New Video Equipment Market to reach a revenue of $79.20 billion by 2028, driven by growing adoption of online learning technologies - Arizton

The professional AV equipment market is projected to grow at a CAGR of 6.27% from 2022 to 2028. The demand for such equipment and solutions among various end users is also increasing in countries such as China, Germany, Japan, and India, owing to the development of commercial real estate, hotel, corporate, and music markets, and changing consumer behavior towards live music concerts and exhibitions in developing countries.

The professional AV equipment market is growing and offers products to various market sectors such as Samsung, Sony, Hitachi, LG, Panasonic, and Philips. However, high cost of branded equipment and low penetration of wireless digital technologies can be significant barriers to growth in APAC markets such as China, India, and Latin America.

Growing demand for professional AV equipment is driven by government support for e-learning technologies. The introduction of modern technology into the classroom helps to stimulate and increase interaction between students and teachers in the classrooms. E-learning is one of the most important areas that the government has allocated for the implementation of education using educational tools and communication media. Learning is supported and enabled by Information and Communication Technology (ICT), which aims to develop tools and technologies to promote e-learning. Governments fund e-learning R&D projects in various R&D laboratories and academic institutions.

The demand for professional AV equipment is increasing significantly in ATRC entertainment establishments, contributing to the success of the business. They help create an immersive atmosphere for customers by providing music and enhancing the overall ambiance. Professional AV equipment also helps create an exciting and engaging environment that encourages customers to stay longer, spend more money and return to the establishment. The changing lifestyles of the population in the ATRC are contributing to the popularity of bars and pubs in the region. Changes in consumer lifestyles are associated with the growth of the information technology and business sector outside the borders of India and other APRC countries, resulting in high levels of disposable income on which the younger generation is willing to spend on leisure and entertainment, including visits to pubs, nightclubs and restobars. The economic impact of the nighttime industry has a significant impact on the professional AV equipment market.