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Sound Creations invites you to explore the global technological trends and business developments in the professional audiovisual equipment (Pro AV) market for 2024 and the upcoming decade.
The global market for professional audiovisual solutions continues to evolve, with new product lines and sectors emerging.
According to 2024 data, the leading companies in the AV equipment market include:
- Asian Brands: Electronics Co. Ltd., Sony Group Corporation, Panasonic Corporation, Toshiba Corporation, Yamaha Corporation, Audio-Technica Corporation - U.S. Manufacturers: Bose Corporation, Crestron Electronics Inc., Anixter Inc., AVI Systems Inc., Avidex Industries LLC, Biamp Systems, CCS Presentation Systems LLC, Ford Audio Video Systems LLC, and operator Conference Technologies Inc. (CTI) - International Brand: AtlasIED - French Company: L-Acoustics - Israeli Manufacturer: Kramer Electronics Limited - German Brand: LD Systems L.P.
The trends shaping the global Pro AV market will significantly influence the CIS region, taking into account both global trends and the region's specific characteristics. Additionally, external factors like the economic aftermath of the pandemic, Western sanctions, and forced import substitution will further affect the Pro AV market situation in Russia and the CIS.
Let’s examine the key aspects shaping the trends and movements in the CIS region:
According to forecasts, the Pro AV market is expected to continue its growth trajectory. Analysts project an increase in the global market size from $3.91 billion in 2023 to $5.8 billion by 2028. The Pro AV market in the CIS is anticipated to grow from $1.2 billion in 2023 to $2.5 billion by 2033, representing a compound annual growth rate (CAGR) of approximately 8.1%. This surge in sales and sustained consumer interest in audiovisual solutions will create additional opportunities for suppliers and integration firms in the CIS, driving demand for AV products and services in the region.
Key growth factors for the Pro AV industry in the CIS include:
- Increased investments in educational and healthcare infrastructure.
- A rise in events and activities within the entertainment and event management sectors.
- High demand for unified communications and collaboration (UCC) solutions in the corporate sector.
The integration of Internet of Things (IoT) technology and artificial intelligence (AI) has led to innovative new products and the development of cloud computing platforms and professional audiovisual tools based on IoT. The merging of AV products and IT technologies has laid the groundwork for the development of AV over IP technology, initiating the supply of easily scalable, multifunctional AV systems with centralized management and monitoring. European analysts also highlight the impact of innovations such as 360-degree cameras for panoramic recording and virtual reality (VR) systems on the Pro AV market. The introduction of these products into the CIS market is expected to significantly improve service quality, enhance the competitiveness of local companies, and protect them from the cost-cutting pressures of the Asian market.
The expected growth of the Digital Signage market to $29.6 billion by 2025 will facilitate the adoption of new technologies and solutions in advertising and communication. Digital signage systems enable the creation of diverse, engaging, and vibrant advertising content, the ability to "try on" shoes or clothing, locate information and stores within a shopping mall, and order products. These systems enhance visitor comfort and attract consumer attention. Digital signage products will be in demand in projects for urban shopping areas, hotel entry zones, and corporate initiatives in the CIS that seek to digitize their operations.
The increasing demand for high-quality audiovisual solutions for events and the entertainment industry is expected to drive technological investments in new technologies, software, and equipment. The involvement of both public and private budgets in the Pro AV sector in the CIS will lead to further developments in innovation, elevate industry quality standards, and improve AV infrastructure for events.
The growth in sales and the increase in Pro AV projects globally are linked to the expansion and digitization of the healthcare and education sectors. The implementation of new technologies in the learning process and healthcare facilities will create demand from stakeholders in these industries for specialized solutions, opening new opportunities for local manufacturers and suppliers in the CIS.
Key technologies, solutions, and products expected to be in demand in educational institutions and healthcare organizations include interactive technologies such as interactive whiteboards and videoconferencing systems, as well as VR/AR platforms for simulations and training for medical professionals. Content management systems (CMS) for creating and distributing educational materials, high-quality audiovisual systems, surveillance systems, and cloud technologies for access to materials and online classes will also be crucial. Key products will include high-quality projectors and LED displays, wireless microphones, PTZ cameras for videoconferences, AV equipment management systems, and specialized software for content creation and student engagement analysis.
To engage audiences and retain the attention of modern consumers, event companies and entertainment industry professionals are experimenting with new methods, approaches, and products. These sectors encompass a wide range of activities and services aimed at creating, organizing, and delivering educational and entertaining experiences to audiences. Reliable and high-quality audiovisual solutions, clear sound with immersive effects, tools to enhance communication and audience engagement, interactive exhibits, immersive technologies, simulators, virtual environments, quiet projectors, audio media guides, and informational touchscreen kiosks will be popular in these industries.
Major companies in the professional audiovisual equipment (Pro AV) market are focusing on technology enhancements. The professional audiovisual solutions sector is expected to see rapid growth in new technologies and their integration into existing projects, accompanied by an increase in overall investments. Key technological trends will include continued advancements in visualization technology, the production of high-resolution displays, the use of AI for natural language processing, speech-to-text conversion, machine learning, predictive analytics, and collaborative applications.
The Pro AV market in the CIS is poised for significant growth through 2033, driven by the adoption of new technologies, rising demand for quality audiovisual solutions, and the introduction of new flagship audio equipment lines. Overall, the major trends currently transforming the global Pro AV market will create a conducive environment for growth and progressive development in the AV sector within the CIS in the near future. Key drivers will include an expanding number of projects in education, growth in the entertainment industry, and the active adoption of innovative technologies. Companies that are adaptable, capable of changing their business models, responsive to customer needs, and committed to implementing new technologies will be well-positioned to compete successfully in this expanding market.
Sources: The Business Research Company, MordorIntelligence
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