Professional Audio/Visual (Pro AV) Market Forecasts to 2028 – Global Analysis By Type (Services, Products), Application (Television (TV) Shows, Movies), End User (Government, Hospitality, Education), and By Geography
According to Stratistics MRC, the Global Professional Audio-Visual (Pro AV) market is accounted for $279.28 billion in 2020 and is expected to reach $758.38 billion by 2028 growing at a CAGR of 13.3% during the forecast period. Some of the key factors propelling the market growth include growing adoption of pro AV for smart learning in education sector, increased use of digital signage, growing demand for the pro AV equipment for use in various applications, adoption of advanced and improved technology, emergence of new products and platforms, and rapid adoption of cloud platforms. However, high initial investment in Pro AV is likely to restraint the market.
Pro AV refers to an advanced integration of an audio-video system that enables the seamless communication and is used for commercial purposes. Pro AV uses various components such as display components, camera, audio components, computer, controller, room scheduler, companion whiteboard, advanced options such as digital signage, and other supporting accessories. All these components are connected with the internet to provide a seamless experience in meetings and conferences. Due to high-quality communication Pro AV products are used in various industries such as education, hospitality retail, and others.
By type, the displays segment is anticipated to grow at the significant rate during the forecast period, due to rapid technological advancements in the audio and display technology. Displays are used for digital signage, a form of electronic display that delivers videos, web contents, images, and texts in public and private environments for the purpose of information-sharing, advertising, and marketing. This will drive the growth of the global pro AV market share by the products segment.
On the basis of geography, the Asia Pacific region was the largest pro AV market and the region will offer several growth opportunities to market vendors during the forecast period, due to shift toward the adoption of technologically advanced tools in classrooms, increasing government initiatives, growing K-12 industry in the Asia Pacific, and the increased use of printed signages for commercialization in the rapidly growing e-commerce industry. Emerging economies in Asia Pacific region such as India and China are taking initiatives to provide better quality smart education to students. For instance, according to a report by India Brand Equity Foundation, the government of India took several initiatives such as Pradhan Mantri Gramin Saksharta Abhiyan (in October 2017), skill India (July 2015), and others.
Some of the key players in Professional Audio-Visual (Pro AV) Market include Professional Audio Visual Ltd., Ford Audio-Video LLC, Anixter International Inc., AVI Systems Inc., Vistacom Inc., Biamp Systems, CCS Presentation Systems, Unified Technology Systems, New Era Technology, Telerent Leasing Corp., Carousel Industries, TRITECH Company Communications., Digital Networks Group, Inc., HB Communications, Inc, and Solotech.
Estimated Market Size in 2020:
USD 279.28 billion
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 758.38 billion
Tables, Graphs & Figures
Type, Distribution Channel, Application, and End User
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
Distribution Channels Covered:
• Direct Sales
• Television (TV) Shows
End Users Covered:
• Home Use
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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- Market share assessments for the regional and country-level segments
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- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
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- Supply chain trends mapping the latest technological advancements
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Key Questions Answered In The Report
The Global Professional Audio-Visual (Pro AV) Market is majorly driven by growing adoption of pro AV for smart learning in education sector, increasing usages of digital signage, adoption of advanced and improved technology, and emergence of new products and platforms.
The retail segment is growing at a highest CAGR owing to increasing retail sales across the globe, wide adoption of pro AV products in the retail industry, and stiff competition from the E-commerce platforms.
North America dominated with a significant market share due to a shift to private, public, and hybrid cloud deployments over the previous on-premises solutions, the prevalence of various market players in the region, and increasing adoption of advanced technology such as Pro AV for office meeting, conference and other activity.
Asia Pacific market is growing at a highest CAGR owing to the adoption of technologically advanced tools in classrooms along with increasing government initiatives, and rising usage of printed signages for commercialization in the e-commerce industry in India, and China.
Key players in Professional Audio-Visual (Pro AV) Market include Professional Audio Visual Ltd., Ford Audio-Video LLC, Anixter International Inc., AVI Systems Inc., Vistacom Inc., Biamp Systems, CCS Presentation Systems, Unified Technology Systems, New Era Technology, Telerent Leasing Corp., Carousel Industries, TRITECH Company Communications., Digital Networks Group, Inc., HB Communications, Inc, and Solotech.
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