The effects of the pandemic have led to a fall in global pro AV revenues in the collaboration and conferencing marketplace: down from $38.9 billion in 2019 to $38.0 billion this year. This was revealed by Sean Wargo, Senior Director of Market Intelligence at AVIXA, during a short overview of the association’s research data for this market.
“Companies have had to adjust and invest more in remote technology versus in-person technologies for large collaboration spaces. How that changes for the future is yet to be seen,” observed Sean. However, year-on-year growth is forecast to return in 2021, with the market reaching a peak of $44.2 billion in 2025. “I would say there’s substantial upside to that potential, depending on how things go and how innovation plays out,” he observed.
Watch the full session here
Collaboration is, and will remain, the largest solution area for pro AV. “It’s really the lifeblood of the industry, as so much of our work is in corporate office space,” Sean noted. Cloud-based services and software are accounting for a larger share of expenditure, while the amounts spent video and audio conferencing slowly decline.
Sean also presented investment figures for the Americas, APAC and EMEA – with the last of these regions’ markets seeing the greatest decline in 2020 (4.3%). He concluded on an optimistic note: “Across the board, we expect growth to return in 2021 as we hit, and exceed potentially, all previous highs for collaboration technology.”