Market Trends of APAC Professional Audio-Visual Systems Industry
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.
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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.
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