AVMS providers are currently focusing on helping large multinational corporates and multi-site organisations to modernise their AV installations. The key drivers for market growth are cost-saving opportunities, productivity gains and the availability of systems in a digital environment. Value-added benefits are also being realised through partial automation, efficiency and environmental improvements.
The AV business management services market is now growing beyond traditional AV applications, incorporating some lighting, HVAC and environmental controls, with digital connectivity and cloud solutions enabling remote monitoring and management of these systems. Remote updates and fixes, proactive maintenance and better system performance are also becoming more commonplace.
Currently, end-users may have several control, monitoring and management platforms for each brand and type of installation. AVMS platforms can act as an overlay, with a range of disparate systems all feeding into it, providing a much-needed single access point and interface for the service manager.
Looking to the figures, in 2022 the global market for AVMS platforms and services was worth $1.6 billion, and Futuresource expects this to grow to more than $6 billion by 2027, achieving a CAGR of 29%.