May of 2020 has been rough for the AV industry. However, the present and future have optimistic turnover. However, before we get into the details of how COVID-19 transformed the AV industry, it’s best to explain what AV is.
What Is AV Industry?
AV stands for AudioVisual. It's a multibillion-dollar industry poised for growth—comprising system integrators, consultants, presentation professionals, and technology managers. Commercial Audiovisual is a lengthy process to configure correctly. Boardroom audiovisual is crucial for stakeholder meetings and confidential discussions.
Impacts of COVID-19 on the AV Industry
What new trends have surfaced in the AV industry during COVID-19, and what will be the future? These were the main points during Sony AV Expo in late July 2021. Since the pandemic has pushed many employees to work from home, audiovisual technology has become a necessity.
According to Josh Starkey, director of engineering and programming, SKC Communications, Audiovisual technology has put the pandemic in hyperdrive. Businesses need to continue their work, and it’s essential to communicate daily. Audiovisual technology-facilitated global organizations, but now local industries have been pushed to seek digital signage solutions to meet their business requirements. Below are a few impacts of covid19 on the AV industry.
The New Meeting Place
COVID-19 has changed business dynamics, and 26% of US employees are working online. Organizations are looking for better ways to utilize their office space. This has led many businesses to trust audiovisual services as their daily driver for conducting meetings. The audiovisual industry hasn’t been disappointing yet. Looking at its rapid acceptance, this industry is poised for growth and higher revenue.
AI Possibilities Along the Lines?
The day 2 panel of the Sony AV Expo shed light on the possibilities of AI integration with AV technology. Who doesn’t want Artificial Intelligence to do the hard work while they get paid?
These were the primary thoughts of the Sony AV expo. The CEO of Sightcorp, Joyce Caradonna, said that advertisers are realizing how AI can boost sales and drive more traffic to online businesses.
However, the most crucial question was put to the table by Tim Albright, CMO at Conference Technologies. He asked how AV-driven Ad content can be integrated with AI technology. After all, the future was headed towards artificial intelligence while COVID-19 pushed AV technology on top. The seamless integration of robust technologies could mean better business and growth for companies facing challenges managing communication with their remote employees.
The AV industry has been expanding rapidly in the past few months. The AV market is expected to reach a modest 4.1% CAGR growth. The current market size of the AV industry is 2463.2 million, expected to hit 3273.5 million by 2026.
BCS Consultants is one of the leading providers of AV solutions and more. Visit their website to learn more about how you can grow your business from home.