InfoComm International, the trade association representing the commercial audiovisual industry worldwide, has released of seven research studies commissioned to investigate trends in various customer segments served by the pro AV industry.
The seven InfoComm 2015 Vertical Markets End-User Perspective Studies offer critical insight into the corporate, education, government, retail, healthcare, hospitality, and venue markets. Each in-depth study is roughly 80 pages and based on secondary research and interviews with technology end users around the world.
"These Vertical Markets Studies paint an exciting picture for AV companies that are looking to grow their businesses and meet the evolving needs of customers," said David Labuskes, CTS, RCDD, executive director and CEO of InfoComm International. "As AV professionals know, every market is different, and every end user brings a unique perspective on what makes an exceptional AV experience. These reports provide you with a direct line of sight into the mind of your prospect or customer. InfoComm hopes that, armed with this information, you can continue to meet customers' needs and drive this growing industry forward."
InfoComm commissioned Acclaro Growth Partners, which has worked in the past on the association's Global Market Definition and Strategy Study (MDSS), to conduct an international vertical markets study. Among the goals was to explore the profiles of people who buy AV goods and services and the decision-making criteria they employ.
According to InfoComm's 2014 MDSS, the worldwide market for pro AV products and services grew to $91.8 billion in 2014, up from $75.5 billion in 2012. It is projected to hit $114.2 billion in 2016.
"The more you know about your customer, the more successful you'll be at closing the deal," said James Chu, director of market research for InfoComm International. "With these insights about end-user product and technology usage, investment, decision-making and more, AV professionals will have a head start in building critical business relationships and providing exceptional experiences."
Researchers found that in certain segments, end users reported that they were able to deliver considerable return on investment by standardizing on AV technology. Standardization helped drive buy-in across their organizations.
"Without exception, the business case leads the investment," researchers wrote. "End users are not investing in technology for technology's sake."
For more highlights, visit the InfoComm website.