Audio visual (AV) distributor Midwich (MIDW:AIM) expects the global AV market to reach $230bn by 2022, it said at a capital markets day in October.

That equates to a compound annual growth rate (CAGR) of 5%.

The European AV market is expected to hit $53.5bn by 2022, good news for a company with exposure to France, Germany, Ireland and Spain to name a few of its end markets.

The company also says the use of digital advertising boards over print posters is one driver of the sector as well as the growth of touch screen displays in shops, schools and workspaces.

Another factor behind the company’s success is the need for new technology to replace outdated equipment. This could include replacing screens to handle 4K definition.

Midwich is targeting new areas such as lighting and professional audio markets. This year’s acquisition of Earpro in Spain and Gebroeders van Domburg in the Netherlands is a clear sign of intent to exploit these new sectors.

Perhaps the biggest driver of the AV market’s success and by association Midwich’s own, is the widespread adoption of flat panel displays to replace projectors.

The company estimates the flat panel display market is expected to exhibit a CAGR of 15% from this year until 2022.

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