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An Interview with Ruben Rengel, Vice President of Global Business Development, ABSEN
AVL TIMES had the exclusive opportunity to an interview with Ruben Rengel, Vice President of Global Business Development at ABSEN. Helming the responsibility for global business development as well as implementing Absen’s strategic plans, we are fortunate to have him share his views about the rapid progress of the company, and especially what's next for the brand.
What aspects of Asia‐Pacific and/or Global market sectors make video technology an exciting industry to be involved in?
The really exciting thing is that LED technology is always evolving. For example, a recent development is MicroLED which is creating a lot of buzz as it has the capability to replace traditional display technology including projection and LCD video walls. This makes for an exciting future as the potential growth is exponential, creating new opportunities as it continues on its upward trajectory.
How much growth for your industry do you see in the next 2‐3 years for:
(a) Asia‐Pacific, (b) EMEA, (c) North & South American markets?
Absen is involved in many markets, so when analysing growth, we look at the vertical markets we operate in, as well as across all our regions. At present we are seeing huge growth in the corporate market – and this looks set to continue for some time yet. Alongside this, the OOH (Out of Home) market is likely to grow 10‐15% in the next 2‐3 years. When looking at regions, we are aware that there is much work to be done in Asia‐Pacific which, for us, makes it an exciting area in which to operate. EMEA however is a much more mature market, so the growth areas there are different to those in Asia‐Pacific.
How much did the 2020‐2021 pandemic crisis affect the business, and what new insights have you learned about the industry from those 2 years. Pre‐ pandemic, the rental market was equivalent to 50% of Absen’s revenue, but when the world came to a sharp stop in early 2020, we had to change our strategy. The crisis helped us to re‐ invent ourselves and look more closely at where we could grow our business. Both virtual production and extended reality applications took off, something that thankfully we had anticipated, so we were in a good position to take advantage of this exciting trend.
We also had to take a look at our corporate strategy as hybrid working became the norm, which completely changed the way meetings are conducted. With this new a new way of meeting, corporate spaces have had to become more of an experience and creating immersive spaces within a corporate application became the most important trend in the corporate space. We are seeing a lot of opportunity for companies like Absen here.
Which markets are currently of most interest to you: rental, commercial install, worship, education, broadcast, studio, etc.
The VP (Virtual Production) market is incredibly interesting, and our R&D department is working tirelessly to bring products to market that are fit for that purpose. At our recent VP Forum in London, we spoke with those working in the VP industry and got lots of good feedback on current products, while also giving an exclusive showcase of our PR series, which has been specifically designed for VP applications. The event was such a success that we are planning to make it an annual fixture.
We’re also continuing to grow our corporate portfolio, with our award‐ winning Clear Cobalt Series, we have a product range that is suitable for all corporate applications.
We also want to maintain our leadership position in Rental & Retail & OOH and continue working with the largest companies in the world, delivering award winning projects.
What is different about how the video market is today when compared to 5‐years ago?
LED technology has been completely transformative; narrow pixel pitch was not possible 5 years ago, or at least not ready to be rolled out on a large scale. It’s now a more affordable technology, allowing system integrators to move away from traditional LCD walls and projection, and allowing them to implement the latest innovative LED solutions, bringing real innovations to their clients.
What are the newest market trends in video technology that have emerged over the last 24 months?
Answers are all of the above and with the pandemic having made such an impact and increasing the sheer numbers of users of Zoom and Microsoft, businesses are investing in the solutions needed for the new hybrid‐style corporate environment.
What is the latest technology advancement that ABSEN is introducing in their product range currently sold in the market?
Absen recently opened a manufacturing plant to solely produce COB (chip‐on‐board) products and we are seeing very strong demand for both these solutions.
Which recently completed or currently ongoing projects using your products are you most proud of?
Please tell us what you personally find exciting and/or challenging about being involved as a key participant in the growth of video technology for newer and future applications.
Personally, I find it exciting to face challenges, whether those challenges are technology‐based or within new and innovative verticals. It’s exciting to be leading the market with Absen LED and to always be working on new products to bring to the market. Staying ahead of competitors, is very exciting as we have to keep innovating to stay on top.
And finally, what are ABSEN's dream to achieve in 2025?
So far the Absen journey has been an exciting one with many milestones along the way. We are passionate about continuing on this path and maintain our brand reputation and perception in the marketplace. By 2025 we want to be the number one global LED supplier in all the verticals we operate in.
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