Commercial Audiovisual Industry Grows WorldwideA new study is projecting that AV products and services will become a $91 billion global industry by 2012. 3/21/2010 1:31 PM Eastern
Commercial Audiovisual Industry Grows Worldwide
Mar 21, 2010 5:31 PM
A new study is projecting that AV products and services will become a $91 billion global industry by 2012. The 2010 InfoComm Global AV Market Definition and Strategy Study, conducted by Acclaro Growth Partners on behalf of InfoComm International, is the first worldwide study of its kind aimed at sizing the industry.
The growth of digital signage, videoconferencing, and command and control facilities resulted in an 8 percent compound annual growth in demand for AV products and services between 2006 and 2009. Despite a troubling economic environment in 2009, spending on AV goods and services did not contract. The study finds that the audiovisual industry was a $68 billion a year industry in 2009. A compound annual growth rate of 10 percent is projected for the three-year period from 2009 to 2012.
The fastest growing product categories are displays, AV conferencing equipment, streaming media and webcasting, wireless connections, and software. There is also an increasing demand for directional and cone loudspeakers in digital signage applications, designed to create an immersive experience for the consumer.
“As the global trade association for the commercial AV industry, InfoComm International is a leading provider of market research that sizes the AV industry in terms of products and services to identify trends,” says Randal A. Lemke, executive director and CEO, InfoComm International. “While we are heartened by the findings of this study, we are not surprised. The audiovisual industry is growing because society relies on AV technology to provide essential communications solutions.”
AV applications such as digital signage, videoconferencing, and digitized high-end audio systems will continue to drive growth for the next three years. In addition, the top AV control systems manufacturers’ ability to provide total building automation will create additional growth because of emerging concerns relating to energy efficiency and building sustainability.
Contracts for service and maintenance of AV systems are also increasing. The fastest growing services are programming, maintenance and training, and other services. Technology managers have expressed a growing need for service contracts as AV systems have become complex and more mission-critical to the government, institutions, and corporations.
The corporate, education, and government markets are the three largest consumers of AV products and services. The growing need for communication and collaboration in these environments fuels reliance on AV technology.
The findings of The 2010 InfoComm Global AV Market Definition and Strategy Studywhich include a global overview and information by regions including North America, Latin America, Europe, Asia-Pacific, and Africa-Middle Eastwere released at Integrated Systems Europe (ISE), the largest audiovisual and systems integration tradeshow in Europe. The study can be purchased in its entirety or by regional section at www.infocomm.org/store.