Pro AV Market - Global Outlook & Forecast 2023-2028

Pro AV Market - Global Outlook & Forecast 2023-2028


The global pro AV market is expected to grow at a CAGR of 6.27% from 2022-2028.

MARKET TRENDS & DRIVERS

Increasing Penetration of IoT in the Pro AV Market

With rising internet penetration globally, devices are becoming more digitized, and industries are taking notice of the same. The world has been witnessing a rising penetration of the Internet of Things (IoT) in the pro AV market, and various vendors are exploring ways of using IoT to streamline manufacturing processes and supply chain management (SCM) to deliver a more personalized customer experience. Companies across the globe are increasing their spending on IoT for seamless delivery of customer experience by using IoT to deliver proactive services.

Growing Demand from Corporate, Government, and Institutions

The global pro AV market is witnessing a boost from the growth in the demand for audio and video equipment in government offices, institutional workplaces, and corporate houses. With an intensifying competitive industry, the corporate sector and institutional workplaces are increasingly adopting AV equipment to ease the working environment and smooth the flow of work activities. Nowadays, in a corporate setup, implementing pro AV equipment, especially video walls, microphones, speakers, and other devices, and video conferencing systems have become an utmost necessity.

INDUSTRY RESTRAINTS

High Capital Investment

The high initial investment and lesser adoption in small and medium-sized businesses is a significant challenge in the pro AV market despite huge advantages concerning optimum performance, resource utilization, productivity, and return on investment. Furthermore, the associated maintenance, repair, and replacement costs can be an added burden for businesses in the long run.

SEGMENTATION INSIGHTS

INSIGHTS BY PRODUCT TYPE

The professional video product type segment is expected to be the largest revenue segment of the global pro AV market. The professional video equipment segment comprises video displays, capture and production equipment, video projection, and others. The growing social media, online streaming platforms, and digital marketing drive the demand for high-quality video content. This professional video equipment is intended to generate connected experiences in hybrid workspaces, immersive exhibits, collaborative classrooms, eye-catching retail spaces, and busy transportation hubs.

Segmentation by Product Type
  • Professional Video
  • Video Displays
  • Capture and Production
  • Video Projection
  • Others
  • Professional Audio
  • Microphones
  • Pro Speakers
  • Sound Mixers
  • Signal Processors
  • Power Amplifiers
  • Others
INSIGHTS BY APPLICATION

The global pro AV market by application is segmented as corporate, media & entertainment, venues & events, education, government & military, retail, transportation, hospitality, and others. The corporate application segment is expected to hold the largest segmental share in the global industry. The corporate sector has been growing, fueling the demand for new offices worldwide. During the forecast period, as global economies strengthen, the demand for office spaces is expected to increase. As the demand for office spaces increases, the demand for pro AV solutions will likely rise. This would further drive the demand for pro AV equipment in the corporate sector worldwide. The major factors driving the demand in this segment included opening new offices and the growing penetration of IoT in corporations worldwide.

Segmentation by Application
  • Corporate
  • Media & Entertainment
  • Venues & Events
  • Education
  • Government & Military
  • Retail
  • Transportation
  • Hospitality
  • Others
INSIGHTS BY DISTRIBUTION CHANNEL

The offline distribution channel is expected to be the largest revenue segment of the global pro AV market. Retail stores are the major destination of end-users purchasing pro AV equipment. Although selling these products online and in OEM stores is increasing, a significant share of product distribution occurs through conventional pro AV and electronics stores/outlets. Pro AV equipment producers harness these stores due to personalized customer services. The staff in these stores are educated about pro AV equipment, its usage, and its complexity. These staff, in turn, educate customers about these products and help them select appropriate products.

Segmentation by Distribution Channel
  • Offline
  • Online
GEOGRAPHICAL ANALYSIS

The global pro AV market is well-developed in APAC, North America, and Europe. Currently, companies are focusing their resources on the untapped emerging markets. However, the relatively higher cost of branded pro AV equipment and limited availability of cost-effective audio-visual networking options are major growth inhibitors in the APAC countries. The high annual saving ratios in countries such as China and India reflect end-users reluctance to spend a lot on recreational activities such as concerts and live performances. However, as the industry in these countries presents a lucrative revenue growth potential, many vendors are expected to enter the industry during the forecast period, making it highly consolidated. The penetration of pro AV systems remains at an all-time high in the U.S. and Canada. Europe followed North America, led by Germany, the UK, and France in 2022.

Segmentation by Geography
  • APAC
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • North America
  • The U.S.
  • Canada
  • Europe
  • Germany
  • The U.K.
  • France
  • Italy
  • Spain
  • Latin America
  • Brazil
  • Mexico
  • Argentina
  • Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
COMPETITIVE LANDSCAPE

The global pro AV market is highly fragmented, with many local and international players. The competition among the players is intense. The rapidly changing technological environment could adversely affect vendors as customers expect continual innovations and upgrades in pro AV solutions. The present scenario forces vendors to refine their unique value proposition to achieve a strong industry presence. Key players in the pro AV market include Samsung, Sony, Hitachi, LG, Panasonic, and Philips. The competition among these key players is intense on the global level. The market concentration in developed countries such as the U.S. and other Western European countries is high, while the market is in its nascent stage in developing economies such as China and India because of the entry of many international brands in these countries. Vendors are using new business models and focusing on developing the portfolio of their establishments to drive growth.

Key Company Profiles
  • Samsung
  • Sony
  • Hitachi
  • LG
  • Panasonic
  • Philips
Other Prominent Vendors
  • Bose
  • TCL
  • Extron
  • Toshiba
  • Bang & Olufsen
  • Poly
  • Shure
  • Sennheiser Electronic
  • Biamp
  • Audio Technica
  • Logitech
  • Hisense
  • Crestron Electronics
  • Sharp NEC
  • Kramer
  • Planar
  • L-Acoustics
  • Yamaha
  • Nady Systems
  • Proel
KEY QUESTIONS ANSWERED:

1. How big is the pro AV market?

2. What is the growth rate of the global pro AV market?

3. Which region dominates the global pro AV market share?

4. What are the significant trends in the pro AV market?

5. Who are the key players in the global pro AV market?


1 RESEARCH METHODOLOGY
2 RESEARCH OBJECTIVES
3 RESEARCH PROCESS
4 SCOPE & COVERAGE
4.1 MARKET DEFINITION
4.1.1 INCLUSIONS
4.1.2 EXCLUSIONS
4.1.3 MARKET ESTIMATION CAVEATS
4.2 BASE YEAR
4.3 SCOPE OF THE STUDY
4.4 PRODUCT TYPE
4.5 APPLICATION/END-USER
4.6 DISTRIBUTION CHANNEL
4.6.1 MARKET SEGMENTATION BY DISTRIBUTION CHANNEL
4.6.2 MARKET SEGMENTATION BY GEOGRAPHY
5 REPORT ASSUMPTIONS & CAVEATS
5.1 KEY CAVEATS
5.2 CURRENCY CONVERSION
5.3 MARKET DERIVATION
6 PREMIUM INSIGHTS
6.1 MARKET OVERVIEW
6.2 MARKET DYNAMICS
6.2.1 MARKET TRENDS
6.2.2 MARKET DRIVERS
6.2.3 MARKET RESTRAINTS
6.3 SEGMENT ANALYSIS
6.4 GEOGRAPHICAL ANALYSIS
6.5 COMPETITIVE LANDSCAPE
7 MARKET AT A GLANCE
8 INTRODUCTION
8.1 OVERVIEW
8.2 TECHNOLOGICAL ADVANCES IN PRO AV
8.2.1 AI
8.2.2 5G NETWORKING
8.2.3 TOUCHLESS DEVICES
8.2.4 3D HOLOGRAPHIC SOLUTIONS
8.3 PRO AV EQUIPMENT FOR PRESENTATION AND CONFERENCE
8.4 MACROECONOMIC FACTORS THAT ENABLE MARKET GROWTH
8.4.1 ECONOMIC DEVELOPMENT
8.5 VALUE CHAIN ANALYSIS
8.5.1 TECHNOLOGY SUPPLIERS
8.5.2 OEMS
8.5.3 AV CONSULTANTS OR INTEGRATORS
8.5.4 SYSTEM DEALERS AND DISTRIBUTORS
8.5.5 SYSTEM END-USERS
9 MARKET OPPORTUNITIES & TRENDS
9.1 ADOPTION OF E-LEARNING IN THE EDUCATIONAL SECTOR
9.2 INCREASING PENETRATION OF IOT IN PRO AV INDUSTRY
9.3 RAPID DEVELOPMENT IN DIGITAL SIGNAGE SYSTEMS
9.4 POPULARITY OF NIGHTCLUBS & RESTO BARS IN APAC
10 MARKET GROWTH ENABLERS
10.1 INCREASING NUMBER OF EXHIBITIONS, SEMINARS, AND CONFERENCES
10.2 GROWING DEMAND FROM CORPORATE, GOVERNMENT, & INSTITUTIONS
10.3 RISE IN LIVE PERFORMANCES AND MUSIC INDUSTRY
10.4 RISE IN THE NUMBER OF SPORTS EVENTS
11 MARKET RESTRAINTS
11.1 VOLATILITY OF RAW MATERIAL PRICES
11.2 HIGH CAPITAL INVESTMENTS
11.3 LACK OF SKILLED PROFESSIONALS
12 MARKET LANDSCAPE
12.1 MARKET OVERVIEW
12.1.1 MAJOR MARKET-DRIVEN INSIGHTS
12.1.2 GEOGRAPHIC OUTLOOK
12.1.3 MARKET DYNAMICS
12.1.4 MEGA TRENDS
12.1.5 DEMOGRAPHIC OUTLOOK
12.2 MARKET SIZE & FORECAST
12.3 FIVE FORCES ANALYSIS
12.3.1 THREAT OF NEW ENTRANTS
12.3.2 BARGAINING POWER OF SUPPLIERS
12.3.3 BARGAINING POWER OF BUYERS
12.3.4 THREAT OF SUBSTITUTES
12.3.5 COMPETITIVE RIVALRY
13 PRODUCT TYPE
13.1 MARKET SNAPSHOT & GROWTH ENGINE
13.2 MARKET OVERVIEW
14 PROFESSIONAL VIDEO
14.1 MARKET SIZE & FORECAST
14.1.1 MARKET BY GEOGRAPHY
14.2 VIDEO DISPLAY
14.2.1 MARKET SIZE & FORECAST
14.2.2 MARKET BY GEOGRAPHY
14.3 CAPTURE AND PRODUCTION
14.3.1 MARKET SIZE & FORECAST
14.3.2 MARKET BY GEOGRAPHY
14.4 VIDEO PROJECTION
14.4.1 MARKET SIZE & FORECAST
14.4.2 MARKET BY GEOGRAPHY
14.5 OTHERS
14.5.1 MARKET SIZE & FORECAST
14.5.2 MARKET BY GEOGRAPHY
15 PROFESSIONAL AUDIO
15.1 MARKET SIZE & FORECAST
15.1.1 MARKET BY GEOGRAPHY
15.2 MICROPHONES
15.2.1 MARKET SIZE & FORECAST
15.2.2 MARKET BY GEOGRAPHY
15.3 PRO SPEAKERS
15.3.1 MARKET SIZE & FORECAST
15.3.2 MARKET BY GEOGRAPHY
15.4 SOUND MIXERS
15.4.1 MARKET SIZE & FORECAST
15.4.2 MARKET BY GEOGRAPHY
15.5 SIGNAL PROCESSORS
15.5.1 MARKET SIZE & FORECAST
15.5.2 MARKET BY GEOGRAPHY
15.6 POWER AMPLIFIERS
15.6.1 MARKET SIZE & FORECAST
15.6.2 MARKET BY GEOGRAPHY
15.7 OTHERS
15.7.1 MARKET SIZE & FORECAST
15.7.2 MARKET BY GEOGRAPHY
16 APPLICATION
16.1 MARKET SNAPSHOT & GROWTH ENGINE
16.2 MARKET OVERVIEW
16.3 CORPORATE
16.3.1 MARKET SIZE & FORECAST
16.3.2 MARKET BY GEOGRAPHY
16.4 MEDIA & ENTERTAINMENT
16.4.1 MARKET SIZE & FORECAST
16.4.2 MARKET BY GEOGRAPHY
16.5 VENUES & EVENTS
16.5.1 MARKET SIZE & FORECAST
16.5.2 MARKET BY GEOGRAPHY
16.6 EDUCATION
16.6.1 MARKET SIZE & FORECAST
16.6.2 MARKET BY GEOGRAPHY
16.7 GOVERNMENT & MILITARY
16.7.1 MARKET SIZE & FORECAST
16.7.2 MARKET BY GEOGRAPHY
16.8 RETAIL
16.8.1 MARKET SIZE & FORECAST
16.8.2 MARKET BY GEOGRAPHY
16.9 TRANSPORTATION
16.9.1 MARKET SIZE & FORECAST
16.9.2 MARKET BY GEOGRAPHY
16.10 HOSPITALITY
16.10.1 MARKET SIZE & FORECAST
16.10.2 MARKET BY GEOGRAPHY
16.11 OTHERS
16.11.1 MARKET SIZE & FORECAST
16.11.2 MARKET BY GEOGRAPHY
17 DISTRIBUTION CHANNEL
17.1 MARKET SNAPSHOT & GROWTH ENGINE
17.2 MARKET OVERVIEW
17.3 MANUFACTURING PRODUCTION AND DISTRIBUTION
17.4 OFFLINE
17.4.1 MARKET SIZE & FORECAST
17.4.2 PRO AV & ELECTRONICS STORES: MARKET OVERVIEW
17.4.3 PRO AV DEALERS & DISTRIBUTION: MARKET OVERVIEW
17.4.4 MARKET BY GEOGRAPHY
17.5 ONLINE
17.5.1 MARKET SIZE & FORECAST
17.5.2 MARKET BY GEOGRAPHY
18 GEOGRAPHY
18.1 MARKET SNAPSHOT & GROWTH ENGINE
18.2 GEOGRAPHIC OVERVIEW
19 APAC
19.1 MARKET SIZE & FORECAST
19.2 PRODUCT TYPE
19.2.1 MARKET SIZE & FORECAST
19.3 APPLICATION
19.3.1 MARKET SIZE & FORECAST
19.4 DISTRIBUTION CHANNEL
19.4.1 MARKET SIZE & FORECAST
19.5 KEY COUNTRIES
19.5.1 CHINA: MARKET SIZE & FORECAST
19.5.2 INDIA: MARKET SIZE & FORECAST
19.5.3 JAPAN: MARKET SIZE & FORECAST
19.5.4 SOUTH KOREA: MARKET SIZE & FORECAST
19.5.5 AUSTRALIA: MARKET SIZE & FORECAST
20 NORTH AMERICA
20.1 MARKET SIZE & FORECAST
20.2 PRODUCT TYPE
20.2.1 MARKET SIZE & FORECAST
20.3 APPLICATION
20.3.1 MARKET SIZE & FORECAST
20.4 DISTRIBUTION CHANNEL
20.4.1 MARKET SIZE & FORECAST
20.5 KEY COUNTRIES
20.5.1 US: MARKET SIZE & FORECAST
20.5.2 CANADA: MARKET SIZE & FORECAST
21 EUROPE
21.1 MARKET SIZE & FORECAST
21.2 PRODUCT TYPE
21.2.1 MARKET SIZE & FORECAST
21.3 APPLICATION
21.3.1 MARKET SIZE & FORECAST
21.4 DISTRIBUTION CHANNEL
21.4.1 MARKET SIZE & FORECAST
21.5 KEY COUNTRIES
21.5.1 GERMANY: MARKET SIZE & FORECAST
21.5.2 UK: MARKET SIZE & FORECAST
21.5.3 FRANCE: MARKET SIZE & FORECAST
21.5.4 ITALY: MARKET SIZE & FORECAST
21.5.5 SPAIN: MARKET SIZE & FORECAST
22 LATIN AMERICA
22.1 MARKET SIZE & FORECAST
22.2 PRODUCT TYPE
22.2.1 MARKET SIZE & FORECAST
22.3 APPLICATION
22.3.1 MARKET SIZE & FORECAST
22.4 DISTRIBUTION CHANNEL
22.4.1 MARKET SIZE & FORECAST
22.5 KEY COUNTRIES
22.5.1 BRAZIL: MARKET SIZE & FORECAST
22.5.2 MEXICO: MARKET SIZE & FORECAST
22.5.3 ARGENTINA: MARKET SIZE & FORECAST
23 MIDDLE EAST & AFRICA
23.1 MARKET SIZE & FORECAST
23.2 PRODUCT TYPE
23.2.1 MARKET SIZE & FORECAST
23.3 APPLICATION
23.3.1 MARKET SIZE & FORECAST
23.4 DISTRIBUTION CHANNEL
23.4.1 MARKET SIZE & FORECAST
23.5 KEY COUNTRIES
23.5.1 SAUDI ARABIA: MARKET SIZE & FORECAST
23.5.2 UAE: MARKET SIZE & FORECAST
23.5.3 SOUTH AFRICA: MARKET SIZE & FORECAST
24 COMPETITIVE LANDSCAPE
24.1 COMPETITION OVERVIEW
25 KEY COMPANY PROFILES
25.1 SAMSUNG
25.1.1 BUSINESS OVERVIEW
25.1.2 PRODUCT OFFERINGS
25.1.3 KEY STRATEGIES
25.1.4 KEY STRENGTHS
25.1.5 KEY OPPORTUNITIES
25.2 SONY
25.2.1 BUSINESS OVERVIEW
25.2.2 PRODUCT OFFERINGS
25.2.3 KEY STRATEGIES
25.2.4 KEY STRENGTHS
25.2.5 KEY OPPORTUNITIES
25.3 HITACHI
25.3.1 BUSINESS OVERVIEW
25.3.2 PRODUCT OFFERINGS
25.3.3 KEY STRATEGIES
25.3.4 KEY STRENGTHS
25.3.5 KEY OPPORTUNITIES
25.4 LG
25.4.1 BUSINESS OVERVIEW
25.4.2 PRODUCT OFFERINGS
25.4.3 KEY STRATEGIES
25.4.4 KEY STRENGTHS
25.4.5 KEY OPPORTUNITIES
25.5 PANASONIC
25.5.1 BUSINESS OVERVIEW
25.5.2 PRODUCT OFFERINGS
25.5.3 KEY STRATEGIES
25.5.4 KEY STRENGTHS
25.5.5 KEY OPPORTUNITIES
25.6 PHILIPS
25.6.1 BUSINESS OVERVIEW
25.6.2 PRODUCT OFFERINGS
25.6.3 KEY STRATEGIES
25.6.4 KEY STRENGTHS
25.6.5 KEY OPPORTUNITIES
26 OTHER PROMINENT VENDORS
26.1 BOSE
26.1.1 BUSINESS OVERVIEW
26.1.2 PRODUCT OFFERINGS
26.2 TCL
26.2.1 BUSINESS OVERVIEW
26.2.2 PRODUCT OFFERINGS
26.3 EXTRON
26.3.1 BUSINESS OVERVIEW
26.3.2 PRODUCT OFFERINGS
26.4 TOSHIBA
26.4.1 BUSINESS OVERVIEW
26.4.2 PRODUCT OFFERINGS
26.5 BANG & OLUFSEN
26.5.1 BUSINESS OVERVIEW
26.5.2 PRODUCT OFFERINGS
26.6 POLY
26.6.1 BUSINESS OVERVIEW
26.6.2 PRODUCT OFFERINGS
26.7 SHURE
26.7.1 BUSINESS OVERVIEW
26.7.2 PRODUCT OFFERINGS
26.8 SENNHEISER ELECTRONIC
26.8.1 BUSINESS OVERVIEW
26.8.2 PRODUCT OFFERINGS
26.9 BIAMP
26.9.1 BUSINESS OVERVIEW
26.9.2 PRODUCT OFFERINGS
26.10 AUDIO TECHNICA
26.10.1 BUSINESS OVERVIEW
26.10.2 PRODUCT OFFERINGS
26.11 LOGITECH
26.11.1 BUSINESS OVERVIEW
26.11.2 PRODUCT OFFERINGS
26.12 HISENSE
26.12.1 BUSINESS OVERVIEW
26.12.2 PRODUCT OFFERINGS
26.13 CRESTRON ELECTRONICS
26.13.1 BUSINESS OVERVIEW
26.13.2 PRODUCT OFFERINGS
26.14 SHARP NEC
26.14.1 BUSINESS OVERVIEW
26.14.2 PRODUCT OFFERINGS
26.15 KRAMER
26.15.1 BUSINESS OVERVIEW
26.15.2 PRODUCT OFFERINGS
26.16 PLANAR
26.16.1 BUSINESS OVERVIEW
26.16.2 PRODUCT OFFERINGS
26.17 L-ACOUSTICS
26.17.1 BUSINESS OVERVIEW
26.17.2 PRODUCT OFFERINGS
26.18 YAMAHA
26.18.1 BUSINESS OVERVIEW
26.18.2 PRODUCT OFFERINGS
26.19 NADY SYSTEMS
26.19.1 BUSINESS OVERVIEW
26.19.2 PRODUCT OFFERINGS
26.20 PROEL
26.20.1 BUSINESS OVERVIEW
26.20.2 PRODUCT OFFERINGS
27 REPORT SUMMARY
27.1 KEY TAKEAWAYS
27.2 STRATEGIC RECOMMENDATIONS
28 QUANTITATIVE SUMMARY
28.1 MARKET BY GEOGRAPHY
28.2 APAC
28.2.1 PRODUCT TYPE
28.2.2 APPLICATION
28.2.3 DISTRIBUTION CHANNEL
28.3 NORTH AMERICA
28.3.1 PRODUCT TYPE
28.3.2 APPLICATION
28.3.3 DISTRIBUTION CHANNEL
28.4 EUROPE
28.4.1 PRODUCT TYPE
28.4.2 APPLICATION
28.4.3 DISTRIBUTION CHANNEL
28.5 LATIN AMERICA
28.5.1 PRODUCT TYPE
28.5.2 APPLICATION
28.5.3 DISTRIBUTION CHANNEL
28.6 MIDDLE EAST & AFRICA
28.6.1 PRODUCT TYPE
28.6.2 APPLICATION
28.6.3 DISTRIBUTION CHANNEL
28.7 PRODUCT TYPE
28.7.1 PROFESSIONAL VIDEO
28.7.2 PRO VIDEO – VIDEO DISPLAYS
28.7.3 PRO VIDEO – CAPTURE AND PRODUCTION
28.7.4 PRO VIDEO – VIDEO PROJECTION
28.7.5 PRO VIDEO - OTHERS
28.7.6 PROFESSIONAL AUDIO
28.7.7 PRO AUDIO - MICROPHONES
28.7.8 PRO AUDIO – PRO SPEAKERS
28.7.9 PRO AUDIO – SOUND MIXERS
28.7.10 PRO AUDIO – SIGNAL PROCESSORS
28.7.11 PRO AUDIO – POWER AMPLIFIERS
28.7.12 PRO AUDIO - OTHERS
28.8 APPLICATION
28.8.1 CORPORATE
28.8.2 MEDIA & ENTERTAINMENT
28.8.3 VENUES & EVENTS
28.8.4 EDUCATION
28.8.5 GOVERNMENT & MILITARY
28.8.6 RETAIL
28.8.7 TRANSPORTATION
28.8.8 HOSPITALITY
28.8.9 OTHERS
28.9 DISTRIBUTION CHANNEL
28.9.1 OFFLINE
28.9.2 ONLINE
29 APPENDIX
29.1 ABBREVIATIONS

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