AV generally referred to as Audiovisual, implies possessing both a visual component and sound, such as slide-tape demonstrations, movies, television programs, church services, and live arena productions.
The audiovisual systems are the backbone of communication and information technology, video, multimedia, modern entertainment devices, different industrial and healthcare equipment.
report published in WiseGuy Research suggests that the global Audio-Visual Display Market valued nearly US$9.6 billion in the year 2016 and is expected to prosper with a CAGR of about 11.94% over the forecast period 2018-2025.
The report depicts some primary market driving factors which include-
- Rising demand across end-user industries.
- Growing numbers of application fields which helps in fueling the demand for audio-visual display in the Global Audio-visual Display Market.
- The wide diversity of applications which needs the audio-visual system as a necessary device, such as health monitoring equipment, industrial monitoring, and so on.
The crucial restraining element of the audio-visual display market is poor replacement cycle.
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Regional outlook
The primary regions that are responsible for the growth of the global AV market include Asia Pacific, North America, Europe, and Latin America. Asia-Pacific is believed to be the dominant region across the world in terms of market share. The region holds 39% of the overall share of the global audiovisual market. Most of the revenue comes from the high adoption of audiovisual presentation services, which is attributed to the rising adoption of technology and the use of advanced communication methods.
North America was the second-largest AV market accounting for over 14% market share. The Middle East accounted for around 2% of the overall market share. North America and Europe are also foreseen to show higher growth rate over the forecast period 2018-2025.
Market segmentation
As per the research performed by WiseGuy Research, the global Audio Visual market can be analyzed on the basis of product types, applications, and regions.
Based on the main product types, the global audiovisual market can be segmented into-
- LED type
- LCD type
- Others
Based on the crucial applications, the global audiovisual market can be segmented into-
- Entertainment
- Commercial
- Residential
Based on the regions, the global audiovisual market can be segmented into-
- North America
- Asia Pacific
- Europe
- Latin America
- Rest of the world
Important facts
The global Audio Visual market is driven by the surging demand for advanced AV experience. Continuous efforts from market players across the globe to launch innovative AV products is also likely to stimulate market growth in the upcoming years.
In addition to this, growing demand for numerous sources of entertainment is projected to contribute to the growth of AV display market. Other factors that are anticipated to propel market development include the latest trends and research and development activities by developing companies. Earcons, Alexa skills, audio renaissance, and acoustic-based NFC are some of the latest trends in the global audiovisual market. Alexa is foreseen to be the most disruptive technology, which is catalyzed with the smart technology of audible push notifications. Earcon is another crucial trend in the industry.
Continuous…
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