The Middle East has been identified as being among the fastest growing markets for the multi-billion dollar audio visual industry which, in spite of the troubling economic environment last year, has seen no overall contraction in spending.
The future looks bright for the AV industry with the market in the Middle East and Africa alone expected to be worth more than $3 billion by 2012.
"Market dynamics are now changing and regional buyers are not travelling as much to Europe or the US to source products and services as they used to three years ago. There is an immense potential for business growth and finding newer market segments for manufacturers who wish to explore the Middle East as a markets. Above all, the extraordinary spending power makes this region unique," said Mustafa Iqbal, senior marketing manager for Palme, the region's only trade event dedicated to professional audio, lighting, AV, systems integration, music and entertainment solutions.
"The purchasing authority of visitors that attended the 2010 edition of Palme Middle East accumulated to a whopping $1.035 billion, which clearly indicates the size of this burgeoning market and how much business companies may attract by being part of the forthcoming edition of this show in April 2011," he added.
The show witnessed 19 per cent increase in number of exhibiting companies, 95 per cent of which confirmed that the quality of visitors and their return on investment for participating at Palme had met or surpassed their expectations.
"We had another great show this year, despite the travel plans being somewhat disrupted from the UK. We were able to really increase market penetration which is made easy with a show like Palme," says Gordon Cooper, director of SES, UK.
Scheduled to be held from April 22 to 26 next year, Palme 2011 will feature areas for laser and lighting demos, simulators and home automation areas, music and DJ equipment demos as well as conferences, certified education courses and free to attend product / technology focused seminars. Another highlight for 2011 will be the second Palme Middle East Awards where achievements will be rewarded in 10 categories covering audio, AV and lighting sectors.