The global pro AV market was valued at over $104 billion in 2015 and is expected to surpass $181 billion by 2020, says Technavio.
Technavio has announced its latest market research report on global pro AV market to its consumer electronics portfolio. This market analysis discusses the major drivers and key emerging trends that will influence the growth of the global pro AV market during the forecast period. Some of the top vendors listed in this industry analysis include Advanced AV, AVI-SPL, Technical Innovation, Unified AV Systems, and Vistacom.
In terms of geographical analysis, North America will be the largest region in the global market, reaching revenues of over $60 billion by 2020. The US will emerge as the key revenue-generator in this region.
“Many industries in this market are using camera drones and 360°cameras for videography. The development of the video platform supporting 360° videos and virtual reality (VR) content will lead vendors to develop content using these devices to meet consumer requirements. There will also be adoption and integration of specialized content with the AV ecosystem during the forecast period,” says Ujjwal Doshi, a lead analyst at Technavio for research on consumer electronics.
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The new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Increased demand for controlled systems
The advancement in technology will enable AV devices to be interconnected with the process automation for all connected devices. Control systems take control of all the connected AV equipment and other related accessories like display screens, PCs, microphones, lights, and cameras. The control systems are designed to facilitate the AV process and ensure smooth functioning in meetings, events, and other collaborations. There is a demand for controlled meeting and teaching spaces in end-user like corporate offices, education institutions, and government agencies. For instance, these systems used in a board meeting before the presentation, a one-touch command system can close the screens and drapes, dims lights and manages ventilation, automatically select the input device, and start the presentation and project it using a display device.
Increasing adoption of digital signage content management software
The market is witnessing an exponential increase in the demand for digital signage content management software. The availability of out-of-the-box pro AV equipment and digital signage content management software helps small and medium-sized businesses (SMBs). It enables easy and direct implementation of digital signage for their business without any customization. The availability of easy to use digital signage content management software has enabled many retail players to use digital signage for their brands.
Growth in movie industry
Movie makers and production houses launching movies and films with enhanced visual effects, 3D effects, and IMAX theater presentations to improve the experience of the moviegoers. The advances in home theater set up and in television series is encouraging vendors to develop AV systems that enrich the presentation and offer better video and audio qualities.
Some of the other prominent vendors identified in this report are AVI Systems, Avidex Industries, CCS Presentation, CEI Communications Engineering, Compview, Digital Networks Group, Diversified Systems, Ford Audio-Video, Sharp’s Audio Visual, Spinitar, and Tritech Communications.
