FAIRFAX, Va. -- A study has found that the audiovisual industry in both Europe and North America is expected to grow dramatically between 2005 and 2006. The 2006 InfoComm Market Forecast Survey, prepared by AWP Research, found that revenue for surveyed North American companies is expected to grow by 40 percent in 2006 and by 10.7 percent for European AV companies. The single biggest factor for this increase is the increased demand for networked AV products due to the integration of AV and IT technology. This is the fourth consecutive year that significant growth was projected for the AV industry.
"The global AV marketplace has never been stronger," said Randal A. Lemke, Ph.D., Executive Director, InfoComm International®. "The demand for streaming media, webcasting, digital signal processing, wireless applications and AV-related software has increased dramatically worldwide."
The two leading markets for AV equipment in North America and Europe continue to be business/IT and education. Beyond the top two markets, a substantial difference in AV markets is evident when comparing North America and Europe. North America's remaining major markets, in order of sales, include Government and Military; Sports, Entertainment and Hospitality; Healthcare; and Worship. Europe's remaining major markets, in order of sales, include Residential; Retail and Sales; Sports, Entertainment and Hospitality; and Government and Military.
The benefits of AV, as cited by customers, are more universally shared on both sides of the Atlantic. These include the ability to provide business tools needed for day-to-day activities, enhanced communication between internal and external audiences, increased efficiency, creation of a more effective learning environment, and saved time and money through increased efficiency.
The technology trends with the greatest impact on the AV industry include integration of AV systems into the customers' IT networks; increased use of conferencing and collaboration; the growth in the use of digital signage, content aggregation and content management; and the acceptance of high-definition technology.
The 2006 Market Forecast Survey includes trends and findings in the North American and European Audiovisual Industry. To order a copy, please visit the InfoComm store.