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Impact Analysis of Covid-19
The complete version of the REPORT will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Market Overview
Pro AV refers to an advanced audio-video system integration used for commercial purposes. Pro AV uses various components such as display components, camera, audio components, computer, controller, room scheduler, companion whiteboard, advanced options such as digital signage, and other supporting accessories. All these components connectively help to improve the connectivity and communication between offices of two different locations. Therefore, it is used in various sectors, which include education, government, hospitality/retail, and others.
The global Pro AV market was valued atUS$ 246.5 Bnin2019and is expected to exhibit aCAGR of 11.2%during the forecast period(2020-2027).
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Competitive landscape
Key companies operating in the global Pro AV market include Anixter International Inc., AVI Systems Inc., AVI-SPL Inc., CCS Presentation Systems, Diversified, Ford Audio-Video LLC., New Era Technology, Telerent Leasing Corp., Unified Technology Systems, Vistacom Inc., Biamp Systems, proAV Limited, Professional Audio Visual Ltd., and others.
These key market players are focusing on strategic expansions to meet the increasing consumer demand.
Market Dynamics- Drivers
Increasing use of smart learning in education sector is expected to drive growth of the global Pro AV market during the forecast period
Pro AV provides certain features such as interactive multi-touch Ultra HD (4K) screen, multiple wireless screen support, multiple personal computer support, individual activity control, and others. Hence, use of Pro AV technology in the smart learning market is rapidly increasing. The global smart learning market is growing, which will help the Pro AV market to exhibit growth over the forecast period. According to Coherent Market Insights’ analysis, the global smart learning market is expected to rapidly grow from US$ 23.7 billion in 2019 to US$ 65.5 billion by 2027, with CAGR 22.1% during the forecast period 2020-2027. Thus, increasing use of smart learning in the education sector is expected to drive growth of the global Pro AV market during the forecast period.
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Market Trend
The integration of telecommunication applications such as Skype is a major trend in the global Pro AV market
Key players in the market are integrating companies’ Pro AV products with telecommunication applications such as Skype, zoom, and others. This enables key players to provide services across all types of screens such as smartphones, tablets, and smart TV. Furthermore, the integration of telecommunication applications with Pro AV products will reduce the complexity of the user interface, as it does not require any specific training for use. Due to simplicity of operation, key players are providing products equipped with telecommunication applications. For instance, Pro AV Solutions Pty Ltd is providing Pro AV products equipped with Skype for a business tool. Through this product, meeting rooms can be accessed from any device such as laptops, smartphones, and others.
The global Pro AV market was valued atUS$ 246.5 Bnin2019and is expected to reach a value ofUS$ 518.26 Bnby2027at aCAGR of 11.2%between2020 and 2027.
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