(MENAFN) The Middle East and Africa (MEA)'s audiovisual market is expected to reach USD4.63 billion by 2016, making it among the fastest-growing markets in the world, Saudi Gazette reported.
The MEA audiovisual market projected growth will increase the value of the market from USD2.79 billion in 2012 to USD4.63 billion by 2016, posting an annual growth rate of 13 percent.
Audiovisual technology is currently important to every industry, including education, healthcare, transportation, and media, and it covers a wide range of products and services such as displays and digital signage, lighting and sound systems, media recording and storage equipment.
In terms of countries, the UAE's audiovisual market is projected be the fastest-growing and second-largest in the Middle East, increasing from USD700 million in 2012 to USD1.24 billion in 2016.
"Boosted by Dubai, the Middle East and Africa region offers strong audiovisual market potential, thanks to strong investment, a young online population, and a low penetration of audiovisual adoption," Executive Director, InfoComm Asia Ltd. said.
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