AVIXA report puts global AV market at $178 billion in 2016
The global AV market generated $178 billion (approximately €151 billion) in 2016, according to AVIXA’s 2017 AV Industry Outlook and Trends Analysis (IOTA) Global Summary.
The report, compiled by IHS Markit, follows regional market summaries focused on the Europe, Asia-Pacific and Americas (published under the InfoComm name) and adds a perspective on the Middle East and Africa.
Asia Pacific shored up revenues, dragged down by a sluggish market in Europe. Up to 2022 it is expected that global AV revenues will increase 4.7% annually and that the industry will create an additional $52 billion in value during the remainder of the forecast period.
IHS believes that in the short term, the industry will move toward a mix of cloud and on-premise systems.
Other key forecasts include a drop of 13% in the combined video and projection segments, with the market for projector products losing 12% of its value. IHS predicts that the loss of $1 billion in projector sales will be offset by a gain of $3.5 billion in displays sales. The projection and displays segments - taken together - cannot weather contraction in the market for projection screens and accessories. Looking ahead, however, a projected annual growth of 14% in displays sales through 2022 is expected to exceed the estimated dip in projection sales.
The hospitality market (that includes hotels, casinos, cruise liners and resorts) is expected to double from $7 billion in 2014 to $14 billion by 2022. Other bright spots by vertical include the healthcare market, expected to reach double-digit growth globally.