AVIXA : Global Pro AV Revenue to Hit $ 263 Billion in 2022
After a strong 2021 , with pro AV revenue growth exceeding initial expectations and hitting 11 %, 2022 is set up to hit a new high-water mark for pro AV , reaching $ 263 billion globally , according to AVIXA ’ s 2022 Industry Outlook and Trends Analysis ( IOTA ). Growth moderates in the coming years to a compound annual growth rate ( CAGR ) of 5.9 % from 2022 to 2027 . While this is due in part to the slowdown in economic expansion across the globe , pro AV is still set to grow faster than most countries ’ GDPs during the same period .
AVIXA ’ s 2022 Industry Outlook and Trends Analysis ( IOTA ) presents data and analysis about the size of the pro AV industry with a global perspective , plus regional and vertical breakouts . The research covers product trends , solution categories , and vertical markets .
After being upended during the pandemic , the venues and events market is demonstrating its resiliency through a high ranking among market opportunities . The market is forecast to grow from $ 30.7 billion in 2022 to $ 47.2 billion ( 9 % CAGR ) in 2027 globally .
As consumers shift their spending back out of the home and inflationary pressures take their toll , residential spending on pro AV is set to decline . This enables transportation to shift upwards , consistent with a shift in spending towards travel again . The transportation market is forecast to grow from $ 11.8 billion to $ 18.3 billion ( 6.8 % CAGR ) globally from 2022 to 2027 .
Despite some lingering challenges associated with the pandemic , APAC is resuming the economic expansion that began in prior periods , driven by rising corporate activity and a growing middle class looking to spend . The region remains a mainstay for digital signage as retail growth pushes it to the top solution spot . Digital signage in APAC is forecast to grow from $ 14.3 billion to $ 20.1 billion ( 7 % CAGR ) from 2022 to 2027 .
While growth in collaboration solutions slows in the Americas , the experiential solution areas like venues and events are rebounding and driving growth . Revenue for venues in Americas is forecast to reach $ 10.7 billion in 2022 , rising to $ 16.1 billion by 2027 , a CAGR of 8.5 %. In addition , the Americas is the one region where services capture the most revenues ($ 2.1 billion in 2022 ). Control systems are where the growth is , as content must be managed and distributed in a venue .
Astera Launches New Multi-Lingual Website
Wireless LED lighting manufacturer Astera has launched a new multi-lingual website at Astera-led . com . Optimized for all devices , the new site features enhanced product information , technical specs , news , tips and tricks , troubleshooting advice , and more information about the company , its people , products , and ethos .
The project was started during the COVID lockdowns when remote support became a vital service . Each Astera accessory now has its own page with text , specs , videos , pictures , downloads etc ., which helps showcase the accessory and its capabilities and applications .
A new Support section has a smart FAQ area with links to all the key places holding related information . The Interactive FAQ is brand new , and functions almost like an intelligent chatbot . It responds with a predefined answer to typed-in questions . Aware of how some chatbots can be slow , annoying , and frustrating , the company says this tool will be under constant development and able to answer more and more questions over time . Instead of offering just a simple answer , it can cross reference to a particular chapter of a tutorial or offer links to a relevant download .
Also new is a Shopping Cart with “ get a quote ” functionality that will be forwarded to the respective regional dealer / distributor . With online shopping well established , while Astera sells via global dealership network , this feature makes it super easy to connect with the relevant local distributor . Demos can also be arranged via the distributor . A new Buy & Rent page shows distributors , service centres and rental companies on a world map , also making it quick and straightforward to source Astera products locally .
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