The Audio-visual Industry Has Accelerated The Intelligent Transformation Of The Industry
Sep 17, 2021
Enterprises should be ready at any time to fight the "combined fist" of short-term change and long-term change. At the same time, the strengthening of industry norms, the breaking of borders, the influx of cross-border people and the peaking of scale dividends... Opportunities and challenges in all aspects are also coming one after another.
However, it should also be noted that with the penetration and popularization of 5g, aiot, AI and other cutting-edge technologies, new functions and new playing methods such as voice interaction, thousands of people and thousands of faces, multi screen interaction and smart home continue to emerge, and the application of "wisdom +" gives new momentum to the development of the audio-visual industry.
According to the audio visual industry outlook and trend analysis (iota) in 2021 recently released by avixa, the revenue of the professional audio visual industry decreased to US $214 billion last year (US $259 billion in 2019). Nevertheless, the report predicts that the market will rebound to $232 billion this year and grow to $329 billion in 2026, with a compound annual growth of 7.2%.
Due to the demand of employees' telecommuting, students' participation in distance learning and virtualization of exhibition activities, the field of conference and cooperation has brought the highest revenue growth. Solutions in these segments are expected to generate $43.5 billion in sales this year and $49.9 billion in 2026.
In addition, the report also predicts that digital signage will achieve strong revenue growth and increase to $44.7 billion in 2026. With the decline in the price of displays, the popularization of their applications and the rapidly growing demand, the signage market has performed strongly, which analysts estimate will drive the solution field. Media server is also the leading product category of digital signage, with revenue expected to reach $6.9 billion this year. Overall, content management hardware is also expected to generate significant revenue growth over the next five years, with a CAGR of 10.4%.
In contrast, live events and performance / entertainment solutions were the most affected last year, with total annual revenue falling by 49.7%. As the epidemic continues to bring movement restrictions, it is expected that large-scale activities will become the slowest area of recovery. However, analysts predict that these two solution areas will rebound sharply when the market enters a more normal period, creating a new record in the next few years. By 2026, live event solutions will generate $33.9 billion in revenue and performance / entertainment will reach $30.6 billion.
Industry experts said that audio-visual equipment, as an emerging industry supported by the development of big data center, cloud computing, Internet of things and other times, intelligent overall solutions accelerate the development efficiency of information technology and traditional manufacturing industry, and play an increasingly important role in remote dialogue such as education, medical treatment and enterprise office.
