The global Audio Video (AV) market is driven by the rising demand for advanced AV experience. Continuous efforts from manufacturing companies across the globe to introduce innovative AV products is also likely to boost the market growth in the forthcoming years. In addition, rising demand for various sources of entertainment is projected to contribute to the sales of AV products. Other factors that are expected to propel the market development include latest trends and R&D activities by manufacturing companies. Alexa skills, earcons, audio renaissance, and acoustic-based NFC are some of the latest trends in the global market. Alexa is expected to be the most disruptive technology, which is catalyzed with the advanced technology of audible push notifications. Earcon is another trend in the industry.
Earcons are non-verbal audio signals that indicate an event to users and are becoming an effective marketing tool replacing the conventional sonic logos. Companies like Facebook, Google, Amazon, and Snapchat have their own earcons. For instance, considering the popularity of “OK Google” voice search, Google is adding this sound into their video marketing. In addition, Apple recently launched some videos showcasing “Siri”. 3D audio is also among one of the latest industry trends. YouTube VR and Facebook 360 can be considered as examples of 3D audio technology. The technology allows users to interact with 360 degree videos offering spatial audio. Considering the demand, major companies in various sectors, such as Fiat, Vogue, GE, and AMC, are releasing 360 degree video content with spatialized audio.
Facebook and Google are also focusing on launching dedicated workstations for spatial audio. Furthermore, shifting preference for podcasts for original content can create lucrative growth opportunities for the market. Most video systems available in the market offer standard resolution of 1080 pixels. However, rising demand for 4K resolution is likely to change this scenario in the coming years. The 4K technology in video systems offers higher resolution than High Definition (HD) technology. Such systems can be used where detailed content is must, for example, fine photography. Manufacturing companies are introducing newer products with 4K technology offering UHD quality. For instance, JVC recently launched its 4K UHD Smart TV that can also support Android 4.4 version allowing users to access applications like Amazon Prime, Netflix, and many more.
When it comes to video projection, projection mapping is likely to break the boundaries. The technology can create panoramic 360 degree and immersive visual experience for viewers. Geographically, the market can be divided into North America, Asia Pacific, Europe, Middle East & Africa, and RoW. The North America region is expected to witness significant growth over the forecast period due to the presence of major market participants such as Apple, Inc.; Facebook, Inc.; and Google LLC. In addition, quick adoption of new technologies also boosts market growth. Asia Pacific is likely to witness a substantial growth during the forecast period. This can be attributed to the rising awareness regarding latest AV technologies. In addition, key manufacturing companies in Japan, China, and India are introducing newer products with advanced technologies, which is also likely to support market development. Some of the leading companies operating in the global Audio Video (AV) market are Google LLC; Apple, Inc.; Facebook, Inc.; Panasonic Corp.; and Samsung Group.
Research Support Specialist, USA