Ahead of its publication in July, InfoComm International revealed a few headline statistics from its Global AV Market Definition and Strategy Survey at InfoComm 2014.
1. Value of the audiovisual market
The survey found that the value of the audiovisual market continues to grow at a healthy rate. Valued at $75bn in 2013, the survey predicts that the industry will generate $92bn in 2014 and $116bn in 2016 - a compound annual growth rate of 11% over the four-year period. HOwever, growth is not universal.
2. APAC moves ahead
For the first time, the contribution of the Asia Pacific market is set to outstrip that of North America by 2016.
3. Three sectors generate more than half the revenue
The corporate market is the single largest revenue generator, with a 30% contribution. Next is venues and events (14%), closely followed by government and military (12%).
4. Software to double in four years
The AV software business, which was worth $839m in 2012, will increase to a predicted $1.68bn in 2016.
5. Fast-growing product sectors
The fastest-growing product sectors globally are control systems, software, AV acquisition and delivery, and displays.
In addition to the global overview, five reports on regions, plus country reports on Brazil and China, will be released in July. A total of 17 reports will be released at InfoComm events around the world. The study will be available to purchase, in whole or in part, from InfoComm's online store.