AVIXA predicts that the professional AV market will grow to more than $US120 billion in 2024 from the current $89 billion. The figures were released in its ‘2019 AV Industry Outlook and Trends Analysis (IOAT) Americas Summary’

While growing, the summary also predicted that the Asia-Pacific (APAC) region will surpass the Americas, reaching $127.6 billion in 2024.

“Despite APAC’s rise to the top spot as the largest region for pro-AV revenues, the Americas remain a vibrant market,” AVIXA senior director of market intelligence Sean Wargo says.

“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.

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

According to the IOAT, the pro-AV video projection market in North America is set for a steep decline in the coming years, consistent with worldwide trends.

Revenue is dropping to $1.9 billion in 2024 from $3 billion in 2019 and South America will follow suit, with revenue falling to $1.2 billion in 2024 from $2.1 billion in 2019.

Pro-AV users in this region are turning away from projectors and toward larger-sized, flat-panel displays due to its falling costs and less-complex usage requirements.