Pro Audio-Visual (AV) market revenue is projected to soar to an astounding $422 billion by the year 2029, as per AVIXA research.

The Pro AV industry is experiencing a significant transformation, with the fastest-growing sectors in EMEA being live events, performance and entertainment, and security [1]. This trend is also evident in the Americas, where revenue in venues and events is surging, with 8.5% growth in North America and 10.2% in Latin America.

However, the spotlight is on India, which is identified as the fastest-growing pro AV market globally. According to AVIXA's 2024 Industry Outlook and Trends Analysis (IOTA), India is projected to reach $11.8 billion in annual pro AV revenue by 2029, driven by strong demand in corporate, education, and government sectors [1].

The Pro AV market is expected to add $98 billion over the next five years, with a 5.35% compound annual growth rate (CAGR) [1]. This growth is reshaping the industry, with AI bringing smart automation to security, surveillance, and life safety; introducing adaptive interfaces to command and control systems; and improving the experiences delivered by conferencing and collaboration solutions.

Sean Wargo, VP of market insight at AVIXA, stated that growth has varied extensively across the Pro AV landscape. Technologies supporting conferencing and collaboration within enterprises are not performing as well as those positioned for entertainment and events [1].

The IOTA report provides data and analysis about the size of the Pro AV industry with a global perspective, regional and vertical breakouts, product trends, solution categories, and vertical markets. It helps provide greater visibility to where growth is strongest, highlighting opportunities for the AV channel [1].

In the Asia Pacific region, live events and security/surveillance/safety show strong growth rates of 10.8% and 8.3%, respectively [1]. India becomes the fastest-growing AV market in the Asia Pacific region, while China remains the largest. The region's Pro AV market growth decreases slightly from 7.3% to 6.9% from 2023 to 2024, primarily due to China's decelerating growth rate [1].

The experience economy is dominating growth in Pro AV, with global revenue for venues and events projected to grow to $57.2 billion from 2024 to 2029, at a 6.3% CAGR [1]. On the other hand, growth in the corporate office sector is expected to decrease to just under 5% over the next five years [1].

The global Pro AV market challenges are shifting from supply issues to labor constraints, similar to pre-pandemic conditions [1]. The GCC countries in the Middle East are experiencing notable growth in the Pro AV market, and the EMEA Pro AV market is bolstered by mature European markets and promising developing markets in the Middle East [1].

Salary increases indicate continued labor market tightness and higher retention rates of workers [1]. The corporate office remains a significant vertical market, with revenue from corporate spaces projected to reach $91.4 billion by 2029, fueled by new construction, conferencing and collaboration opportunities, expanding content capture and production, and security, surveillance, and safety [1].

Content production and streaming, also known as broadcast AV, is growing fast within the experience economy [1]. The North America's projected Pro AV market size in 2024 is $104 billion, making it a mature market [1]. The IOTA report predicts a 6.1% growth in Pro AV revenue from $306.4 billion in 2023 to $325 billion in 2024 [1].

In summary, India is the fastest-growing Pro AV market worldwide in 2024–2029, with annual revenue projected to reach approximately $11.8 billion by 2029. Growth is fueled by sectors like corporate, education, and government. The Pro AV market is expected to add $98 billion over the next five years, with a 5.35% CAGR. However, the industry's growth rate varies, with technologies supporting conferencing and collaboration within enterprises not performing as well as those positioned for entertainment and events.

[1] AVIXA's 2024 Industry Outlook and Trends Analysis (IOTA) report.

The Pro AV market is experiencing significant growth, particularly in sectors like live events, performance and entertainment, and security, fueled by strong demand in corporate, education, and government sectors, as indicated by AVIXA's 2024 Industry Outlook and Trends Analysis (IOTA) report.
Technology is reshaping the Pro AV industry, with AI introducing smart automation to security, surveillance, and life safety, adaptive interfaces to command and control systems, and improving conferencing and collaboration solutions, as reported by the IOTA.
In the Asia Pacific region, the live events and security/surveillance/safety sectors show strong growth rates, and India becomes the fastest-growing Pro AV market in the region, as per the IOTA report.

Pro Audio-Visual (AV) market revenue is projected to soar to an astounding $422 billion by the year 2029, as per AVIXA research.