The global pro AV market is expected to post a CAGR of close to 11 percent during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the growth of the global pro AV market size is the increased use of digital signage, according to the firm. Digital signage has gained immense popularity over the years and has become a primary tool for corporates to display contents to convey urgent messages to the target audience. The retail industry is increasingly adopting digital signage systems to influence the buying behavior of the target audience. This is expected to increase the demand for pro AV as it helps marketers to promote their brand name and related information, as well as allow consumers to make informed purchase decisions.
As per Technavio, the incorporation of innovative technologies will have a positive impact on the market and contribute to its growth significantly over the forecast period. The Global Pro AV Market 2018-2022 research report also analyzes other important trends and market drivers that will affect market growth over 2018-2022.
Global Pro AV Market: Incorporation of Innovative Technologies
The increased demand for pro AV equipment is paving the way to advances in technologies. With the emergence of new products and platforms, pro AV vendors have begun integrating support for new categories such as VR content. The adoption and integration of such specialized content in the existing pro AV ecosystem will increase during the forecast period. This will have a positive impact on the growth of the pro AV market during the forecast period.
“Vendors in the pro AV market are focusing on training users on the features of pro AV equipment. Vendors are conducting training programs that are designed to help AV professionals acquire detailed knowledge and understanding of their complete range of AV solutions. Such training programs will positively impact the growth of the pro AV market during the forecast period,” said an analyst from Technavio.
Global Pro AV Market: Segmentation Analysis
This market research report segments the global pro AV market worth by type (products and services) and key regions (the Americas, APAC, and EMEA).
The Americas held the highest share of the global pro AV market in 2017, accounting for a market share of around 43 percent, followed by APAC and EMEA. APAC is expected to witness a significant increase in its market share to surpass the Americas by 2022. The market share of the Americas and EMEA will witness a substantial decline during the forecast period.
Other areas covered in the report include market sizing, regional comparisons, market trends, and a vendor landscape. To obtain a free sample report, click here.