Commercial Integrator September 2022 - 8

CI NEWS IN BRIEF RECENT STORIES PEOPLE AND PLACES WHAT'S NEW
AVIXA's IOTA Report Indicates
Commercial AV Revenue to Exceed 2019 Peak
AFTER A STRONG 2021, when
commercial AV revenue growth
exceeded initial expectations
and hit 11%, 2022 is on target
to hit a new high-water mark for
commercial AV, reaching $263
billion globally, according to
Fairfax, Va.-based AVIXA's 2022
Industry Outlook and Trends
Analysis (IOTA).
Growth will moderate in the
coming years to a compound
annual growth rate (CAGR) of
5.9% from 2022 to 2027. While
this is due in part to the slowdown
in economic expansion
across the globe, commercial
AV is still set to grow faster than
most countries' GDPs during
the same period, AVIXA says.
IOTA by AVIXA presents data
and analysis about the size of
the commercial AV industry with
a global perspective - plus
regional and vertical breakouts.
The research covers product
trends, solution categories and
vertical markets.
" As COVID-19 restrictions decline
and people regain comfort
with gathering in person, the
economy is transforming and
[commercial] AV feels a surge in
demand, " Sean Wargo, senior
director of market intelligence,
AVIXA, says. " Up to this point,
the strongest solution areas
were those offering adaptation
to new behavior, such as
conferencing and learning.
This has shifted to events and
performance as we return to
in-person. "
After being upended during
the pandemic, the venues and
events market is demonstrating
its resiliency, ranking high
among market opportunities.
Per the report, the market is
forecast to grow globally from
8
$30.7 billion in 2022 to $47.2
billion in 2027 (9% CAGR).
As consumers shift their
spending back out of the home
and inflationary pressures take
their toll, residential spending
on commercial AV is set to decline.
This enables transportation
to shift upwards, consistent
with a shift in spending on travel
again. IOTA indicates that transportation
market is forecast to
grow globally from $11.8 billion
to $18.3 billion from 2022 to
2027 (6.8% CAGR).
The fastest-growing markets
for commercial AV include
many that are recession
resistant. While pandemic
recovery drives high growth in
venues, media and hospitality,
others are benefiting from
more stable investment. This
includes government, energy
and transportation.
Despite some lingering
challenges associated with the
pandemic, APAC is resuming
the economic expansion that
began in prior periods, driven
by rising corporate activity and
a growing middle class looking
Commercial Integrator SEPTEMBER 2022
to spend. The region remains
a mainstay for digital signage,
as retail growth pushes it to the
top solution spot. According to
AVIXA, digital signage in APAC
is forecast to grow from $14.3
billion to $20.1 billion from
2022 to 2027 (7% CAGR).
While growth in collaboration
solutions slows in the
Americas, experiential solution
areas like venues and events
are rebounding and driving
growth. Revenue for venues in
Americas is forecast to reach
$10.7 billion in 2022 and then
rise to $16.1 billion by 2027
(8.5% CAGR).
Additionally, the Americas is
the one region where services
capture the most revenues
($2.1 billion in 2022). AVIXA
states that control systems are
where the growth is, as content
must be managed and distributed
in a venue.
Meanwhile, EMEA faces the
greatest headwinds due to
the wide-reaching impacts of
the conflict in Ukraine. While
in-person brings a welcome
surge to the venues market,
energy - with 7.8% growth
over the next five years - is
also a key contributor thanks to
sustainability efforts.
Per the report, while the
global commercial AV industry
is experiencing robust growth,
there are still headwinds in
the current environment.
Supply-chain challenges are
reaching a peak, with demand
levels remaining quite high. This
makes it difficult for suppliers to
keep up, particularly after having
been battered by shortages
and logistics issues over the
past two years. Rising interest
rates, as governments seek
to mitigate inflation, are also
spurring fears of a recession as
spending retreats in response.
Hiring too has become increasingly
challenging in a competitive
employment landscape,
resulting in labor shortages.
Despite it all, AVIXA notes,
the IOTA data shows tailwinds
prevailing and commercial
AV continuing to grow, even
if the growth is somewhat
muted as compared to the
past year or so.
commercialintegrator.com
INFOGRAPHIC COURTESY OF AVIXA.
http://www.commercialintegrator.com

Commercial Integrator September 2022

Table of Contents for the Digital Edition of Commercial Integrator September 2022

Commercial Integrator September 2022 - Cover1
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Commercial Integrator September 2022 - 1
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