According to AVIXA's market intelligence, opportunities in the AV market are looking pretty good: Pro AV represents a $258 billion industry in 2022 and is expected to grow at a compound annual rate of 7.2% from 2021 to 2026, outpacing the broader economy.
Here' are some highlights from @Sean Wargo @Peter Hansen:
Conferencing and Collaboration
Conferencing and collaboration is the single largest solution area for pro AV and the one that weathered the pandemic storm the best thanks to global emphasis on solutions to support remote activities. It represents $46 billion in Pro AV spending in 2022 after maintaining growth over the past two years while almost all other solutions declined.
Content Production/ Streaming
Another adaptive to the pandemic when reaching customers and audiences in-person became unsafe was the effort by enterprises of many kinds to stand up increased capacity for the production and streaming of content. This solution area also maintained steady growth during the height of the pandemic and is estimated at $32B for 2022. Growth is forecast to be a modest 6% over the 2021-2026 timeframe, below industry average but helping it maintain prominence of one of the largest solution areas.
While other areas realize larger growth rates as they recover from deeper pandemic impacts, digital signage is second only to conferencing and collaboration in terms of annual associated revenue for pro AV. The IOTA reports forecast 2022 to generate $35 billion in revenues for the industry and realize a 7% CAGR from 2021 to 2026 as its core markets of retail, venues, and hospitality return to more normal levels of activity.
Not to be confused with the education market itself, learning solutions include any and all technologies to support learning across all vertical markets, including corporate, hospitality, or government. In ways, these solutions represent the core of the traditional AV profession as it hearkens back to the days of projectors and other classroom technology. It has grown to include dedicated online and distance learning technology, keeping it in the top 3 solution areas and generating $35B in global pro AV revenues. Investments in classrooms themselves are returning, even as the solution blurs with conferencing and collaboration in a virtual learning world. Growth here is also expected to be modest at nearly 5% over 5 years.
What are you seeing in your local markets? Noticing these trends or seeing other challenges and opportunities?