The professional audio-visual (pro av) global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Professional Audio-Visual (Pro AV) Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The professional audio-visual (Pro AV) market size has grown rapidly in recent years. It will grow from $3.55 billion in 2023 to $3.91 billion in 2024 at a compound annual growth rate (CAGR) of 10.2%. The growth in the historic period can be attributed to the growth of the healthcare and education sector, integration of IoT and AI, growing demand for unified communication and collaboration (UCC) solutions, and increasing demand for immersive experiences.
The professional audio-visual (Pro AV) market size is expected to see rapid growth in the next few years. It will grow to $5.8 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%. The growth in the forecast period can be attributed to the development of advanced audio equipment, increasing demand for high-quality audiovisual experiences, and increasing adoption in events and entertainment industries. Major trends in the forecast period include rapid advancements in display technologies, high-resolution displays, technological innovation, significant investments and integration of pro AV (audio visual) technology, and integration of artificial intelligence.
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The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
The increasing adoption in the events and entertainment industries is expected to drive the growth of the professional audiovisual (pro-AV) market going forward. The events and entertainment industries encompass various activities and services focused on creating, organizing, and executing audience experiences. There is a growing demand for professional audiovisual (pro-AV) services because businesses and organizations increasingly rely on high-quality, immersive AV solutions to enhance communication, engagement, and the overall experience. The events and entertainment industries use professional audiovisual (pro-AV) services to create dynamic, immersive experiences that captivate audiences and ensure seamless execution of performances and presentations, leveraging advanced technology for superior sound, visuals, and overall production quality. For instance, in February 2024, according to the annual report published by Live Nation Entertainment, a US-based live entertainment company, the company generated $18,734 million in revenue from concerts in 2023, up from $13,494 million in 2022, marking a 39% growth. Therefore, increasing adoption in the events and entertainment industries drives growth in the professional audiovisual (pro-AV) market.
Market Trends –
Major companies operating in the professional audiovisual (pro-AV) market are focusing on advancements in display technologies, such as next-generation studio monitors, to enhance sound precision and provide superior audio quality for professional settings. For instance, in November 2023, Yamaha Corporation, a Japan-based musical devices and audio instrument manufacturing company, launched the latest generation of its HS Series studio monitors, the HS3 and HS4. These new models are compact and portable, featuring a class-D amplifier, room control, and high-trim functions for customizable sound. The rear panels include an external line return (XLR) or tip ring sleeve (TRS) phone, radio corporation of America (RCA), and stereo mini-jacks for versatile connectivity with various devices. Both models also incorporate Yamaha’s proprietary twisted flare port technology to minimize air turbulence noise, delivering more precise and accurate bass.
The professional audio-visual (Pro AV) market covered in this report is segmented –
1) By Type: Products, Services
2) By Distribution Channel: Direct Sales, Distributors
3) By Application: Home Use, Commercial, Education, Government, Hospitality, Retail, Other Applications
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Regional Insights –
North America was the largest region in the professional audio-visual (Pro AV) market in 2023. The regions covered in the professional audio-visual (Pro AV) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the professional audio-visual (Pro AV) market are Samsung Electronics Co. Ltd., Sony Group Corporation, Panasonic Corporation, Toshiba Corporation, Koninklijke Philips N.V, Yamaha Corporation, Bose Corporation, Crestron Electronics Inc., Anixter Inc., AtlasIED, AVI Systems Inc., Conference Technologies Inc (CTI), Avidex Industries LLC, Kramer Electronics Limited, Biamp Systems, Ford Audio Video Systems LLC, L-Acoustics Inc., LD Systems L.P, CCS Presentation Systems LLC, Audio-Technica Corporation, Pro Audio & Video Systems Corp.
Table of Contents
1. Executive Summary
2. Professional Audio-Visual (Pro AV) Market Report Structure
3. Professional Audio-Visual (Pro AV) Market Trends And Strategies
4. Professional Audio-Visual (Pro AV) Market – Macro Economic Scenario
5. Professional Audio-Visual (Pro AV) Market Size And Growth
…..
27. Professional Audio-Visual (Pro AV) Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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