In a recent Pro AV Industry Professional Survey conducted by MarketScale, we polled AV professionals to gauge their perception of current and future market trends.
Industries with Increasing Recent Interest in A/V
The first question in the survey explored which sector increased its interest most in A/V in the last six months. While the Bar & Restaurant and Retail sectors showed some promise at 5% and 10% respectively, AV interest in the Education sector rose to the middle of the pack at 15%. Intriguingly, the most interest was generated in the Entertainment and Other sectors, rounding out the survey at 35% each.
Biggest Industry-Wide Gains in the Last Six Months
The question of which industry category made the biggest industry-wide gains in the last six months generated some remarkable statistics. While not one professional selected Audio Devices or the Other category as making any gain at all within the last six months, the Advanced Displays and Virtual Reality sectors achieved some progress at 10% and 15%. The need for Digital/Interactive Displays impacted the industry greatly, however, leading the pack at 75%.
Where A/V Growth Will Occur in the Next Year
More surprising statistics arose with the question regarding what industry A/V can grow into the most in the next year. While predicted growth within Transportation and Education only accounted for 10% of the vote each, Hospitality was slightly more favored at 15%, and the Other category at 20%. The biggest A/V usage growth expectations were for the Sports and Entertainment sector, receiving 45% of the vote.
Percentage of Sales Involving LED
Although the question of what percentage of total sales involved LED was non-applicable to two out of the 20 professionals polled, three responded that LEDs accounted for 50-75% of their sales, four responded that LEDs made up 75-100% of their sales, and five responded that 25-50% of their sales involved LEDs. Six people (the majority) disclosed that LED sales amounted to only 25% of their sales.
Trade Show Attendance Rates in the Last Year
Industry-specific trade shows can generate inspiration, provide innovative solutions, and keep professionals trend-current. Of those polled, none answered that they hadn’t attended a trade show within the last year, and only 5% responded that they had only attended one conference. 10% said they were present at four shows, 25% attended at least two events, and six respondents each attended at least three conferences or five or more shows in the past year.
We discussed these findings with Lance Gordon, Co-Owner and Co-Founder of SoundCheck Technologies, a sound and audio-visual company that caters to the Sports and Entertainment industries. Lance said, “These statistics all look on-point. For our specific industry niche, it’s important to remember that arenas and stadiums invest multi-millions in AV. Most have their own broadcast facilities for image magnification, while some even broadcast the local sports for regional markets. LED screens are very big in each of these environments.”
We want to thank all our fantastic participants who took the time to share their valuable input for this survey. Each of your perspectives provided us with insight in current and future A/V market trends.