by The KVM and PRO AV market includes products such as digital signage, video conferencing systems, and sound reinforcement systems that are used across commercial sectors like corporate, healthcare, education and retail. Digital signage systems are computerized displays that show multimedia presentations and streaming media, which are widely being deployed at public spaces, businesses and transportation hubs for conveying messages and advertisements. The digital signage market is growing significantly due to increasing implementation of these systems across industries for internal communications as well as marketing purposes.
The global KVM and PRO AV Market is estimated to be valued at US$ 349297.78 in 2023 and is expected to exhibit a CAGR of 9.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The KVM and PRO AV market is primarily driven by the rising adoption of digital signage systems across various sectors. As digital signage offers an engaging way of branding and provides real-time updates to customers, businesses are increasingly preferring these over traditional signage. Retail stores, healthcare facilities and educational institutions are some major end-users deploying digital signage networks for communicating with visitors, students and patients. Growing infrastructure development projects especially in developing countries is another factor propelling the demand. Furthermore, integration of IoT capabilities in digital signage solutions allowing remote management and analytics is extending their applications, thus supporting market growth. While high initial installation and maintenance costs remain a challenge, ongoing technology advancements are making these systems more affordable.
Segment Analysis
The KVM and PRO AV market can be segmented by product into KVM switches, audio and video conferencing systems and equipment, and signage systems. The KVM switches sub-segment currently dominates the market and is expected to continue its dominance over the forecast period. KVM switches facilitate cost-effective control and management of multiple servers/computers. They offer convenient access to systems installed in security areas like machine rooms and server rooms.
PEST Analysis
Political: Governments across regions are introducing initiatives to encourage adoption of AV technologies in educational institutions, healthcare facilities and corporate offices to enhance productivity. For instance, investment in digital infrastructure is a key part of economic recovery plans post-pandemic in many developed economies.
Economic: Growing global IT spending on infrastructure upgrades and remote work technologies amid digital transformation of industries is fueling demand. The recession-proof nature of AV products is also supporting market growth.
Social: Increasing preference for virtual/blended learning and remote working is positively impacting sales. Demand is also being driven by rising consumer spending capability on home entertainment systems.
Technological: Advances in AV processors, 4K/UHD displays, audio technologies and network capabilities are enhancing the user experience. Integration of IoT and AI into AV devices is creating new use cases.
Key Takeaways
The Global KVM And PRO AV Market Growth is expected to witness high growth over the forecast period supported by rising IT infrastructure spending globally.
Regional analysis
North America is expected to continue dominating the market owing to significant demand from the U.S. rising from sectors like corporate, government, and educational institutions in the region. Asia Pacific is anticipated to be the fastest growing region on account of rising investments into IT infrastructure by governments and increasing spending power of individuals on consumer electronics in countries such as China and India.
Key players operating in the KVM and PRO AV market are Advanced Cell Technology, Inc., Angel Biotechnology Holdings PLC, Biotricity, Lineage Cell Therapeutics, Inc., BrainStorm Cell Limited., CIRM, Celgene Corporation (A subsidiary of Bristol-Myers Squibb Company), Takara Bio Inc., Cellular Engineering Technologies., Cytori Therapeutics Inc., and STEMCELL Technologies. Key players are focusing on new product launches to strengthen their market presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
