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NEW YORK , Aug. 18, 2022 /PRNewswire/ — The “Pro AV Market by Type and Geography – Forecast and Analysis 2021-2025” report by Technavio predicts the market to observe an incremental growth of USD 90.51 billion between 2020 and 2025. In 2021, the market witnessed a YOY growth of 6.57% and the growth momentum is expected to accelerate at a CAGR of 7.31% during the forecast period. The report will aid business leaders with an up-to-date analysis which includes the study of the current market scenario, the latest trends and drivers that are likely to influence the market growth, and the overall market environment. Understand the scope of this full report by Downloading a Sample PDF Here
Technavio categorizes the global pro AV market as a part of the global consumer electronics market within the global household durables market. The parent market, the global consumer electronics market, covers products and companies engaged in manufacturing and marketing consumer robotics, home audio and video products , televisions, digital cameras, and related products.
The global pro AV market is fragmented due to the presence of many established vendors. These vendors are focused on launching new products and incorporating M&A strategies to remain competitive in the market. For instance, in February 2021Solutionz Inc announced the acquisition of Total Video Products. Technavio identifies AVI Systems, AVI-SPL LLC, CCS Presentation Systems, Diversified, Ford Audio-Video LLC, Godrej and Boyce Manufacturing Co. Ltd., New Era Technology, Solutionz Inc, Telerent Leasing Corp., and Vistacom Inc. as major market participants.
Although the increased use of digital signage, rise in popularity of e-learning, and advances in technology will offer immense growth opportunities, increased emphasis on one-on-one learning, high cost and challenge of quantifying ROI, and low replacement cycle will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The pro AV Market is segmented as below:
- Type
- Products
- Services
The products segment generated significant revenue in the market in 2021. The market growth in the segment is driven by the proliferation of retail stores and the increasing number of multinational corporations worldwide.
- Geography
- APAC
- North America
- Europe
- South America
- MEA
41% of the…
Full story available on Benzinga.com
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