FYI - https://www.prnewswire.com/news-releases/global-pro-av-industry-will-reach-325-billion-in-2024-according-to-new-forecasts-from-avixa-300874486.html

Global Pro-AV Industry Will Reach $325 Billion in 2024, According to New Forecasts from AVIXA

The global professional audiovisual industry will grow to more than $325 billion in 2024, from $247 billion in 2019, according to updated forecasts in the new 2019 AV Industry Outlook and Trends Analysis (IOTA) Global Summary produced by AVIXA™, the Audiovisual and Integrated Experience Association. Overall, the demand for pro-AV products and services is driven by rising GDP across much of the globe because the pro-AV industry provides solutions to nearly all facets of the economy.

Until the latest report, the Americas had consistently represented the largest pro-AV revenue-producing region. The new forecast shows the Asia-Pacific region overtaking the Americas in 2019. The Americas represent $89 billion in revenue for 2019, compared with $90.6 billion for APAC. The gap swells to more than $15 billion by 2024. APAC's growth is spurred in part by the region's demand for security, surveillance, and life safety solutions, which in turn fuels growth in the streaming media, storage, and distribution (SMSD) product segment. SMSD is forecast to expand at a compound annual growth rate (CAGR) of 10.5 percent in the Asia-Pacific region from 2019 through 2024.

AV IS A NECESSITY AND NOT A LUXURY

Professional audio-video installations and products are no longer the icing on the cake but an integrated, integral part of any business’ operation. “We’ve become a necessity. We’re not a luxury anymore. There’s a luxury layer to what we sell but nobody can operate a business today without AV,” said Dave Labuskes, AVIXA CEO.

The two fastest growing segments of professional AV are without doubt unified communications and digital signage. The Pro-AV market will also continue its path on standardization and increased focus on selling managed services. Fred D’Alessandro, founder and CEO of Diversified commented to Commercial Integrator: “We’re really looking to make it easy for customers to purchase those assets and manage them for them”.