Pro AV Market Size, Share, and Industry Analysis, By Type (Products and Services), By Application (Entertainment, Hospitality, Retail, Corporate, Transportation, and Others), and Regional Forecast, 2024-2032

Pro AV (professional audio-visual) refers to professional grade audio visual systems. These systems are designed to deliver high-end features and cutting-edge technology to enterprises, enabling customers to achieve video, audio, and communications outcomes that are better than normal customer-grade equipment. The complexity of Pro AV systems makes them appropriate for professional use in numerous industries, including education, corporate communications, entertainment, retail, medical, and government. Additionally, these systems provide blended technology solutions, which syndicate different solutions into one, including streaming, audio and video recording, digital signage, interactive displays, and more. There is no boundary to the applications of Pro AV systems, as their competencies are continually proceeding. For instance,

• As per industry experts, about 35% of Americans over the age of 18 own at least one smart speaker. The percentage of mature Americans spending on a voice assistant is approximately double that of smart speaker ownership, attaining 62% when TVs, smartphones, cars, and CPUs with voice assistants are included.

Moreover, the market is perceiving a fast integration of the Internet of Things (IoT). With the growing permeation of the internet, gadgets are getting more digitized. IoT is being connected to modernize manufacturing processes, enhance supply chain management (SCM), and provide personalized consumer experiences. Businesses are spending on IoT to provide proactive services and contribute to the market expansion. For instance,

• In June 2020, WESCO International Inc. announced its acquisition of Anixter International. The merger within the firms creates the premier electrical, communications and utility distribution and supply chain solutions globally.

Impact of Generative AI on the Pro AV Market

Generative AI (artificial intelligence) is transforming the Pro AV market by enabling advanced content creation, personalized experiences, and streamlined production processes. It is enhancing content generation for digital signage, live events, and interactive installations, offering more dynamic and engaging experiences for audiences. Furthermore, AI-powered tools are automating tasks such as video editing, content curation, and real-time translation, allowing Pro AV professionals to work more efficiently and creatively. Overall, generative AI is revolutionizing how content is created, delivered, and experienced in the pro AV market. Therefore, these factors boost the market growth. For instance,

• Pexip, a producer of UCC Solutions, is using AI technology to make planning, joining, and conducting a meeting easier so consumers can focus on the meeting itself, allowing the individuals to save time by allowing them to effortlessly join a meeting from the right device at the right team.

Key Insights

The report covers the following key insights:

• Micro Macro Economic Indicators


• Drivers, Restraints, Trends, and Opportunities


• Business Strategies Adopted by Key Players


• Impact of Generative AI on the Global Pro AV Market


• Consolidated SWOT Analysis of Key Players

Segmentation

By Type

The products segment dominated the market, with the highest market share. The comprehensive variety of products offered in the market, giving customers the flexibility to select the best-suited products that meet their requirements and needs, contributes to the segmental dominance. The improved research and development spending also expands the segment growth. Incorporating AR, AI, and IoT will also offer better opportunities for industry players.

Regional Analysis

The global pro AV market is distributed into five regions: North America, South America, Europe, the Middle East & Africa, and Asia Pacific. As of 2023, Asia Pacific accounts for the highest market share across the global market. The growing adoption of smart technologies in the education sector and the rising popularity of e-learning platforms will contribute to the regional growth. The increasing popularity of homes, smart offices, and other commercial spaces will also bode well for the market. The digitization and automation of the Indian economy will offer numerous growth opportunities to market players in the Asia Pacific region. Thus, the rising innovation will also push the market growth. For instance,

• In January 2022, Microsoft Corporation announced its acquisition of Activision Blizzard Inc. The acquisition within the firm quickens the growth in Microsoft’s gaming industry through PC, mobile, cloud and console and will deliver building blocks for the metaverse.

As per the industry experts, the Indian online education industry recorded an expansion of about six times as of August 2022. Estimates pointed out that the eLearning platforms globally would exceed USD 243 billion by 2022. These forecasts state that eLearning is all set to become an overall trend, and sooner, more individuals may opt for it over modern classrooms.

Global Distribution of the Pro AV Market, By Region

• North America –23%


• South America – 5%


• Europe – 26%


• Middle East and Africa – 11%


• Asia Pacific –35%

Key Players Covered

The report provides the profiles of key players such as Vistacom Inc., Telerent Leasing Corp., Solutionz Inc., New Era Technology Inc., Microsoft Azure, Ford Audio-Video Systems LLC, CCS Presentations LLC, Biamp Systems Inc., AVI Systems Inc., and Anixter International Inc.

Key Industry Developments

• In February 2024, CTI announced its acquisition of Vistacom Inc. The acquisition between the companies adds the introduction of Vistacom's proven NOC and Control Room design and integration services to CTI’s portfolio. The portfolio supports customer needs and increases employees' access to openings.


• In January 2023, OpenAI and Microsoft extended a partnership to advance cutting-edge AI research responsibly and democratize AI as a new technology platform. The partnership offers organizations and developers across industries to have contact with the best AI models, infrastructure, and toolchains through Azure to form and run their applications.