InfoComm International has released seven research studies commissioned to investigate trends in various customer segments served by the pro AV industry.
The seven InfoComm 2015 Vertical Markets End-user Perspective Studies offer critical insight into the corporate, education, government, retail, healthcare, hospitality and venue (including house of worship) markets. Each in-depth study is roughly 80 pages and based on secondary research and interviews with technology end-users around the world.
“These Vertical Markets Studies paint an exciting picture for AV companies that are looking to grow their businesses and meet the evolving needs of customers,” says David Labuskes, CTS, RCDD, executive director and CEO of InfoComm International. “As AV professionals know, every market is different and every end-user brings a unique perspective on what makes an exceptional AV experience. These reports provide you with a direct line of sight into the mind of your prospect or customer. InfoComm hopes that, armed with this information, you can continue to meet customers’ needs and drive this growing industry forward.”
InfoComm commissioned Acclaro Growth Partners, which has worked in the past on the association’s Global Market Definition and Strategy Study (MDSS), to conduct an international vertical markets study. Among the goals was to explore the profiles of people who buy AV goods and services and the decision-making criteria they employ.
According to InfoComm’s 2014 MDSS, the worldwide market for pro AV products and services grew to $91.8 billion in 2014, from $75.5 billion in 2012. It is projected to hit $114.2 billion in 2016.
“The more you know about your customer, the more successful you’ll be at closing the deal,” says James Chu, director of market research for InfoComm International. “With these insights about end-user product and technology usage, investment, decision-making, and more, AV professionals will have a head start in building critical business relationships and providing exceptional experiences.”
Researchers found that in certain segments, end-users reported that they were able to deliver considerable return on investment by standardizing on AV technology. Standardization helped drive buy-in across their organizations. “Without exception, the business case leads the investment,” researchers wrote. “End-users are not investing in technology for technology’s sake.” Other highlights:
• Corporate: The growing influence of consumer products is changing employee expectations of AV technology in the workplace. This technology is driving corporations to invest in AV solutions in the workplace.
• Education: In this market, AV technology contributes to delivering greater outcomes. AV is no longer a luxury; it’s a must-have in order to attract students.
• Retail: Most of the growth in this segment is in the high-end of the retail segment, while the low-end is more cost conscious and driven by the trend to lower-cost displays and out-of-the-box digital signage offerings.
• Government: Government customers are investing in AV solutions for training and meeting rooms, with a particular demand for mobile and video collaboration. Government remains an influential sector of the global pro-AV market by influencing the purchases of other customer segments.
• Healthcare: The goal of many healthcare end-users is to invest in technologies that reduce costs while improving outcomes. The bulk of the opportunity is on the enterprise side of the healthcare market, rather than specialized patient-facing technology. There is also a high demand for AV technology in medical education facilities.
• Hospitality: AV is in high demand in the hospitality segment, driven by guest expectations. With the hotel and cruise industries growing worldwide, implementing guest-facing AV technologies is of growing importance for brand competition.
• Venues: The tech-savvy public has high expectations for their experiences at event venues. Large and small venues worldwide are adopting the latest technologies in order to remain competitive and drive sales.
For more information and to purchase these reports, visit infocomm.org/verticalmarkets.