- Press Release
- PRO AV and KVM Market to Reach US$ 530,700.4 Million by 2027
PRO AV and KVM Market to Reach US$ 530,700.4 Million by 2027 - Coherent Market Insights
Published On : Apr 12, 2021
The global Kvm and Pro Av market was valued at US$ 284,522.3 Million in 2021 and is expected to surpass US$ 530,700.4 Million by 2027, registering a CAGR of 10.8% during the forecast period (2021-2027), according to the Global PRO AV and KVM Market Report, By Type (Products and Services), By Distribution Channel (Direct Sales and Distributors), By End user (Media and Entertainment, Corporate, Education, Theatres/Live Events, Government, Hospitality and Retail, Energy and Utilities and Others) and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa), published by Coherent Market Insights.
The increasing adoption of PRO AV and KVM in smart learning is expected to drive market growth during the forecast period. The demand for Pro AV products is rapidly growing in the education sector due to Pro AV providing certain features such as interactive multi-touch Ultra HD (4K) screen, multiple wireless screen support, multiple personal computer support, individual activity control, and others. Moreover, KVM products are used in various education institutes as it offers functions such as control and monitor the student’s computer, sharing the information with fellow students, monitor students’ activity using single screen, keyboards, and mouse; easy installation, and other features. Hence, use of Pro AV technology in the smart learning market is increasing.
The global smart learning market is growing rapidly, which will help the Pro AV market to exhibit growth over the forecast period. According to Coherent Market Insights’ analysis, the global smart learning market is expected to rapidly grow from US$ 23.7 billion in 2019 to US$ 65.5 billion by 2027, with CAGR 22.1% during the forecast period 2020-2027. Thus, considering the rapid growth in the education sector, many key market players are offering KVM products for the education sector. For instance, KVM Choice Ltd., a U.K.-based KVM products and services providing company, offers various products specially designed for the education sector. The products include RE-CVK-SP, CVK-SR, RE-CVK-TP, CVK-TR, and others. Thus, the increasing use of smart learning in the education sector is expected to drive growth of the global Pro AV and KVM market during the forecast period.
Global KVM and PRO AV Market - Impact of Coronavirus (Covid-19) Pandemic
Healthcare is one of the industries which has witnessed the fastest growth during the COVID-19 pandemic. Moreover, demand for Pro Av and KVM products has also increased from this industry due to the need for telemedicine services for routine physical check-ups. In order to limit the direct contact, patients and doctors are shifting towards telemedicine services, which require advanced Pro AV solutions to communicate with patients. According to Coherent Market Insights analysis, the global telemedicine services market is expected to reach 196.3 billion by 2027 from 36.7 billion in 2019. Apart from telemedicine services, Pro AV solutions can be used for informative and entertainment purposes for patients in hospitals. Thus, the growing demand from the education and healthcare is expected to positively impact the global Pro AV and KVM market growth.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/pro-av-market-3831
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Key Trends and Analysis of the Global PRO AV and KVM Market:
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