The third phase of PLASA's Industry Market Research project is now complete, and for those keen to understand what the future holds for this industry, it offers some interesting insights.
The research pulls together key information about the size, growth and dynamics of the four main industry sectors - lighting, pro audio, staging and AV - as well as a detailed analysis of notable trends.
The findings reveal that the 2002 UK market was estimated to be worth just over £1bn at end-user prices. Breaking this down into the various market sectors, lighting accounts for £217m of that, pro audio for presentation or performance purposes equates to £337m, pro audio for architectural or commercial purposes is £53m, staging turns in £45m, but it's professional AV that delivers the lion's share at £440m.
The Research also confirms what most of us knew on the market front, putting the difficult trading conditions during 2002 down to two main things - the combined effect of the global economic slowdown, and the insecurity resulting from the events of 11 September and their aftermath. A third factor, though less influential, was that of consumer spending, which started to fall during 2002. Understandably, it was the tourism, entertainment and corporate events sectors which suffered most.
The Research indicates that the four markets shrunk marginally, down 2% on 2001 figures, with the most significant falls coming in the professional lighting and AV markets, and the only significant growth showing in pro audio, particularly in voice alarm, public address systems and other architectural and commercial applications.Overall though, there has been little growth in any of the key market sectors - not in business applications such as architectural installations and corporate events, nor entertainment applications covering the performing arts, broadcast and film and the night venue market.
Still, the UK can count its blessings, because the global market declined by as much as 5%, and in 2002 was worth approximately £11bn.
Whilst the main emphasis of the Research centred on market trends, it also encouraged those who took part to consider indicators of business efficiency in areas such as the average revenue per member of staff, and the percentage of turnover invested in staff training, marketing and R&D. By collating this information, the Research is providing a useful barometer which companies can use to accurately measure themselves against competitors. PLASA members who contributed to the findings will automatically receive a free detailed overview of the results. Members that did not originally take part can also benefit, but will need to complete and return the research questionnaire first.
For further details contact Helen Willison +44 (0)1323 401335 or e-mail
