Las Vegas, NV (June 15, 2012)—InfoComm International has released a new study providing a look into the AV industry’s future. Conducted by Acclaro Growth Partners, the study projects that audiovisual products and services will become a $115 billion global industry by 2015.
The 2012 Global AV Market Definition and Strategy Study is reportedly the only worldwide study aimed at sizing the commercial audiovisual industry. The study finds that the audiovisual industry currently generates $78 billion a year. Further industry growth, at a 14 percent compound annual rate between 2012 and 2015, is anticipated.
“The AV industry is strong, despite a challenging global business environment, because society relies on AV technology to facilitate essential communications,” said Duffy Wilbert, CTS, CAE, Senior VP, Member Services, of InfoComm International. “In order to meet the future needs of our customers, the audiovisual industry will require a well-trained workforce to respond to ever-growing customer needs.”
AV applications such as conferencing, digital signage, signal management and processing, and streaming media and webcasting are expected to drive future growth. Contracts for service and maintenance of audiovisual systems are also increasing. The fastest growing services are installation/integration and managed services.