LONDON--(BUSINESS WIRE)--The global pro AV market is expected to post a CAGR of more than 10% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
End-users across industries such as retail are increasing the adoption of digital signage systems to target the right audience and boost sales. Also, the growing popularity of interactive digital signage systems is helping businesses attract customers with interesting content. The interactive digital signage systems find many applications in retail, corporate offices, transportation, exhibition halls, hotels, stadiums, and several public places. Pro AV is an essential component of digital signage systems. With the growing use of digital signage systems, the demand for pro AV products will increase during the forecast period.
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As per Technavio, the incorporation of new technologies will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2020-2024.
Global Pro AV Market: Incorporation of New Technologies
Consumers are increasingly adopting new devices such as 360-degree cameras, drones, and VR equipment. The growing popularity of such devices is encouraging the development of exclusive content for these devices. With the emergence of new products and platforms, market vendors are integrating new features in their products to provide support for new categories such as VR content. The increasing adoption of such specialized content will positively impact the growth of the global pro AV market during the forecast period.
“Apart from the incorporation of new technologies, training for pro AV equipment and transition to mobile platforms are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Pro AV Market: Segmentation Analysis
This market report segments the global pro AV market by geography (APAC, Europe, MEA, North America, and South America) and type (products and services).
The APAC region led the market in 2018, followed by North America, Europe, South America, and MEA, respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market. This is due to the growing shift toward the adoption of technologically advanced tools in classrooms in the region.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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