The development history and market trends of the audio and video system industry.

Date:

2024-12-12

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The scale of China's professional audio and video industry has been continuously expanding, and its market growth rate is higher than the global average level. The application in fields such as office, culture, sports, and entertainment has been gradually deepening, which has enabled the continuous development of China's audio and video industry. Data shows that the global social entertainment market size alone increased from 411.3 billion yuan in 2017 to 1,566.3 billion yuan in 2021, with a compound annual growth rate of 39.7%. The China Commerce Industry Research Institute predicts that it will reach 1,900.9 billion yuan in 2022. Driven by the rapid progress of information technology, the application fields of professional audio and video systems have been continuously expanding. So, how has the audio and video system industry developed rapidly? What are the future market demands and spaces like? **Development History** Audio and video systems were first applied in the fields of conferences, broadcasting, and performance entertainment for the basic presentation of relevant information. However, with the continuous progress of audio and video technologies, software, related algorithms, and control means, their functions have become increasingly powerful. As the functions have become more and more powerful, the application fields have also been continuously broadened, gradually infiltrating into all aspects of human society. Currently, they can be used in any application scenarios with auditory and visual needs. The scenarios with auditory and visual needs may seem rather broad and abstract, and you may also think that these are far from our industry. Then let's take a simple example. The "Time Tunnel" built by Baiyun Airport in 2016 is a very good application scenario that integrates both auditory and visual elements. We were also lucky to experience the magnificent and cool time corridor on the spot. In such a time corridor, 68 projectors, 68 sets of fiber optic extenders, and central control equipment were used to perfectly present the visual and auditory content that needed to be displayed. Let's take another example of auditory and visual aspects. With the continuous development of information, people need to process more and more information. Just like the provincial command center, they not only have to process the information from within themselves but also often deal with the information from cities, counties, and even townships. These pieces of information are directly presented through vision and hearing, and they need to be continuously enlarged, dragged, and even directly distributed to specific persons in charge for follow-up in the command and dispatch center. The transmission and presentation of such advanced and large amounts of information are completed by using audio and video equipment in our industry, such as distributed seat KVM systems, splicing and control processors, and matrix switchers. Before the 1990s, the development of China's professional audio and video industry was relatively slow. The research and development, design, and production and manufacturing of major equipment and systems mainly relied on state-owned enterprises, and the overall level was relatively low. After the 1990s, the national economy developed rapidly, people's living standards and horizons were significantly improved, and the demand for information exchange as well as cultural and entertainment consumption rose rapidly. Stimulated by this, China's professional audio and video market experienced its first rapid development. Given the relatively large technological gap between China and foreign countries at that time, imported products dominated the professional audio and video field. A large number of excellent international brand products entered the Chinese market in the form of agency sales, rapidly improving the application level of relevant domestic industries and gradually leading the growth of the first batch of system integration enterprises. In the early 2000s, after a period of learning, domestic local enterprises began to carry out production, manufacturing, design, and research and development work in this professional field mainly in the forms of "OEM subcontracting" and "imitative innovation". Marked by the successful participation in the relevant construction of the 2008 Beijing Olympic Games, the second rapid development period was formed. A large number of local brands successively entered the international and domestic markets. Some of them gradually completed capital accumulation in the competition and began to focus on their own technology and brand building. In addition, in the early days, most of the domestic professional audio and video fields took product performance and functions as selling points, emphasizing the satisfaction of products themselves for application scenarios. However, with the development and progress of technology, overall solutions that can better match application scenarios and include technical services have gradually been recognized by the market. Solutions that emphasize systematicness, integrity, applicability, and pertinence have gradually gained an advantage in market competition. **Current Characteristics** First, compared with developed countries, it started relatively late but has developed relatively fast on the whole. Second, the entry threshold is relatively low, there are a large number of enterprises, and the competition is fierce. After years of development and accumulation, a relatively obvious trend of industry restructuring has emerged at present. Third, the main business entities are private enterprises. Fourth, relevant production and research and development are mainly concentrated in the Pearl River Delta region, supplemented by the Yangtze River Delta region, and a relatively complete professional audio and video industrial chain has been formed. Overall, accompanied by technological innovation, the improvement of application goals, the expansion of application fields, and the transformation of market forms and competition patterns, the domestic professional audio and video industry still has good growth space. **Future Trends** The global professional audio and video industry is growing steadily. Statistics show that the market size of the global professional audio and video industry was 231.91 billion US dollars in 2021 and is expected to reach 328.97 billion US dollars in 2026. The compound annual growth rate from 2021 to 2026 is 7.24%. Among them, the professional audio and video industry in the APAC (Asia-Pacific) region is developing relatively fast. Its market size was approximately 87 billion US dollars in 2021 and is expected to reach approximately 127 billion US dollars in 2026. The compound annual growth rate from 2021 to 2026 is 7.86%. The rapid development of the economy has led to a significant increase in application scenarios in fields such as conferences, exhibitions, cultural and sports venues, and cultural tourism, providing strong support for the growth of China's professional audio and video system market.

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