AVIXA Research: Pro AV Market in Americas to Reach $112B in 2024, Trail Asia-Pacific

2019 IOTA Americas Summary AVIXA research says conferencing, collaboration & digital signage will carry Americas region to a silver medal through 2024.

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AVIXA Research: Pro AV Market in Americas to Reach $112B in 2024, Trail Asia-Pacific

We’ve already given you the 30,000-foot view of the future of the global pro AV market through the prism of the 2019 AV Industry Outlook and Trends Analysis global summary, an AVIXA research initiative, with Asia-Pacific taking over as the world leader for the first time in 2019 and the gap with the Americas growing through 2024.

This week, AVIXA drilled down further into the numbers, revealing the AV solutions and services market will grow from $89 billion in 2019 to $112 billion in 2024, trailing Asia-Pacific by about $1.6 billion this year and about $15.6 billion in five years in the IOTA Americas summary report.

“Despite APAC’s rise to the top spot as the largest region for pro AV revenues, the Americas remains a vibrant market,” said Sean Wargo, senior director of market intelligence of AVIXA, in the association announcement.

“Conferencing, collaboration, and digital signage solutions dominate, thanks to continued investment by a variety of customer types. Even corporations, which may be shifting to a more cautious capital expense approach, continue to invest in technology to facilitate remote employees and promote their brands,” he said.

Overall, said Wargo, “growth in pro AV may temporarily slow in the Americas, but that growth will be steady through 2024.”

Inside the IOTA Americas Report

According to IOTA Americas AVIXA research, the largest solution segment in North America is streaming media, storage and distribution (SMSD) with $20.6 billion in revenue in 2019. The U.S. SMSD segment amounts to $18.7 billion in 2019, while the Canadian market is nearly $2 billion.

Although the North American SMSD market is more than 13 times larger than the South American market, South America is set for faster growth. SMSD’s strong numbers reflect large investment in back-end systems to support content distribution and control.

Consistent with worldwide trends, the pro AV video projection market in North America is set for a steep decline in the coming years, with revenue dropping to $1.9 billion in 2024 from $3 billion in 2019. South America will follow suit, with revenue falling to $1.2 billion in 2024 from $2.1 billion in 2019.

“Pro AV users in the region are turning away from projectors and toward larger-sized flat-panel displays due to displays’ falling costs and less complex usage requirements,” according to the AVIXA announcement.

The IOTA series of reports are produced by AVIXA in conjunction with IHS Markit. The AVIXA research methodology includes manufacturer inputs, both in the form of qualitative and quantitative guidance on the size and growth within various product categories.

The 2019 AV Industry Outlook and Trends Analysis (IOTA) is published as a series of reports, including one global and three regionals. The Americas, APAC and global reports are available now to purchase, with discounts for AVIXA members. The IOTA Europe will be available soon.