AVIXA Forecasts Global Pro-AV Industry Will Reach $325 Billion in 2024

The global professional audiovisual industry will grow to more than $325 billion in 2024, from $247 billion in 2019, according to updated forecasts in the new 2019 AV Industry Outlook and Trends Analysis (IOTA) Global Summary produced by AVIXA, the Audiovisual and Integrated Experience Association. Overall, the demand for pro-AV products and services is driven by rising GDP across much of the globe because the pro-AV industry provides solutions to nearly all facets of the economy.

A recent IHS Markit survey finds that premium audio from recognized brands remains an important consideration when acquiring a new vehicle. Branded audio system volumes in new vehicles are expected to grow from just under 12.4 million units globally in 2018 to 14.7 million units in 2023, according to new vehicle production forecasts for these systems from the business information provider research.

The professional audiovisual industry will grow from $186 billion in 2018 to $230 billion by 2023, according to updated forecasts in the new 2018 AV Industry Outlook and Trends Analysis (IOTA) Global Summary produced by AVIXA, the Audiovisual and Integrated Experience Association. This report examines the forces driving growth, from macroeconomic factors to technology trends to vertical market demands, on a global scale.