Professional Audio-Visual Systems Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 278.57 Billion |
| Market Size (2029) | USD 356.88 Billion |
| CAGR (2024 - 2029) | 5.08 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia-Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Professional Audio-Visual Systems Market Analysis
The Professional Audio-Visual Systems Market size is estimated at USD 278.57 billion in 2024, and is expected to reach USD 356.88 billion by 2029, growing at a CAGR of 5.08% during the forecast period (2024-2029).
The market size has derived from the sales of various product types such as capture and production equipment, video projection, streaming media, storage, and distribution and services. The market size also includes the sales of pro AV system solutions in various end-user verticals such as corporate, venues and events, retail, media and entertainment, and other end-user verticals.
- Other growth-promoting factors include numerous technological developments, such as adopting professional audio-visual with the Internet of Things (IoT) and cloud computing platforms. These technologies work well for live events, security, collaboration, conferencing, learning, and monitoring.
- It is anticipated that additional factors, such as the creation of 360-degree cameras, drones, and virtual reality (VR) systems to provide specialized content and advancements in the telecommunications infrastructure, may fuel the market growth.
- As various teams require better audio-visual solutions for seamless connectivity, the North American region is witnessing a shift to private, public, and hybrid cloud deployments over the previous on-premises solutions. This is expected to drive the market during the forecast period.
- The increasing need for large capital investments and a lower adoption rate among small and medium-sized businesses will likely act as market restraints for pro AV (audio-visual) growth during the forecast period. The lack of skilled professionals, short replacement cycles, and one-on-one learning will be the most significant and pressing challenges to the market's growth.
- COVID-19 significantly impacted the professional audio-visual industry, putting enormous strain on the supply chain and causing numerous businesses to fail. Notably, the pandemic has significantly impacted entertainment, leisure, and retail, resulting in a sharp decline in demand for audio-visual technologies. The market for live events, and thus rentals, has been hit the hardest. Numerous high-profile production companies are failing, smaller rental houses are closing, and manufacturers, particularly in the audio sector, are supplying this space.
Professional Audio-Visual Systems Market Trends
Deployment of Audio-Visual Systems in the Corporate Sector in Witnessing a Significant CAGR
- From the home office to the conference room, the way people work is changing at a rapid pace. More and more companies are facilitating employees to work remotely part-time to cut down on commuting and create more work-life balance. Furthermore, they're also putting the customer first, focusing on relationships and bringing together partners to provide a comprehensive solution, as most businesses suffer from outdated technologies and inefficiency in the workplace.
- Professional audio-visual systems have the efficiency to create powerful first impressions and encourage collaborations between teams and organizations. Professional AV solutions facilitate companies with the necessary tools to coordinate easily despite their unique challenges, and the right meeting room technology enables a seamless connection between all these parties. Not only does it enable relationship building on a deeper level than audio alone, but it also acts as a cost-saving tool by reducing travel expenses.
- Notably, video conferencing has taken center stage in the meeting room as Zoom, Microsoft Teams, Poly (previously Polycom), StarLeaf, and LifeSize all offer various conference room solutions. Most platforms facilitate Outlook and Google integrations for easy meeting scheduling. Furthermore, the push to join is also becoming a more readily available option. Thus, as video calls become more mainstream, organizations are on calls with clients, partners, and off-site employees, and these external participants may be calling in from a different video conferencing platform. Thus, scaling web conferencing is a big trend, and more and more companies are standardizing technologies in their conference rooms, with audio being the second piece of meeting room communication.
- Moreover, commercial properties continue to be buoyant owing to robust business confidence and bright prospect in the growing economies. In addition to this, the use of coworking space has surged substantially since the pandemic altered the way many companies function.
Asia-Pacific is Expected to be the Fastest-growing Market
- The Asia-Pacific (APAC) region presents significant growth potential. While the adoption of Pro AV systems has been slower in countries like China and India, the entry of many international brands and increasing awareness about the benefits of Pro AV is expected to drive market growth in the coming years.
- The companies in the Asian-Pacific region have been focusing on developing various products and services in the market studied as per the products and services in the region.
- In particular, is increasingly adopting AV equipment to create efficient working environments and facilitate smooth workflow. Pro AV solutions, such as video walls, microphones, speakers, and video conferencing systems, are now considered essential tools for enhancing productivity in corporate settings.
- Due to the adoption of technologically advanced tools in classrooms, increased government initiative, and rising usage of printed signages for commercialization in the e-commerce industry in India and China, which leads to market growth
Professional Audio-Visual Systems Industry Overview
The professional audio-visual systems market is fragemented and highly competitive due to many small and large players providing their solutions in domestic and international markets. The brand identity associated with companies significantly influences the market. As strong brands are synonymous with better solutions, well-established players are expected to have the upper hand. Some of the major players in the market are AVI-SPL Inc., AVI Systems Inc., Ford Audio-Video LLC, and Solotech Inc., among others. Overall, the intensity of competitive rivalry among the vendors is expected to be high and increase during the forecast period.
- In Januray 2024 - AVI-SPL has has launched its Enterprise Managed Services solution, which includes digital signage, audio-visual (AV), and unified communications (UC) solutions for the workplace, in rooms, and on cloud. The key features of AVI-SPL’s Enterprise Managed Services are its extensive coverage, global reach, simple deployment, and comprehensive support.
- In March 2023, Alphatec AV announced the launch of two leading professional audio brands in India. The company will exclusively distribute BEC-AKUSTIK, a German loudspeaker manufacturer that specializes in ultra-flat and slim speaker designs, and Audio Pro, a Swedish audio company that has been designing and manufacturing speakers with advanced streaming technology and high sound quality.
- In August 2022, AVI-SPL announced it had opened a new office in Bangalore, its third location in India. With over a decade of experience serving clients in India, AVI-SPL formally established operations in the country with the incorporation of AVI-SPL India Private Limited. The Bangalore office would serve as a hub for customer development, audio-visual (AV) and unified communications (UC) engineering, project management, and managed services.
Professional Audio-Visual Systems Market Leaders
AVI-SPL
Diversified
AVI SYSTEMS
CCS Presentation Systems
Ford Audio-Video, LLC
*Disclaimer: Major Players sorted in no particular order
Professional Audio-Visual Systems Market News
- Februray 2024 - AVI Systems Signs Agreement With Audio Visual Associates of New Jersey to Further Expand the AVI Footprint in the Northeast United States and is ready to deliver world class solutions and support, reach, and the ability to scale with each client
- December 2023 - AVI-SPL has completed incorporation of AVI-SPL Japan Private Limited. AVI-SPL, With successful collaborations already in place with global technology and financial services customers, AVI-SPL sees significant potential in expanding its business locally by servicing booming industries in Japan, including healthcare, life sciences, renewable energy, and fintech.
Professional Audio Visual Systems Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Impact Of COVID-19 On The Market
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Intensity of Competitive Rivalry
4.4.5 Threat of Substitute Products
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
6.1.1 Capture and Production Equipment
6.1.2 Video Projection
6.1.3 Streaming Media, Storage, and Distribution
6.1.4 Services
6.1.5 Other Types
6.2 By End-user Vertical
6.2.1 Corporate
6.2.2 Venues and Events
6.2.3 Retail
6.2.4 Media and Entertainment
6.2.5 Other End-user Verticals
6.3 By Geography
6.3.1 North America
6.3.2 Europe
6.3.3 Asia-Pacific
6.3.4 Latin America
6.3.5 Middle-East and Africa
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 AVI-SPL Inc.
7.1.2 Diversified
7.1.3 AVI Systems Inc.
7.1.4 Ford Audio-Video LLC
7.1.5 CCS Presentation Systems Inc.
7.1.6 Solutionz Inc.
7.1.7 Electrosonic Group
7.1.8 Avidex (Telerent Leasing Corporation)
7.1.9 Solotech Inc.
7.1.10 Conference Technologies Inc.
7.1.11 Vistacom Inc.
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. MARKET OPPORTUNITY AND FUTURE GROWTH
Professional Audio-Visual Systems Industry Segmentation
A professional audio/visual (AV) system is a sophisticated interaction system installed for commercial sharing, advertising, and marketing. It is used in private and public complexes for electronic displays to deliver videos, web content, graphics, and texts. Lighting and sound devices, digital signage, video conferencing systems, companion whiteboard recording equipment, and projector systems are all part of it. These components help to improve overall user communication and connectivity and are also used in classrooms, presentations, and on-site product demonstrations.
The professional audio-visual systems market is segmented by type (capture and production equipment, video projection, streaming media, storage and distribution, and services), end-user vertical (corporate, venues and events, retail, media, and entertainment), and geography (North America, Europe, Asia-Pacific, Latin America, and Middle-East and Africa). The report offers the market size in value terms in USD for all the above mentioned segments.
| By Type | |
| Capture and Production Equipment | |
| Video Projection | |
| Streaming Media, Storage, and Distribution | |
| Services | |
| Other Types |
| By End-user Vertical | |
| Corporate | |
| Venues and Events | |
| Retail | |
| Media and Entertainment | |
| Other End-user Verticals |
| By Geography | |
| North America | |
| Europe | |
| Asia-Pacific | |
| Latin America | |
| Middle-East and Africa |
Professional Audio Visual Systems Market Research FAQs
How big is the Professional Audio-Visual Systems Market?
The Professional Audio-Visual Systems Market size is expected to reach USD 278.57 billion in 2024 and grow at a CAGR of 5.08% to reach USD 356.88 billion by 2029.
What is the current Professional Audio-Visual Systems Market size?
In 2024, the Professional Audio-Visual Systems Market size is expected to reach USD 278.57 billion.
Who are the key players in Professional Audio-Visual Systems Market?
AVI-SPL, Diversified, AVI SYSTEMS, CCS Presentation Systems and Ford Audio-Video, LLC are the major companies operating in the Professional Audio-Visual Systems Market.
Which is the fastest growing region in Professional Audio-Visual Systems Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Professional Audio-Visual Systems Market?
In 2024, the Asia-Pacific accounts for the largest market share in Professional Audio-Visual Systems Market.
What years does this Professional Audio-Visual Systems Market cover, and what was the market size in 2023?
In 2023, the Professional Audio-Visual Systems Market size was estimated at USD 264.42 billion. The report covers the Professional Audio-Visual Systems Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Professional Audio-Visual Systems Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Professional Audio Visual Systems Industry Report
Statistics for the 2024 Professional Audio-Visual Systems market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. 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.
