The professional AV sector will grow by 5,6% annual, according to Avixa IOTA report

In the next five years, the professional AV industry will add, according to the forecasts of the study of Avixa, nearly 100.000 millions of dollars added to its global revenues.

The study of Avixa Industry Outlook and Trends Analysis 2023 (IOTA 2023) anticipates good news for the professional audiovisual sector, since he estimates that his global income will go from 307.000 millions of American dollars in 2023 a 402.000 millions in 2028, which represents a compound annual growth rate (CAGR) of the 5,6%.

Once recovered from the effects of the pandemic, “The AV industry is set to experience a period of healthy growth until 2028, even if the year-on-year percentages slowly decrease”, the study points out.

IOTA 2023 offers data and analysis on the size of the professional audiovisual sector from a global perspective, plus regional and vertical breakdowns. Research covers product trends, solution categories and vertical markets.

“This year's updated professional AV sector forecasts show that we have returned to the growth rate that would have been considered more normal before the pandemic,” he explains. Sean Wargo, vp. Avixa market intelligence. However, if seen below the surface, you can still see a varied panorama of opportunities. Las immersive experiences “In the venues and events market they are one of the most interesting solutions to follow closely”.

Although the year 2022 was slightly better than initially anticipated, According to the report, this came at the expense of growth results in 2023, since the recovery was advanced. In net terms, This year's total revenue reflects the offsetting effects of high demand and deflation in some core categories.

At rEMEA region (Europa, Middle East and Africa) experienced the lowest growth in 2022 due to the war between Russia and Ukraine. Inflation is higher, which slightly supports the increase in 2023, since it is “a event based marketplace, more than in the rest of the world”.

According to the IOTA report 2023, The live events market is benefiting from the return of audiences in EMEA, with a growth of 7,69%. Although overall growth is lower in the region, many of the main segments related to said environment experience a greater increase. He sustainable energy sector It is also a source of increased investment in AV solutions for professional use..

Las APAC economies (Asia – Peaceful) experience a greater growth every year, contributing to its position as the largest spending region in the professional AV industry, and here too it has been the return of live events that has reactivated the equipment rental and assembly services market.

The digital signage is expanding faster in APAC, with a rate of growth of 7,2% as the consumer base increases.

As for the American continent refers, The study indicates that it showed greater strength in 2022 thanks to the return of in-person events, but it is expected that in 2023 growth is less. The return to in-person modality is a mixed story in America.

From the corporate perspective, American companies have settled into a hybrid mode, driving lower growth in office conferencing solutions.

Although the professional AV sector is experiencing the last effects of growth due to the return to in-person presence, The venues and events sector is the one that invests the most in the continent and leads growth. Although the software boom is a global phenomenon, It is more pronounced in America, with an increase of almost 12%.

Although he corporate sector remains as the main source of income of the AV industry professional, the greatest growth occurs in event venues, as well as in the media and entertainment, environments that continue to be dominated by spending on technology for backend.

He content management hardware It is crucial to the efforts of companies, media and entertainment, and the venues that seek to offer content to their different audiences, whether they are employees or clients. Although the cloud has become an important part of spending, local hardware is still used for localized content management.

As travelers can attest during this summer period, los transport hubs (airports, train and bus stations) They have renovated their public use facilities, con digital signage at the core to guide and inform through more and more screens.

At the same time, the use of security and surveillance systems also grows, driving spending on AV products and solutions. Highlight the increasing investment in the transition to sustainable energy sources and in the improvement of distribution networks.

The report indicates the impact it has on the AV sector, especially in control room projects for supervision. Although it is not yet a large market, “it is advisable to pay attention to its evolution as high-level investments increase”.