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

‘There are many shifting pieces within the A/V industry; it’s important to pause and take the market’s temperature,’ said Sean Wargo, senior director of market intelligence at AVIXA. ‘Based on our research, we’re expecting compound annual growth to be 4.3% from 2018 to 2023, which is in line with our previous estimates. Regions around the world are growing, with Asia poised to take the lead as the largest market, capturing 36% of the pro-A/V market by 2023.’

The IOTA report was produced for AVIXA by IHS Markit, an insights and intelligence firm. The research methodology was based on combining supply-side market sizing with demand-side market requirements, which were then aligned with macroeconomic factors and inputs.

The 2018 AV Industry Outlook and Trends Analysis (IOTA) is published as a series of reports, including one global and three regional reports, plus a series of reports highlighting specific segments of the A/V industry. The Global, Americas, Asia-Pacific and Europe reports are available now to purchase, with discounts for AVIXA members. For more information, click here.