Middle East to Reach Record Audiovisual Market
The Middle East’s audiovisual market is set to post one of the world’s fastest growth rates, increasing by 76 percent from USD 1.57 billion in 2012 to USD 2.76 billion in 2016, according to trade association Infocomm International. The audiovisual market for the wider Middle East and Africa (MEA) region is set to reach USD 4.63 billion by 2016.
Audiovisual technology covers every industry vertical, and can include high-definition displays and projectors, lighting to sound systems, and streaming and webcasting technology.
Led by products, equipment, and services for GCC megaprojects and events such as World Expo 2020 in Dubai, 2022 FIFA World Cup Qatar, and transport and Smart Cities projects in the Kingdom of Saudi Arabia, the hospitality and retail sectors are set to see the most benefit.
GCC megaprojects will spur the Middle East to post a record audiovisual market value of nearly USD 3 billion by 2016, industry experts announced in the build-up to GITEX Technology Week 2015.
“The Middle East posting one of the world’s fastest growth rates in audiovisual technology shows that we’ve gone from an era of talking about the benefits of audiovisual technology, to organisations actually purchasing solutions – whether high-definition displays for exhibition sites and stadiums, virtual check-in kiosks at hotels, or security systems for metro projects,” said Executive Director, Infocomm Asia, organisers of Infocomm MEA, a leading audiovisual event in the region.
“Middle East organisations want the highest quality audiovisual technology for their megaprojects to provide the best experience for their tech-savvy customers. This provides a strong opportunity for audiovisual vendors and systems integrators to enable organisations to manage information more efficiently, and enhance daily lives,” added Richard Tan.