APAC Professional Audio-Visual Systems Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 47.23 Billion |
| Market Size (2029) | USD 66.44 Billion |
| CAGR (2024 - 2029) | 5.54 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC Professional Audio-Visual Systems Market Analysis
The APAC Professional Audio-Visual Systems Market size is estimated at USD 47.23 billion in 2024, and is expected to reach USD 66.44 billion by 2029, growing at a CAGR of 5.54% during the forecast period (2024-2029).
Audiovisual (AV) forms electronic media comprising visual and sound components. Audiovisual solutions offer video conferencing, web streaming, and live broadcast services.
- The Asia-Pacific professional audiovisual systems market is expected to propel over the forecast period due to rapid technological advancements in audio and display technology, rapid adoption of cloud solutions, the advent of smart buildings and the Internet of Things, and the rapid adoption of artificial intelligence (AI).
- With the growth of the Internet of Things, most companies will use a combination of Web3, augmented reality, cloud, and digital twins in various metaverse-based projects. As artificial intelligence (AI) and machine learning (ML) become common for almost every business function and learning touchpoint, flexibility and interoperability of hardware and software solutions will be key trends driving the growth of the Asia-Pacific professional audiovisual systems market.
- However, COVID-19 severely impacted the professional audiovisual industry, putting immense pressure on the supply chain and seeing various businesses fail. Notably, entertainment, leisure, and retail have been severely impacted due to the pandemic, resulting in a sharp decline in the demand for AV technologies. The demand for live events, and subsequently, rental, has been the hardest hit. Numerous high-profile production companies need to improve, smaller rental houses are closing, and manufacturers are supplying this space, particularly in the audio sector struggling.
- Post the pandemic, audiovisuals play a vital role in the healthcare and education industry. The doctors started treating patients online over video conferencing to avoid personal contact with the patients. This further enabled quick response and recovery of affected patients across the globe.
- Also, audiovisual systems made a massive difference in interactive sessions with the teachers to intuitively touch, collaborate, and share the display. They further help to reduce the ongoing cost with energy-efficient LED HD screens and no bulbs or filters to be changed.
- Audiovisual systems are playing a vital role in imparting education at primary schools in rural areas. For instance, in February 2022, around 40 digital anganwadis (primary schools) came up in districts of Nagpur, India, equipped with digital screens, projectors, and sound systems to support audiovisual methods of imparting education to the students.
APAC Professional Audio-Visual Systems Market Trends
Retail is Analyzed to Witness Highest Growth Rate During the Forecast Period
- E-commerce platforms, which are rapidly increasing, pose a serious threat to the retail sector. The capacity to connect current technologies to create experiences that a person cannot have through a web browser has mainly set the stage for physical establishments to undergo renewal. This is one of the primary factors boosting the retail segment's demand.
- Adopting audio-visual technology increases customer engagement with an element of interactivity. In retail, brand identity and content are creatively delivered to customers. The move toward digital infrastructure for improving customer experience creates growth opportunities for the retail segment.
- Audio-visual technology also plays a vital role in conveying a message to make shoppers feel safe. The audio systems can help in reminding shoppers to maintain a proper distance. The video is expected to be more ubiquitous, with screens in some new locations to offer shoppers hygiene advice on handling merchandise, such as tried-on clothing.
- Moreover, the growing retail sales in the region show that the retail industry is steadily growing. Retailers are expected to implement digital technologies to keep that growth on a good path, thereby driving the market for professional audio-visual systems.
South Korea is Expected to Register the Significant Growth Rate
- Asia-Pacific consumers are increasingly seeking high-definition (HD) media content. Broadcasters are increasingly focusing on producing and transmitting HD programming. As a result, demand for equipment such as HD cameras and video servers is increasing. As a result, these factors will likely boost the Asia Pacific professional AV systems market during the forecast period.
- South Korea is analyzed to hold a significant market share owing to the country's growing venues and events and the presence of a vast entertainment sector. South Korean entertainment stocks rose as K-pop artists, such as BTS and Twice, returned to the stage amid a reopening of the global economy and rising expectations for robust revenues. This year, the industry is projected to gain traction in new businesses such as the metaverse, which will help it thrive in the long run.
- The South Korean entertainment company K-pop band BTS posted an increase in revenue despite a drop in revenue from concerts due to the pandemic. According to the company, Hype's operating profits increased by 30.8 percent last year.
- Further, the growing collaborations in various regions and countries contribute to the market growth rate. For instance, in March 2022, Dynamic AV Technologies, a Sri Lankan professional audio-visual solutions provider, collaborated with Softlogic Retail to launch a wide range of international prosumer products that offer clients reasonable prices. JBL EON ONE Compact, desktop reference monitors, closed-back studio headphones, multimode USB microphones, analog mixers, and work-at-home bundles are now among the JBL items available through Dynamic AV's Softlogic Max showrooms.
APAC Professional Audio-Visual Systems Industry Overview
The Asia-Pacific professional audio-visual systems market is expected to be moderate owing to the presence of many small and large players in the market providing their solutions in domestic and international markets. The market is moderately concentrated, with the major players adopting strategies like product innovation and mergers and acquisitions to stay ahead of the competition and expand their geographic reach. Some major players in the market are Sony Corporation, Panasonic Corporation, Alpine Electronics, Inc., Planar Systems Inc., and Kramer Electronics, among others.
In June 2023, ASPEED Technology Inc., Taiwan, showcased its new products at the professional audio-visual exhibition InfoComm in Orlando, Florida. The company showcases a full range of Smart AV application products, including the "AST1530/1535" AV-over-IP high-definition transmission SoCs. It also features a series of Cupola360, which includes 360-degree video conferencing devices. It is primarily designed for high-end professional audio-visual (Pro AV) applications; the "AST1530/1535" HDMI 2.1 AVoIP SoC supports 4K2K60 high-definition resolution.
In May 2023, Coda Audio, Waves System, and Pequod Acoustics announced their entry into the Indian market to strengthen their operations in India and increase product awareness. The brands have signed a strategic partnership agreement with Alphatec, a Mumbai-based audio and video distribution company, as the distribution partner for the devices across India. These companies aim to improve users' overall audio experience by providing cutting-edge audio technology, uncompromising sound quality, and access to high-quality pro-audio speaker systems.
APAC Professional Audio-Visual Systems Market Leaders
Sony Corporation
Panasonic Corporation
Alpine Electronics Inc.
Kramer Electronics
Planar Systems
*Disclaimer: Major Players sorted in no particular order
APAC Professional Audio-Visual Systems Market News
- June 2023: The Pro Integration Future Asia (PIFA), a professional audiovisual and lighting (AVL) technologies exhibition and conference for the region, started in Singapore in June 2023. A significant highlight of the event was a series of nine Memorandums of Understanding (MOU) signed between the Professional Audio Visual & Lighting Integration Association of Singapore (AVLIAS) and nine trade associations from Singapore, Malaysia, and Thailand to work together to promote educate and grow their business communities.
- October 2022: InfoComm Southeast Asia, a tradeshow for Professional AudioVisual (Pro-AV) and Transformative Technology, featured the most trailblazing international and local solution providers. The event will showcase the robust solutions on the show and learning sessions for several industries. The event caters to Pro AV industry players, embedded technology decision-makers, and business end-users.
APAC Professional Audio-Visual SystemsMarket Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definitions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Porter's Five Forces Analysis
4.2.1 Threat of New Entrants
4.2.2 Bargaining Power of Buyers/Consumers
4.2.3 Bargaining Power of Suppliers
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Value Chain / Supply Chain Analysis
4.4 Assessment of the Impact of COVID -19 on the Market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Rapid Adoption of Cloud Platforms
5.2 Market Restraints
5.2.1 High Operating and Legal Costs of Audio-Visual Systems
6. MARKET SEGMENTATION
6.1 By Type (Qualitative Analysis)
6.1.1 Capture and Production Equipment
6.1.2 Video Projection
6.1.3 Streaming Media, Storage and Distribution
6.1.4 Others Types
6.2 End-User Vertical
6.2.1 Corporate
6.2.2 Education
6.2.3 Healthcare
6.2.4 Hospitality
6.2.5 Venues and Events
6.2.6 Retail
6.2.7 Other End-user Verticals
6.3 Country
6.3.1 China
6.3.2 Japan
6.3.3 India
6.3.4 South Korea
6.3.5 Rest of Asia-Pacific
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Sony Corporation
7.1.2 Panasonic Corporation
7.1.3 Alpine Electronics, Inc.
7.1.4 Kramer Electronics
7.1.5 Vega Global
7.1.6 Planar Systems Inc.
7.1.7 Elmo
7.1.8 Guangzhou Baolun Electronic Co.,Ltd
7.1.9 Guangzhou DSPPA Audio Co., Ltd.
7.1.10 Epson
- *List Not Exhaustive
8. INVESTMENTS ANALYSIS
9. FUTURE TRENDS
APAC Professional Audio-Visual Systems Industry Segmentation
Audio-visual technology is used in various applications, including entertainment, education, communication, presentations, conferences, and advertising. It involves using multiple devices and systems to create, enhance, and deliver audio and visual content. Advancements in high-definition display technologies are changing the way professional audio/visual or Pro AV; equipment is being used to communicate, broadcast, collaborate, interact, and advertise in commercial environments.
The Asia-Pacific professional audio-visual systems market is segmented by type (capture and production equipment, video projection, streaming media, storage, and distribution, and other types), end-user vertical (corporate, education, healthcare, hospitality, venues and events, retail, and other end-user verticals), and country (China, Japan, India, South Korea, and Rest of Asia-Pacific). The market sizes and forecasts are provided in terms of value in USD for all the above segments.
| By Type (Qualitative Analysis) | |
| Capture and Production Equipment | |
| Video Projection | |
| Streaming Media, Storage and Distribution | |
| Others Types |
| End-User Vertical | |
| Corporate | |
| Education | |
| Healthcare | |
| Hospitality | |
| Venues and Events | |
| Retail | |
| Other End-user Verticals |
| Country | |
| China | |
| Japan | |
| India | |
| South Korea | |
| Rest of Asia-Pacific |
APAC Professional Audio-Visual SystemsMarket Research FAQs
How big is the APAC Professional Audio-Visual Systems Market?
The APAC Professional Audio-Visual Systems Market size is expected to reach USD 47.23 billion in 2024 and grow at a CAGR of 5.54% to reach USD 66.44 billion by 2029.
What is the current APAC Professional Audio-Visual Systems Market size?
In 2024, the APAC Professional Audio-Visual Systems Market size is expected to reach USD 47.23 billion.
Who are the key players in APAC Professional Audio-Visual Systems Market?
Sony Corporation, Panasonic Corporation, Alpine Electronics Inc., Kramer Electronics and Planar Systems are the major companies operating in the APAC Professional Audio-Visual Systems Market.
What years does this APAC Professional Audio-Visual Systems Market cover, and what was the market size in 2023?
In 2023, the APAC Professional Audio-Visual Systems Market size was estimated at USD 44.75 billion. The report covers the APAC Professional Audio-Visual Systems Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the APAC Professional Audio-Visual Systems Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
APAC Professional Audio-Visual SystemsIndustry Report
Statistics for the 2024 APAC Professional Audio-Visual Systems market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. APAC Professional Audio-Visual Systems analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
