Comprehensive Professional Audio-Visual (Pro AV) Market Analysis 2024: Size, Share, And Key Trends
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033
The professional audio-visual (Pro AV) market has grown rapidly in recent years, with its size increasing from $3.55 billion in 2023 to $3.91 billion in 2024, representing a compound annual growth rate (CAGR) of 10.2%. This growth is attributed to factors such as the expansion of the healthcare and education sectors, the integration of IoT and AI technologies, a growing demand for unified communication and collaboration (UCC) solutions, and the increasing desire for immersive experiences. The market is expected to continue its rapid expansion, reaching $5.8 billion by 2028 at a CAGR of 10.4%. This future growth can be linked to the development of advanced audio equipment, rising demand for high-quality audiovisual experiences, and increased adoption in the events and entertainment industries. Key trends in the forecast period include rapid advancements in display technologies, high-resolution displays, significant investments and integration of Pro AV technology, and the incorporation of artificial intelligence.
The increasing adoption in the events and entertainment industries is expected to drive the growth of the professional audiovisual (pro-AV) market going forward. The events and entertainment industries encompass various activities and services aimed at creating, organizing, and executing audience experiences. This growing demand for pro-AV services is driven by businesses and organizations that rely on high-quality, immersive AV solutions to enhance communication, engagement, and overall experience. For instance, according to Live Nation Entertainment’s annual report published in February 2024, the company generated $18,734 million in revenue from concerts in 2023, up from $13,494 million in 2022, reflecting a 39% growth. Therefore, increasing adoption in the events and entertainment industries is driving growth in the pro-AV market.
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What Are The Key Trends That Influence Professional Audio-Visual (Pro AV) Market Share Analysis?
Major companies operating in the professional audiovisual (pro-AV) market are focusing on advancements in display technologies, such as next-generation studio monitors, to enhance sound precision and provide superior audio quality for professional settings. For instance, in November 2023, Yamaha Corporation, a Japan-based musical devices and audio instrument manufacturing company, launched the latest generation of its HS Series studio monitors, the HS3 and HS4. These new models are compact and portable, featuring a class-D amplifier, room control, and high-trim functions for customizable sound. The rear panels include an external line return (XLR) or tip ring sleeve (TRS) phone, radio corporation of America (RCA), and stereo mini-jacks for versatile connectivity with various devices. Both models also incorporate Yamaha’s proprietary twisted flare port technology to minimize air turbulence noise, delivering more precise and accurate bass.
Which Market Players Are Driving Growth In The Professional Audio-Visual (Pro AV) Market?
Major companies operating in the professional audio-visual (Pro AV) market are Samsung Electronics Co. Ltd., Sony Group Corporation, Panasonic Corporation, Toshiba Corporation, Koninklijke Philips N.V, Yamaha Corporation, Bose Corporation, Crestron Electronics Inc., Anixter Inc., AtlasIED, AVI Systems Inc., Conference Technologies Inc (CTI), Avidex Industries LLC, Kramer Electronics Limited, Biamp Systems, Ford Audio Video Systems LLC, L-Acoustics Inc., LD Systems L.P, CCS Presentation Systems LLC, Audio-Technica Corporation, Pro Audio & Video Systems Corp.
How Is The Global Professional Audio-Visual (Pro AV) Market Segmented?
1) By Type: Products; Services
2) By Distribution Channel: Direct Sales; Distributors
3) By Application: Home Use; Commercial; Education; Government; Hospitality; Retail; Other Applications
Read The Full Professional Audio-Visual (Pro AV) Market Report Here
The Professional Audio-Visual (Pro AV) Global Market Report 2024 provides an overview of the professional audio-visual (pro av)market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The professional audio-visual (pro av) market forecast analyzes professional audio-visual (pro av) market size, professional audio-visual (pro av) market share, leading competitor and their market positions.
The Table Of Content For The Professional Audio-Visual (Pro AV) Market Include
1. Professional Audio-Visual (Pro AV) Market Executive Summary
2. Professional Audio-Visual (Pro AV) Market Segments
3. Professional Audio-Visual (Pro AV) Market Size And Template Market Growth Rate
4. Key Professional Audio-Visual (Pro AV) Market Trends
5. Major Professional Audio-Visual (Pro AV) Market Drivers
……
25. Key Mergers And Acquisitions In The Professional Audio-Visual (Pro AV) Market
26. Top Professional Audio-Visual (Pro AV) Companies
27. Professional Audio-Visual (Pro AV) Market Opportunities And Strategies
28. Professional Audio-Visual (Pro AV) Market, Conclusions And Recommendations
29. Appendix
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