December Temperature Check Results: ProAV in 2023
Now that December has come and gone and we’ve officially rung in the new year, it’s time to review the results of rAVe’s December Temperature check. For this survey, we wanted to get our readers’ perspective on how the world of ProAV has changed in 2023. We interviewed Mark Coxon of AVI-SPL, who helps give us context about the results.
Our first question (above) focused on which market segment experienced the most growth in the past year, with the majority of respondents agreeing that education experienced the most growth.
Coxon agreed with the results of the survey, noting that several opportunities beyond just the classroom opened up to the ProAV industry in 2023.
On the other hand, respondents’ opinions on which market segment experienced the least amount of growth in 2023 were fairly split, something Coxon attributes to the fact that there weren’t significant decreases in any of the categories mentioned. Instead, Coxon said each integrator has a slightly different outcome based on vertical market focus.
Our next question asked readers what emerging technology they thought created the most new opportunities in 2023, and the majority agreed that artificial intelligence (AI) created the most new opportunities.
“AI generated the most revenue, if you include things like auto framing cameras, smart gallery, and personalized control as AI,” Coxon said.
Despite the hype, the majority of respondents indicated that the Metaverse created the least amount of new opportunities in 2023. According to Coxon, the Metaverse trailed the rest of the categories in terms of revenue generation in 2023.
Our next question focused on the state of the ProAV industry. The majority of respondents indicated that their profit margins stayed the same (50.6%) or increased (36%). These results are promising for the ProAV industry as we head into the new year.
Our next question asked respondents about their level of participation in trade shows and physical events. The majority of respondents said their participation stayed the same over the course of the past year. The results of this survey likely bode well for the future of ProAV trade shows, illustrating their importance to the industry even after the pandemic.