AI, Personal Touch – AI technology can significantly advance AV and Pro AV solutions as long as they constantly have the human touch.
At the end of last year, the more cautious industry analysts were recommending that Pro AV folks (hardware/software/integration/service) diversify into “more economically insensitive market segments” to ride out the economic downturn they saw coming.
That sounds like a logical recommendation – go where life is constantly good and easy.
The big problem is it’s tough to find a market that is economically insensitive; and if you find it, you can bet someone else found it as well. Especially since the global pandemic changed the global landscape for everyone!
But there is a glimmer of positivity for the Pro AV industry in the Asia-Pacific area.
The AsiaPcific area was the first to be impacted by Covid-19 and learned how to limit, minimize and hopefully eliminate Covid-19.
The Asia-Pacific area has also been the first to reopen its new economy
APAC is projected to have the strongest growth of all regions, with a 7.4 percent CAGR from 2020 through 2025, compared to 4.7 percent for the Americas and 4.5 percent for EMEA.
In 2025, APAC Pro AV revenue will amount to $126 billion, compared to $108 billion for the Americas and $81 billion for EMEA.
Regarding the bridging effect of Pro AV’s video conferencing, Allan McLennan, Chief Executive of PADEM Media Group, noted, “The pandemic forced countries, companies and individuals to rethink/reinvent the way we interact and work together. Thanks to the rudimentary use of AI to support and enhance AV products, it kept things moving relatively smoothly and it has now become an integral part of day-to-day business and personal activity.”
The best example of what will drive the shift is enhanced communications/connectivity – video conferencing.