The audiovisual (AV) industry has made a remarkable recovery from the setbacks experienced during the pandemic. Investment in AV has not only bounced back but has surpassed 2019 levels, signalling a robust resurgence and an optimistic future.

Growing Verticals: Live Events, Media, and Entertainment

Several verticals within the AV industry are experiencing significant growth, with live events, media, and entertainment leading the charge. Despite this rapid expansion, collaboration remains the primary driver, supported by other sectors such as worship, military, education, and retail.

The Convergence of AV and Broadcast

One of the most notable trends is the merging of AV and broadcast. This convergence is fuelled by several factors:

1. XR Software Improvements: Advances in extended reality (XR), encompassing virtual reality (VR), mixed reality (MR), and augmented reality (AR), are revolutionising how companies utilise their equipment. This technology blend is increasingly evident in live sports broadcasts, where real–world images are seamlessly integrated with computer–generated content.
2. Cost Reduction: Significant drops in the prices of AV equipment and components have made advanced technology more accessible.
3. Competitive Edge: In a saturated content market, companies are pushing the boundaries to stand out, driving innovation and quality.
4. Cloud Technology: Cloud solutions simplify production processes, reducing the need for extensive hardwired equipment and lowering entry barriers.

Carbon Emission Considerations

As companies upgrade their AV equipment, they weigh the balance between the emissions from AV operations and the carbon footprint of in–person events. This consideration is crucial in an era increasingly focused on sustainability.

Rise of Day Studios

A new trend in the AV industry is the emergence of “day studios”, where creators can rent studio space for a day to produce their content. This model provides flexibility and access to high–quality production facilities without long–term commitments.

Future Growth and Challenges

During the recent UpStream event, Sean Wargo, the VP of Market Intelligence at AVIXA, highlighted that “the AV market is projected to reach $422 billion by 2029, with a compound annual growth rate (CAGR) of 6.1%. Despite the high availability of equipment and the resolution of supply chain issues, there is a notable shortage of skilled AV professionals. Addressing this gap through training and education is crucial.”

China remains the largest market for AV, with India emerging as the fastest–growing market, reflecting the significant roles of these BRICS nations in the industry.

Post–Pandemic Normalisation and Innovation

The AV market is stabilising after the pandemic–induced disruption, setting the stage for long–term trends. Interestingly, reduced budgets have catalysed innovative content production methods, supported by technological advancements and cost reductions.

Empowering the Next Generation

Young aspiring AV specialists, some as young as 10, are now learning essential skills through platforms like YouTube. This early exposure is nurturing the next generation of content creators and AV professionals.

Broadcast–Quality Collaboration

Collaboration platforms, such as Microsoft Teams, are evolving to deliver broadcast–quality calls and meetings, further blurring the lines between traditional AV and broadcasting.

In summary, the AV industry is not only recovering but also transforming, driven by technological advancements, innovative production methods, and a focus on sustainability. As the market continues to evolve, it promises exciting opportunities and growth in the years to come.

Make sure to stay in the loop with the latest AV trends and developments by following our LinkedIn CONTEXT Europe page and filling in your details below to attend our weekly webinar.