The global pro-AV cable market will generate revenue of $2 billion by 2024

According to Reportbuyer.
com's latest research report, the global pro-AV cable market is expected to reach approximately $2 billion in revenue by 2024, growing at a CAGR of more than 4%
between 2018 and 2024.

Developing high-quality products that are easy to use, connected, designed, sensor, and signaled will enable suppliers to gain greater global market share
.
The increasing number of concerts, live performances, music festivals, exhibitions, and trade fairs will also lead to the demand for professional AV cables in the
coming years.
At the same time, the market is driven by booming commercial real estate, such as the hospitality, corporate, and music industries
.
In addition, future inventions in wireless digital technologies and the development of complementary digital technologies will create lucrative opportunities
for vendors operating in the global market.

It is worth noting that the convergence of this market with the Internet of Things will revolutionize the global professional AV cable market
.
As global internet penetration increases, so does the digitization of devices, and industries are paying attention to this issue
.
Some vendors are exploring ways
to use IoT to streamline manufacturing processes and SPM (Supply Chain Management) as well as provide a more personalized customer experience in the global marketplace.

For example, smart devices can collect, analyze, and share real-time data with vendors to gain insight into end-user preferences
.
The exponential growth of the live performance and music industries has driven sales
in the global pro AV cable market.
Professional AV solutions such as lighting systems and associated sound reinforcement systems are at the heart and soul
of the global live music industry.

Based on product type, the market is segmented into audio and video cables, power lines, DMX cables, Ethernet cables, instrument wires, multicore cables, and other wires
.
Audio and video lines accounted for the largest market share in 2018, growing
at a CAGR of over 4% during the forecast period.
The growing demand for bulk lines that can be customized according to end-user requirements is driving the growth
of this segment in the global market.
Prefabricated cables such as USB, HDMI, BNC video cables and studio loom cables and many other industries
.
Multi-core cables include multiple all-in-one cables for data, power, coaxial and AV cores
in the global market.

By application segment, the market is dominated by audiovisual capture conferencing and transmission, sound reinforcement, lighting and lighting control, signal management, and data transmission
.
Audiovisual capture conferencing and delivery applications are the fastest growing segment of the global market, growing at a CAGR of over 5%
during the forecast period.
The emergence of new technologies, adoption of sustainable policies, rapid development of emerging regions, and changing consumer preferences are some of the factors
leading to the growth of this segment in the global market.

End-user types are divided into large venues and events, businesses, educational institutions, government and military, studios and broadcasts, hotels, and others
.
Large venues and events accounted for more than 1/3 of the total market share in 2018, growing at a CAGR of over 4% during the forecast period
.
The construction of new auditoriums, stadiums, arenas and theme parks is increasing the growth
of this segment.
In addition, the growth of studios including music production, post-production and recording venues, television, radio, and other broadcast studios will create lucrative opportunities
for vendors in the global market.
The distribution channels in the global pro-AV cable market are mainly segmented into retail and online
.
Currently, online stores are the fastest growing segment of the global market, growing at a CAGR of about 15%
during the forecast period.

Geographically, the market is mainly segmented into Asia Pacific, Europe, North America, Latin America, and Middle East
.
Asia Pacific accounted for more than 1/3 of the total market share in 2018 and is growing
at a CAGR of around 4% during the forecast period.
A growing number of government initiatives to promote the digital economy are driving growth
in the Asia-Pacific region.
Increasing demand for replacement and upgrading of aging systems in North America will drive the demand
for the global market.
Meanwhile, the UK, Germany and France are the largest sources of
revenue in the European market.
In addition, large-scale events such as Expo 2020 Dubai in the UAE and FIFA World Cup 2022 in Qatar will encourage suppliers to expand into the
Middle East.