The entire UK entertainment technology industry is valued at £1.28 billion in 2017/18 and is predicted to grow over the next five years, according to a new research report by PLASA.
According to the research all industry technologies have seen growth, particularly AV and audio which represent 38 per cent and 27 per cent of the market share respectively. Professional AV is currently valued at £490 million and has an increasing presence in many sectors including architectural and retail. Professional audio is valued at £340 million due to its usage in installations and sports among others.
Additionally, the report details how macro-environment factors such as GDP, tourism and consumer trends have affected the industry in recent years and cautions how these factors could continue to have an effect.
Peter Heath, managing director of PLASA, commented: “It’s great to learn that the entertainment technology industry is in such good shape. And with the industry diversifying and adapting, it is clear that leading professionals from all sectors are more than capable of steering live entertainment technologies in the right direction for generations to come.”
PLASA plans to repeat the research every 12 months, enabling it to build up more accurate trend information. The full report is available to download here.