According to IMARC Group latest report titled “Pro AV Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on Pro AV market outlook. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global pro AV market reached a value of US$ 2.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 3.5 Billion by 2027, exhibiting a CAGR of 4.4% during 2022-2027.
Pro audio/visual (AV) is an advanced interaction system installed for advertising, commercial sharing, and marketing. It uses electronic displays to deliver web content, videos, graphics and texts in private and public spaces. It consists of lighting and sound devices, video conferencing systems, digital signages, companion whiteboard recording equipment and projector systems. These components help in improving the overall communication and connectivity between the users and are also utilized for classroom and office presentations and on-site product demonstrations. As a result, pro AV finds widespread applications across several industries, including hospitality, education, corporate and retail.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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Rapid urbanization, along with the significant growth in the education industry, is primarily creating a positive outlook for the market. Pro AV is widely adopted for smart learning by schools, universities, and various academic institutes. Furthermore, pro AVs are installed in shopping complexes, exhibition halls, stadiums and hotels to attract consumers’ attention and influence their buying decisions, thereby strengthening the market growth. Moreover, several technological advancements, such as the integration of pro AV with cloud-computing systems and the Internet of Things (IoT), are also catalyzing the market growth. These technologies are effective for conferences, collaborations, live events, security and surveillance. Besides this, the development of 360-degree cameras, drones and virtual reality (VR) systems to offer specialized content and the improvements in the telecommunication infrastructure are anticipated to further drive the global market in the coming years.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Anixter International Inc.
- AVI Systems Inc.
- AVI-SPL Inc.
- Biamp Systems LLC
- CCS Presentation Systems LLC
- Ford Audio-Video Systems LLC
- New ERA Technology Inc.
- Professional Audio Visual Ltd.
- Solutionz Inc.
- Telerent Leasing Corp.
- Vistacom Inc.
Pro AV Market Segmentation:
Our report has categorized the market based on region, solution, distribution channel and application.
Market Breakup by Solution:
- AV Acquisition and Delivery Products
- Sound Reinforcement Products
- Conferencing Products
- Other Products
- Installation Services
- Maintenance Services
- IT Networking Services
- System Designing Services
- Other Services
Market Breakup by Distribution Channel:
- Direct Sales
Market Breakup by Application:
- Home Use
Market Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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