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EMEA AV market declines in 2020 before bouncing back in 2021

EMEA AV market declines in 2020 before bouncing back in 2021

EMEA AV market declines in 2020 before bouncing back in 2021

EMEA:

The latest pro AV industry forecast from AVIXA has highlighted that the Europe Middle East and Africa market will decline to US$65 billion in 2020, a 9% fall from the 2019 figure of US$71 billion. The 2020 AV Industry Outlook and Trends Analysis (IOTA) EMEA Summary does however expect this to return to its 2019 level by 2022 and will continue to expand to $81 billion in 2025.

“The pro AV industry and economies at large are reeling from the effects of COVID-19,” said Sean Wargo, senior director of market intelligence, AVIXA. “The pandemic has broadly impacted the near-term and longer-term outlooks for economic growth and business activity in the EMEA region, spurring reductions in our forecast. But recovery is in sight. Growth for pro AV in EMEA will far exceed the expansion of the regional economy, with the industry growing in the range of 4.8%–5.1% in the coming years.”

While most of this revenue comes from Western Europe, growth is expected to hold steady through to 2025. The Sub-Saharan Africa market is expected to generate the strongest growth in the region, with a 6% CAGR from 2020-2025 and growing from US$1.7 billion to US$2.2 billion during that time. The Central European pro AV market is set to expand to US$12.5 billion in 2025, rising at a CAGR of 5.8% from US$9.4 billion in 2020.

The strongest performing sector, rather expectedly, appears to be media and entertainment, with revenue declining by only 5.6% in 2020 and rising by 8.5% in 2021. This was mainly driven by the consumption of digital content from mobile apps to TV and gaming which increased during the pandemic.

Another sector showing potential for growth for the mid- to long-term is military and defence, as governments battle increased cyberthreats and nationalistic outlooks. The report states that government and military, education and corporate customers will generate the most demand for security, surveillance and life safety solutions during the short and long term as they seek to update their infrastructure to handle the needs of monitoring and responding to the pandemic.

Digital signage growth will also be driven by the increased need for on-premise and out-of-home (OOH) communications, especially for security and new health protocols. The functionalities of digital signage merge with those of surveillance and security and are applicable to both employee-facing and customer-facing situations. For example, surveillance cameras already in place will be augmented by AI, software and displays and used for business analytics for assessing customer journey, tracking and heat-mapping.

Due to the prevalence of work from home, revenue from conferencing and collaboration solutions is due to increase at a CAGR of 2.6% from 2020 to 2025. Furthermore, spending will continue to increase in this area as legacy infrastructure gives way to the cloud.

To read the full 2020 AV IOTA EMEA summary, visit www.avixa.org/IOTA.



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