Global AV Industry to reach $91 billion in 2012
MENA pro-AV industry to reach $3.14 billion in 2012
Mindstec Distribution FZCO clocks $20 million tunover
14 March 2012, Dubai, UAE:
Mindstec Distribution FZCO, one of the leading distributor's of audio-visual system-solutions in the MENA regionsuccessfully concluded the three day Visual Interact 2012-Annual Channel Partners Conference, held at Atlantis. The conference drew participation from global manufacturers of AV industry, including Mitsubishi Electric, Qomo, Magenta, Cabletime, Wow Vision, Winnov, Evoko, Sapling. andWavex
Key decision makers from the industry representing manufacturers and dealers in market segments as diverse as digital display and control room technologies, interactive educational solutions, digital media distribution and signal switching , room management productsand synchronized time-management solutions discussed the industry, emerging trends and challenges faced by the Middle East AV industry.
Speaking on the sidelines of Visual Interact 2012, Syed Abdul Wahab, Managing Director Mindstec Distribution said: "According to a InfoComm Global AV Market Definition and Strategy study the audiovisual products and services were projected to become a $91 billion global industry by the end of this year from $68 billion a year industry in 2009, all set to register a compound annual growth of 10 percent for the three-year period from 2009 to 2012."
"The study positions Middle East has one of the fastest growing AV industries in the world, projected to reach $3.14 billion by the end of 2012, growing at 13% CAGR between 2009 and 2012.Saudi Arabia and the UAE are leading consumers of AV technology in the region. Corporate, education and government markets are the three largest consumers of audiovisual products and services. The growing need for communication and collaboration in these environments fuels reliance on AV technology," added Mr. Wahab.
Winnov, world leader in conference room and classroom webcasting solutions, and maker of the industry's most cost effective multi-channel IPTV encoders chose Visual Interact 2012 to announce its debut in the region through a partnership with Mindstec Distribution. Evoko, manufacturer of room management systems and Wow,specialist inconvergent technology solutions also unveiled their product line-ups.
"Dubai is region's technology hub and Visual Interact 2012, suited our debut plans as the conference brings together a wide network of dealers and system-integrators from across the region. Our live demonstration generated a very positive feedback," commentedJoaquin Costa, Business Development & Sales, Winnov.
"Global manufacturers in electronics and AV are strengthening their presence in the region to cater to a rising demand for end-to-end solutions. Customers are showing an increased appetite for technology driven solutions. Mindstec Distribution has successfully managed to achieve 25 percent year-on-year growth since the last six years. In 2011, our revenues clocked to AED 72 million($ 20 million)."
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About Mindstec
Established in 2006, Mindstec Distribution FZCO, specializes in procurement and distribution of high-end audio-visual system-solutions in Middle East & Africa. Part of a group of companies, strategically straddling Asia and the MENA region, Mindstec is a leader in AV distribution and has been responsible for bringing the latest cutting-edge technology to these regions at an affordable price.
Mindstec Distribution FZCO, has been at the forefront of establishing and managing distribution networks for suppliers of audio-visual technology from USA, Europe and Asia. MindstecDistribution FZCO suppliers are pioneering, internationally acclaimed, industry leading manufacturing brands synonymous with excellence in research and development, technological innovation and convergent technology.Mindstec Distribution FZCO does not compete with its dealer network. The company supports its dealers through various support solutions.
Media Contacts
ShaziaKamili
Media Agency Middle East
Shazia@mediaagencyme.com
050-7264392
© Press Release 2012
