Global revenues in the audiovisual integration industry will reach €410 billion by 2029
The experience economy, with technological solutions for live events and venues, is the main driver of the audiovisual integration industry.
The audiovisual integration industry will increase its global revenues, surpassing the 306.4 billion dollars (BUSD) obtained in 2023, to reach 325 billion dollars by the end of 2024. And although this represents a healthy growth rate of 6.1%, it is lower than the 6.9% of the previous year, as forecasted in the Industry Outlook and Trends Analysis 2024 (IOTA) report by AVIXA (Audiovisual and Integrated Experience Association). According to this trend and outlook analysis, over the next five years, the audiovisual integration market will add 98 billion dollars in revenues, with a compound annual growth rate (CAGR) of 5.35%, forecasting global revenues of 422 billion dollars by 2029.
A key insight from the IOTA report indicates that while the process of technological transformation and office upgrades is ongoing, the sector leading the growth in the audiovisual sector is the so-called experience economy.
The AVIXA IOTA 2024 report provides data and analysis on the size of the audiovisual integration industry from a global perspective, as well as regional and vertical breakdowns. The research covers product trends, solution categories, and vertical markets.
“Delving into the data, we see that the growth drivers have varied greatly across the broad landscape of the audiovisual integration sector. Technologies for integrating Conference and Collaboration solutions within companies are not performing as well as solutions demanded by the Entertainment and Live Events sectors,” says Sean Wargo, Vice President of Market Insights at AVIXA. “Therefore, companies focusing solely on audiovisual collaboration systems integration may not fare as well as those catering to entertainment solutions. The IOTA report provides valuable insights and greater visibility into market niches with stronger growth, highlighting opportunities for the audiovisual integration channel.”
Sean Wargo -
Market Drivers
Before the pandemic, the experience economy was one of the most influential trends, and today it has regained its strong position. From 2024 to 2029, global revenues from audiovisual solutions for venues and events will grow to 57.2 billion dollars, with a CAGR of 6.3%, making it the fastest-growing vertical market. Undoubtedly, everything related to in-person entertainment is growing rapidly. This includes Content Capture and Production and streaming broadcasts, also known as broadcast AV.
The future of the corporate office remains a safe bet. As the largest vertical market for the audiovisual integration industry, the fate of offices also represented a source of anxiety during the pandemic. However, as trends evolve toward hybrid work, those concerns have diminished, opening new market possibilities and renewing confidence in this sector. Corporate spaces will generate global revenues of 91.4 billion dollars by 2029, driven by new constructions, more opportunities in conference and collaboration solutions, the rise of content capture and production, as well as Security, Surveillance, and Life Safety solutions. However, growth in this sector is expected to slow to just under 5% over the next five years.
Global Growth
The Asia-Pacific region continues to show solid growth in audiovisual integration, despite a slowdown from 7.3% to 6.9% from 2023 to 2024, largely due to a deceleration in China’s growth rate. Within the region, India leads as the fastest-growing audiovisual integration market, although China remains the highest-revenue market. In the Asia-Pacific region, live events and security, surveillance, and life safety solutions show strong growth rates of 10.8% and 8.3%, respectively.
Led by the North American market (Canada and the U.S.) with a projected revenue of 104 billion dollars in 2024, the audiovisual integration industry in the Americas is perceived as a mature market that leverages innovation to sustain growth, while also offering a stabilizing effect on digital infrastructure, particularly in Latin America. The region as a whole is experiencing increased revenues in audiovisual integration in venues and events, with growth of 8.5% in North America and 10.2% in Latin America.
In the EMEA region (Europe, Middle East, and Africa), the 86.4 billion dollar market is bolstered by the maturity of European markets with consistent strategic investments and promising emerging markets in the Middle East, where Gulf Cooperation Council (GCC) countries are experiencing notable growth. The fastest-growing audiovisual integration sectors in the region are live events, shows and entertainment, and security.
More revealing data
Globally, the challenges in the audiovisual integration market are shifting from supply chain issues to labor constraints, at levels similar to those before the pandemic. Wage increases indicate that the labor market remains tight and that more workers are staying employed at a higher cost to companies.
The impact of Artificial Intelligence (AI) is significant. AI will reshape the audiovisual integration sector with contributions to intelligent automation in security, surveillance, and safety systems; incorporating adaptive interfaces into command and control systems; and enhancing the experiences offered by conference and collaboration solutions.
Note on IOTA report definitions:
Conference and Collaboration: Solutions include a combination of hardware, software, technologies, and services that enable communication between two or more sites. These solutions can be sold as packages or independent components and often include a cloud-based aspect.
Content Capture and Production: Solutions aimed at producing audio and video content intended for distribution through video networks, cinema exhibition, or streaming services via a transactional, subscription-based, or advertising-funded business model. This includes hardware such as cameras, encoders, video processors, scalers, and switchers, managed services and maintenance, and software.
Live Events: Includes hardware, software, and services to provide turnkey audiovisual solutions for live events, shows, or temporary installations.
Entertainment and Shows: These solutions include permanent installations of audio and video equipment in residential and commercial settings, such as cinemas, home theaters, and theater installations in museums, religious venues, leisure venues, etc. Rental and staging equipment for temporary installations is excluded from this category and is included in Live Events.
Security/Surveillance/Life Safety: Includes the following types of professional video surveillance equipment: analog security cameras, DVRs, NVRs, network security cameras, video encoders, video management software (VMS), CS-mount lenses, camera housings, CCTV, controllers and keyboards, and motorized camera positioning mounts.
