Albany, NY -- (SBWIRE) -- 10/18/2016 -- The report is titled, "Global Pro AV Market 2016-2020." It provides a comprehensive outlook of the growth of the global pro AV market along with the future growth opportunities that are likely to arise for manufacturers of pro AV.
The study presents an overview of the dynamics that are likely to positively or negatively impact the growth of the global pro AV market. An analysis of the prevalent trends has also been presented in the report. The report further estimates the revenue and volume growth of the global pro AV market. To offer a clear picture of the market, an assessment of the competitive landscape has also been provided along with information on the degree of entry and exit barriers. The report also evaluates the key strategies, products, and shares of companies operating in the global pro AV market. According to the report, the applications of pro AV are likely to increase in the long run owing to the fact that pro AV solutions enable quick communication by utilizing internet and cloud services.
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The report states that the global pro AV market is anticipated to witness a 12% CAGR during the forecast period of 2016-2020. Industries such as healthcare, manufacturing, retail, hospitality, government, financial services, and education utilize pro AV products such as projection systems, lighting, video, and audio. The growth of the global pro AV market can be credited to the rising deployment of controlled systems in corporate firms. Control systems enable interconnectivity of various AV equipment through a single access system, thus reducing extra cost and effort.
In terms of product, the global pro AV market is segmented into conferencing, sound reinforcement, projectors, AV acquisitions and delivery, and display. Display emerged as the leading product with a share of 26% in the market in 2015. Benefits of displays such as eye catching and effective content and frequent updates without additional expenses are likely to fuel its adoption over the forthcoming years. Based on service, the installation services segment emerged dominant and is expected to retain the lead until 2020 with a projected share of 54% in the same year. The growth of this segment is expected to intensify in the long run owing to the fact that all pro AV solutions and products require installations.
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Geographically, the global pro AV market was dominated by Asia Pacific and it is likely to remain the leading region in terms of consumption of pro AV solutions and products. The region is projected to hold a share of 39% by the end of the forecast period owing to the growing use of advanced techniques for communication and mounting adoption of high-end technology.
The competition among the players in the global pro AV market is high due to the presence of numerous small and large established players. The companies compete on the basis of brand image, pricing, and product portfolio. Some of the leading companies mentioned in the report are Vistacom, Unified AV, Technical Innovation, AVI-SPL, and Advanced AV.
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