Welcome to Q4! Or at least perhaps it will be by the time you read this. As we kick it off, we thought it would be worth providing a quick look at which verticals are showing the strongest demand this quarter based on the most recent MOAR survey results. Two jump out at the top of the demand charts -- corporate and retail. The first certainly making sense given the continual need to invest in response to hybrid work modes. Retail may surprise a bit given the challenges of brick-in-mortar, though seasonality likely plays a role. One might expect stores to be gearing up for the holidays, which the data does support. 

On the other end of the demand spectrum are education and hospitality. Here again seasonality plays in, though for a different reason. Classes are in session so cap-ex spending and corresponding projects slow for education. And hospitality is entering a peak season and so may also slow big projects. Then again, this market may also be hedging a bit while it waits for revenues to continue their return. A threat of recession may generate a more conservative approach. A steady decline in AV demand by hospitality has been shown over the past several quarters, pointing more towards a softening. Check back with us again at the beginning of Q1 2023 to see how things are shaping up then!