News

AV industry forecasts growth in retail digital signage market

February 10, 2005

NEW YORK - The increased use of several audiovisual technologies in key market sectors is driving growth in the AV industry, according to the International Communications Industries Association's 2005 Market Forecast Survey, released at a press briefing in New York.

Among the most positive trends respondents indicated was the increased use of digital signage, particularly in the retail sector, for delivering a message, selling products or simply providing information.

"The market for large information displays is growing at a tremendous rate, as increased competition leads to lower prices, and demand increases from businesses and universities," said Bob O'Donnell, research vice president of clients, mobility and display Technology at market research firm IDC.

AV technology is making significant gains in areas such as retail, sports arenas, museum exhibits, meetings and conventions, healthcare and the worship market. More than 25 percent of the dealers surveyed plan to enter new markets as awareness of AV technology grows.

More than 75 percent of the audiovisual companies surveyed forecast revenue and profitability increases over the next few years.

"This is a high growth industry," said Randal A. Lemke, Ph.D., ICIA executive director. "Audiovisual communications is everything from videoconferencing and streaming media to plasma displays, digital signage and interactive whiteboards. It's everywhere from the classroom to the boardroom to the living room. There's a real demand for AV professionals to help select, integrate, install and service AV products for optimum performance."