Pro AV Market to Record 6.57% Y-O-Y Growth Rate in 2021 |41% of Growth to Originate from APAC |17000+ Technavio Reports
NEW YORK, Jan. 21, 2022 /PRNewswire/ -- Pro AV Market Facts at a Glance-
NEW YORK, Jan. 21, 2022 /PRNewswire/ -- Pro AV Market Facts at a Glance-
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According to the recent market study by Technavio, the Pro AV Market is expected to grow by USD 90.51 billion between 2020 and 2025, at an accelerated CAGR of 7.31%. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets. APAC will register the highest growth rate of 45% among the other regions.
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Regional Market Outlook
The Pro AV Market share growth in APAC will be significant during the forecast period. China and Japan are the key markets for Pro AV in APAC. Market growth in this region will be faster than the growth of the market in other regions. The growth of the education sector will facilitate the Pro AV market growth in APAC over the forecast period.
The growth of the education sector drives the growth of the pro AV market in APAC. The shift toward the adoption of technologically advanced tools in classrooms will propel the growth of the pro-AV market in the region. Government initiatives in developing countries in APAC will increase the demand for document cameras during the forecast period. The central government in China focuses on funding initiatives, which are aimed at bridging the gap between the quality of education in rural and urban areas, as a part of the Chinese president's goal to eradicate poverty across the nation by 2020.
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Vendor Insights-
The Pro AV Market is fragmented, and the vendors are deploying growth strategies such as focusing on product delivery through multiple distribution channels to compete in the market.
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Latest Drivers & Trends Driving the Market-
The key factor driving growth in the Pro AV market is the increased use of digital signage. Products such as displays and sound reinforcement are used for digital signage. Signages are the primary tools used by corporates and businesses to display content to be conveyed to the target audiences. The retail industry is one of the key segments witnessing the intensive adoption of digital signage systems to influence the buying behavior of the target audience. Another aspect of digital signage is the rise in the popularity of interactive features. Interactive digital signage or touchscreen signage displays have wide applications in retail, corporate offices, transportation, exhibition halls, hotels, stadiums, and in several public spaces. The extensive use of digital signage will drive the demand for Pro AV products and services, which, in turn, will drive market growth.
The training for pro AV equipment is another factor supporting the Pro AV market share growth. Established vendors of pro AV equipment train users on the use of such equipment; this trend is expected to gain traction during the forecast period. Seiko Epson Corp. offers its program, which helps engineers, operators, and sales personnel develop expertise in Epson's latest AV technology. This is designed to help AV professionals acquire detailed knowledge of Epson's complete range of AV solutions and experience of the arrangement, maintenance, operation, and marketing of these technologies across the pro-AV rental sector. It serves the events and retail, educational, and business sectors as well.
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Pro AV Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.31% |
Market growth 2021-2025 |
USD 90.51 billion |
Market structure |
Fragmented |
YoY growth (%) |
6.57 |
Regional analysis |
APAC, North America, Europe, South America, and MEA |
Performing market contribution |
APAC at 41% |
Key consumer countries |
US, China, UK, Japan, Canada, and Germany |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
AVI Systems, AVI-SPL LLC, CCS Presentation Systems, Diversified, Ford Audio-Video LLC, Godrej and Boyce Manufacturing Co. Ltd., New Era Technology, Solutionz Inc, Telerent Leasing Corp., and Vistacom Inc. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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SOURCE Technavio
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