POV: AV Industry Strong in 2008InfoComm International regularly conducts in-depth market and industry studies to keep its members informed on all aspects of their markets. One of the 3/01/2008 7:00 AM Eastern
POV: AV Industry Strong in 2008
Mar 1, 2008 12:00 PM, By Randal A. Lemke, Ph.D.
InfoComm International regularly conducts in-depth market and industry studies to keep its members informed on all aspects of their markets. One of the association's most recent efforts is the 2008 Market Forecast Survey. This research program has been conducted since 2002 to keep members abreast of market trends and emerging issues in the audiovisual and information communication industries.
The 2008 Market Forecast Survey explores a variety of issues that are shaping the AV industry, including vertical-market trends, company performance forecasts, strategic actions underway and under consideration, and revenue/turnover source trends. The data is drawn from a global sample spanning 30 countries that are segmented by company type, size, and location in the survey.
Business/IT and education markets dominate the list of current revenue/turnover sources, accounting for an average of nearly one-half of the total revenue generated by the survey respondents. Over the next three years, the business/IT market is expected to provide the greatest share of revenue, offer the greatest opportunities for company growth, and be the largest market for AV products/services industry-wide. Business/IT and education markets earn a tie response when survey respondents select the market that will show the greatest increase in demand for AV products and services.
It is interesting to note that while the business/IT market is expected to comprise the greatest share of company revenue, the education market is expected to provide the greatest share of revenues for independent design consultants over the next three years. The education market also figures predominantly among European companies, where that market is closely associated with the business/IT market. In addition, independent design consultants are far more likely to identify the government/military and education markets as the best for growth opportunities, while the other segments of the AV industry predict the business/IT market will provide the most growth. Nearly a quarter of independent design consultants predict the healthcare market will the greatest growth over the next three years.
One thing is clear: AV professionals are open to embracing new technologies and markets in order to grow their businesses. More than 40 percent plan to expand their company's focus to encompass new technologies, and nearly a third plan to expand their focus into new vertical markets.
How will the AV marketplace deal with this continued period of growth? Nearly 60 percent plan to hire additional technical staff, while nearly 55 percent will make providing additional training for existing staff a priority.
Throughout the year, InfoComm's audiovisual education and certification programs are the AV industry's leading professional development resource. With more than 50,000 enrollments since 1997, the InfoComm Academy offers an extensive range of AV courses designed and taught by InfoComm's expert faculty members representing the entire spectrum of technical, sales, management, and professional disciplines. Courses can be taken online; at the Fairfax, Va., headquarters; around the world; and at the InfoComm tradeshow, which will be held June 14-20, 2008, in Las Vegas. Last year's show saw more than 8,600 course registrations. On any given day, more than 3,000 students are enrolled in InfoComm training and certification.
InfoComm and its Professional Education and Training Committee (PETC) will continue to develop classes to meet the ever-changing training needs of the AV community. InfoComm is committed to compiling and promoting the industry's vast body of knowledge and developing best practices in order to advance the skills of industry professionals and providing the audiovisual industry with quality training that stays ahead of technology trends.
Randal A. Lemke, Ph.D., is the executive director of InfoComm International. For more information on the 2008 Market Forecast Survey, or to view a list of InfoComm Academy classes, please visit www.infocomm.org.