Pro AV (Audio-Visual) Market is Projected Reach USD 7.92 billion by 2029, G
The pro AV (audio-visual) market , which had a value of USD 3.2 billion in 2021, is anticipated to grow by USD 7.92 billion by 2029, with a CAGR of 12.00% during the forecast period. The market report created by the Data Bridge Market Research team includes in-depth expert analysis,
The effects of artificial intelligence are just now starting to be realised in fields like natural language processing, speech-to-text, machine learning, and predictive analytics. Professional AV systems, which are most helpful in conferencing and cooperation, are beginning to converge with artificial intelligence. When installed securely, it can let organisations start meetings, make video conferences, and share real-time data.
Pro AV is a sophisticated audio-video system integration utilised in the business world. Pro AV uses a variety of components, including those for displays, cameras, audio, devices, controllers, room schedulers, whiteboards, and more sophisticated choices like digital signage. Together, these elements enhance communication and collaboration across offices in two distinct locations.
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Drivers
Intervention of smart learning in education sector augments market growth.
Significant growth in the education industry, combined with rapid urbanisation around the world, is one of the key factors driving the market’s positive outlook. Pro AV is widely used in smart learning systems in schools, universities, and other academic and research institutions that employ multi-touch high-definition (HD) televisions (TVs).
They improve in-class experience by enhancing real-time blended teaching and learning and augmenting visualisation and creativity. As a result, professional AVs are installed in shopping malls, exhibition halls, hotels, and stadiums to attract consumers’ attention and influence their purchasing decisions, thereby promoting market growth.
The rapid advancements in the digital signage systems
The use of digital signage systems to increase sales and target the right audience is growing in industries such as retail. The growing popularity of interactive digital signage systems is assisting businesses with growing content. Interactive digital signage systems have various applications in corporate offices, stadiums, retail, transportation, exhibition halls, and other public places. One of the most important systems for digital signage is pro AV. With the growth of digital signage systems, demand for pro AV products is expected to rise during the forecast period.
Opportunity
Technological advancements in line with this trend may enable manufacturers to make significant gains over the forecast timeline. Integration of telecommunication applications such as Skype, as well as rising consumer demand, will contribute to the growth of the pro AV (audio-visual) market in the above-mentioned timeframe.
COVID-19 Impact on Pro AV (Audio-Visual) Market
The COVID-19 pandemic has had a limited impact on the pro AV markets. This is due to the fact that demand for pro AV is higher in some sectors, such as education, healthcare, and others; however, demand has decreased in industries such as transportation, media and entertainment, and government, among others.
During the pandemic, demand for pro AV products increased dramatically in the education sector, as many educational institutions shifted to a hybrid education system in which students can receive face-to-face training online. Pro AV products such as cameras, audio devices, and computers can be used to teach and monitor students in hybrid education. Several educational institutions have already chosen hybrid education.
Global Pro AV (Audio-Visual) Market Scope
Type
Displays
AV Acquisition and Delivery
Projectors
Sound Reinforcement
Conferencing
Others
Application
Home Use
Commercial
Education
Retail
Other
Distribution channel
Direct sales
Distributors
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Some of the major players operating in the pro AV (Audio-Visual) market are:
Anixter Inc. (U.S.)
Wesco (U.S.)
AVI Systems (U.S.)
AVI-SPL, LLC (U.S.)
Biamp Systems (U.S.)
CCS Presentation Systems (U.S.)
Ford Audio-Video, LLC (U.S.)
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