The professional AV sector will grow by 5,6% annual, according to Avixa's IOTA report

In the next five years, the professional AV industry will add, according to the forecasts of the study of Avixa, near 100.000 million dollars in addition to its global revenues.

The study of Avixa Industry Outlook and Trends Analysis 2023 (iota 2023) anticipates good news for the professional audiovisual sector, because it estimates that its global income will exceed 307.000 million US dollars in 2023 to 402.000 millions in 2028, which implies a compound annual growth rate (CAGR) of the 5,6%.

Once recovered from the effects of the pandemic, "The AV industry is poised for a period of healthy growth until 2028, even if year-on-year percentages decline slowly", notes the study.

iota 2023 Offers Data and analysis on the size of the professional audiovisual sector from a global perspective, as well as regional and vertical breakdowns. Research covers product trends, Solution Categories and Vertical Markets.

"The update of this year's professional AV industry forecasts shows that we have returned to the pace of growth that would have been considered more normal before the pandemic," he explains. Sean Wargo, Vp. Avixa- market intelligence. However, if observed below the surface, You can still see a Varied landscape of opportunities. the immersive experiences in the market of venues and events are one of the most interesting solutions to follow closely".

Although the year 2022 was slightly better than initially anticipated, According to the report, this came at the expense of growth results in 2023, since the recovery was brought forward. In net terms, This year's total revenues reflect offsetting effects of high demand and deflation in some core categories.

The rEMEA Region (Europe, Middle East and Africa) experienced the lowest growth in 2022 due to the war between Russia and Ukraine. Inflation is higher, so it slightly underpins the increase in 2023, since it is "a Event-based market, more than in the rest of the world".

According to the IOTA report 2023, the live events market is benefiting from audience return in EMEA, with a growth in the 7,69%. Although global growth is lower in the region, Many of the major segments related to such an environment experience a greater increase. the Sustainable energy sector is also a source of increased investment in AV solutions for professional use.

the APAC economies (Asia – Peaceful) experience a Increased growth every year, contributing to its position as the largest spending region in the professional AV industry, And here too it has been the return of live events that has reactivated the market for equipment rental and assembly services..

the digital signage is expanding faster in APAC, with a rate of growth of the 7,2% As the consumer base grows.

As for the Americas Refers, The study notes that it showed greater strength in 2022 thanks to the return of face-to-face events, but It is expected that in 2023 growth is lower. The return to face-to-face is a mixed story in America.

From the corporate perspective, U.S. companies have settled into a hybrid mode, driving lower growth in office conferencing solutions.

Although the professional AV sector experiences the latest effects of growth due to the return to face-to-face, The venues and events sector is the one that invests the most in the continent and leads the growth. While the software boom is a global phenomenon, is more pronounced in America, with an increase of almost 12%.

Although the Corporate Sector It remains as the main source of income of the AV industry professional, The greatest growth is in event venues, as well as in media and entertainment, environments that continue to be dominated by technology spending for the backend.

the Content Management Hardware is crucial to companies' efforts, Media and entertainment, and venues that seek to offer content to their different audiences, whether employees or customers. Although the cloud has become a major part of spending, Local hardware is still used for localized content management.

As travelers can attest in this summer period, the transport hubs (Airports, Train and bus stations) have renovated their facilities for public use, with Digital signage at its core to guide and inform through more and more screens.

At the same time, the use of Security and surveillance systems It also grows, what drives spending on AV products and solutions. Highlight the increasing investment in the transition to Sustainable energy sources and in the improvement of distribution networks.

The report points out the impact it has on the AV sector, especially in Control Room Projects for monitoring. Although it is not yet a large market "it is convenient to be attentive to its evolution as high-level investments increase".

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