AVIXA Pro AV Business Index shows July marked another good month for the pro AV industry, after a record high last month. The AV Sales Index (AVI-S) scored its second-highest figure since the start of the pandemic. At 66.0, the reading was a modest deceleration from the June mark of 69.6, but it was still comfortably ahead of any other mark set since the pandemic. In fact, this was the second-fastest growth month since 2018.
Growth may have been slower than in June, but it was still very rapid. There were two clear business challenges in July: the rise of the COVID-19 delta variant and supply difficulties. With the delta variant, commenters pointed to its delaying effects on the return of live events and return to office. Supply was more of a “good” problem in that it was a challenge for companies that were experiencing high demand. Still, it is a barrier to growth as work proceeds more slowly and companies are sometimes forced to turn down work.
“From our data, COVID-19 looks like the bigger reason for slower (though still fast) growth in July,” said Peter Hansen, economic analyst, AVIXA. “We just completed a deep dive into supply issues for a third quarter Macroeconomic Trends Analysis report, and a few lessons there are clear: one, supply issues are longer term, so not affecting July too much more than June. Two, pro AV companies are managing supply issues well. Some projects are slower, and some prices are up, but as we show in the report, there are lots of effective ways to grow revenue despite the difficulties.”