively during the forecast period.

Segment Overview

Our report forecasts revenue growth at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by type, industry application, and region.

• Type Outlook (USD Billion, 2017 - 2027)
  • Products
  • Services 

• Industry Application Outlook (USD Billion, 2017 - 2027)
  • Entertainment
  • Hospitality
  • Retail
  • Corporate
  • Transportation

• Region Outlook (USD Billion, 2017 - 2027)
  • North America
    • The U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • South America
    • Brazil
    • Argentina
    • Chile
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

 

Source: Technavio