Pro AV Market - Global Outlook & Forecast 2023-2028

Description

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?

Product Code: ARZ230912

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