UAE's professional audio visual market to value $707 million by 2018, says EMI
The UAE's professional audio visual market is estimated to value $707 million by 2018, up from the expected $656.2 million in 2016, as the industry shakes off a market slowdown, said Euromonitor International (EMI) report.
Economic growth, rising tourism, and the completion of several mega projects, are the key drivers of the UAE's professional audio visual market, with demand for related equipment and services estimated to grow by nearly eight per cent over the next two years, new research has revealed.
The August 2016 report said the expected growth is due to the UAE government's strong focus on diversification toward a service and tourism-oriented economy, while the imminent completion of major projects such as the Guggenheim and Louvre Museums in Abu Dhabi, and Dubai's Mohammed bin Rashid City, will fuel demand for professional audio visual and lighting installations.
Mohammed bin Rashid City alone will be home to 100 hotels, five theme parks, and a marine life park once completed, but the biggest impact may be in 2019, as AV equipment integration comes at the last phase of projects in the final countdown to the Dubai Expo 2020.
The bright outlook sets the stage for the inaugural edition of Prolight + Sound Middle East, where global suppliers of professional technologies and services for the entertainment and creation industries will showcase their newest products from October 31-November 2, 2016 at the Dubai International Convention and Exhibition Centre.
They'll meet buyers from key customer segments such as rental companies and event organisers, which according to the EMI report, account for nearly 50 per cent of the UAE market share, due to frequent purchases every 3-5 years of the latest equipment for customised and temporary event-based applications.
Meanwhile, the government sector too will be a key target customer segment for fixed professional AV applications, as it continues to invest in expanding and upgrading infrastructure projects and public services such as airports, metro stations, cultural, and religious institutions.
"With market trends indicating the demand for pro lighting, sound, and audio equipment is headingin the right direction, we're delighted to present an annual platform of ground-breaking products dedicated to the entertainment industry," said Ahmed Pauwels, CEO of Messe Frankfurt Middle East, the organiser of Prolight + Sound Middle East.
"In Prolight + Sound Middle East, we're providing a highly interactive networking, developmental and sourcing platform, where the world's premier brands will present their latest product lines, from stage lighting and DJ equipment to special effects and multimedia, or audio and AV systems to infrastructure and furnishings."
More than 70 per cent of exhibition space at Prolight + Sound Middle East 2016 has been booked, with the biggest names in the business throwing their hats into the ring. - firstname.lastname@example.org