Your browser is out-of-date!

Update your browser to view this website correctly. Update my browser now

×

InfoComm/IHS Markit: European pro AV market to reach $43 billion in 2022

At ISE 2017, InfoComm International released some preliminary results from its new AV Industry Outlook and Trends Analysis(IOTA) report for the European market – ahead of the publication of the full report, which is currently scheduled for April.

InfoComm, which is a co-owner of Integrated Systems Europe, has partnered with IHS Markit, a global leader in critical information, analytics and solutions, in the preparation of this all-new forecast of the market for professional audiovisual products and services worldwide. The comprehensive set of reports, due for release this year, supersede InfoComm’s previous Market Definition and Strategy Study series of research products, which was last updated in 2014 and forecast the pro-AV industry through to 2016.

The report predicts that the European pro AV industry will see steady growth between 2017 and 2022, following a low point in 2016. Overall market value this year will be just under US$35 billion, growing to around $43 billion in five years’ time. Of the ten product segments used to categorise the market, only video projection is forecast to shrink, as flat panels and LED displays take an increasing market share. The market for latter two technologies is forecast to double during the period.

Another major trend identified in the report is for pro AV hardware to be replaced by commodity IT equipment and cloud services on the one hand, and by consumer-grade pro-capture equipment on the other. Pro AV storage as a service, which already represents more than half of the pro AV storage market, will continue to displace pro AV storage equipment.

At the same time, pro AV equipment and services are set to expand to more markets. Smart homes will bring high-grade AV equipment more into the consumer space; and AV will increase penetration in sectors including commercial, education, government, hospitality and retail.

The IOTA report on the European market will be followed soon after by a report on the Asia-Pacific region. A report on the Americas, including North America, will come out around the InfoComm 2017 show in June.

“Working with IHS Markit presents a great opportunity for InfoComm,” said David Labuskes, CTS, CAE, RCDD, executive director and CEO of InfoComm International. “Their team of analysts will bring unprecedented insight into our industry, which not only benefits our members and other AV companies, but also helps us tell the story of this dynamic industry to enterprise decision makers at organisations that seek experiences and outcomes from audiovisual technology.”

“We’re excited to collaborate with InfoComm on this project,” said Tom Morrod, senior director for consumer, media and telecoms research at IHS Markit. “We will bring the full range of expertise and experience on the pro-AV industry into a new market analysis and help provide strategic insight and information to the industry. We look forward to working widely with InfoComm to make this the best available research on this market.”

www.infocomm.org