Press release
Professional Audio-Visual (Pro AV) Market Size Forecasted To Achieve $6.39 Billion By 2029 With Steady Growth
Professional Audio-Visual (Pro AV)
What Is the Professional Audio-Visual (Pro AV) Market Size and Projected Growth Rate?
The professional audio-visual (pro AV) market has grown rapidly in recent years. It will increase from $3.91 billion in 2024 to $4.33 billion in 2025, with a CAGR of 10.6%. The growth in the past period can be attributed to the expansion of the TH*Care and education sectors, the integration of IoT and AI technologies, growing demand for unified communication and collaboration (UCC) solutions, and a rising need for immersive experiences.
The professional audio-visual (pro AV) market is forecasted to grow rapidly, reaching $6.39 billion in 2029 at a CAGR of 10.3%. Growth is attributed to the development of advanced audio equipment, rising demand for high-quality AV experiences, and growing adoption in the entertainment and events sectors. Key trends include rapid advances in display technologies, high-resolution displays, technological innovation, investments in pro AV technology, and AI integration.
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What Are the Major Segments in the Professional Audio-Visual (Pro AV) Market?
The professional audio-visual (pro AV) market covered in this report is 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
Subsegments:
1) By Products: Audio Equipment, Video Equipment, Signal Processing Equipment, Control Systems, Lighting Equipment, Mounting And Racking Solutions, Audio-Visual Cables And Connectors
2) By Services: Installation Services, Maintenance And Repair Services, Managed Services, Consulting Services, Event And Production Services, Training And Support Services
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What Are The Driving Professional Audio-Visual (Pro AV) Market Evolution?
The increasing adoption of professional audiovisual (Pro-AV) technology within the events and entertainment sectors is expected to drive growth in the Pro-AV market. These industries involve creating and managing experiences for audiences, and the demand for high-quality AV solutions is rising to enhance communication and engagement. Pro-AV services help produce dynamic, immersive experiences, improving the quality of sound, visuals, and overall production. For example, Live Nation Entertainment reported a 39% increase in concert revenue, reaching $18,734 million in 2023, up from $13,494 million in 2022, illustrating the growing demand for such services in events and entertainment.
Which Firms Dominate The Professional Audio-Visual (Pro AV) Market Segments?
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.
What Are the Latest Developing Trends in the Professional Audio-Visual (Pro AV) Market?
Companies in the professional audiovisual (Pro-AV) market are advancing display technologies, such as next-gen studio monitors, to improve sound precision and deliver superior audio quality for professional settings. For example, in November 2023, Yamaha Corporation, a Japan-based manufacturer of musical devices and audio instruments, launched the latest version of its HS Series studio monitors, the HS3 and HS4 models. These compact and portable monitors feature a class-D amplifier, room control, and high-trim functions for customized sound. The rear panels include versatile connectivity options, such as XLR, TRS, RCA, and stereo mini-jacks. Additionally, these models integrate Yamaha's proprietary twisted flare port technology, which reduces air turbulence noise for more accurate bass.
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Which Is The Largest Region In The Professional Audio-Visual (Pro AV) Market?
North America was the largest region in the professional audio-visual (Pro AV) market in 2023. The regions covered in the professional audio-visual (Pro AV) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Professional Audio-Visual (Pro AV) Market?
2. What is the CAGR expected in the Professional Audio-Visual (Pro AV) Market?
3. What Are the Key Innovations Transforming the Professional Audio-Visual (Pro AV) Industry?
4. Which Region Is Leading the Professional Audio-Visual (Pro AV) Market?
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