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The projector market is projected to experience growth, with the market size is forecast to increase by USD 4.81 billion at a CAGR of 5.32% between 2023 and 2028. The growth of the projector market is driven by several key factors, including the increasing adoption of projectors in the entertainment industry, the growing digitization in the education sector, and the emerging use of projectors in the corporate sector. Projectors are optical devices that project an image or a series of moving images onto a surface, with some modern types using lasers to project the image directly. Moreover, portable projection screens enhance mobility and flexibility in projection setups, projector screens optimize display quality for various environments, multimedia projectors incorporate advanced features catering to diverse applications, and automotive projector headlamps improve vehicle lighting systems with superior visibility and efficiency.
The report includes a comprehensive outlook on the projector market, offering forecasts for the industry segmented by Technology, which comprises LCD, DLP, and LCoS. Additionally, it categorizes Type into short, ultra-short, and normal, and covers Geography regions, including APAC, Europe, North America, South America, and Middle East, and Africa. The report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.
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The emerging use of projectors in the corporate sector is the key factor driving market growth. Projectors incorporate user-friendly interactive software that requires very little time to set up. The presenter/person who uses interactive projectors can create drawings in vibrant colors by using a stylus. In addition, interactive projectors also have a record and playback option, besides being able to render multiple file formats and digitally capture handwritten notes that can be retrieved and shared later.
For example, the ViewSonic LS500W LED Projector delivers products that help professional audio/visual installers and integrators manage the evolving environment and changes for their customers. Thus, the emerging use of projectors in the corporate sector will drive the growth of the market during the forecast period.
The introduction of interactive projectors is the primary trend shaping market growth. Interactive projectors are similar to interactive whiteboards, wherein the projectors form the interactive device, which can be used on any surface. There is no need for a whiteboard, and the computer display can be projected on any surface, while the user can control the computer using a stylus, a pen, or his or her fingers. In addition, interactive devices have now become the most crucial part of a classroom in the education sector. Students find them engaging, while teachers find them a vital tool while teaching students.
Furthermore, the corporate sector is finding them useful for presentations and other purposes. Though all these interactive devices have a similar function, there are some factors that make each of these devices unique. Besides, countries like India, Brazil, and Canada are spending substantial amounts on the education sector, which will help in the adoption of interactive projectors as interactive projectors have become an integral part of classrooms. Thus, such factors will drive the growth of the market during the forecast period.
Low lamp life is a challenge that affects market growth. In a lamp-based projector, the end-user has to replace the lamps 3-4 times within a span of five years if the projector is used 3-6 hours a day. The cost of four lamps is approximately USD 1,000. On the other hand, LED-based projectors do not require continuous replacement of lamps, as they can last for almost five years.
However, the brightness of LED projectors is much lower than that of lamp-based projectors. An LED projector projects a lower-resolution image than a lamp-based projector. LED projectors are not a replacement for lamp projectors but only one of the alternatives. Thus, the low life of lamps may impede the growth of the market during the forecast period.
The market share growth by the LCD segment will be significant during the forecast period. The LCD projector technology is similar to the one used in TVs, where it comprises three liquid crystal panels that are tasked with creating the required image using the primary colors. Projectors with LCD technology are also called 3LCDs because they use three liquid crystal panels. With the increasing penetration of digitization in the education sector, a large number of education institutions see LCD projectors as a cost-effective solution to be in line with the technological advancements in the sector.
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The LCD segment showed a gradual increase in the market share of USD 6.54 billion in 2018. Furthermore, with the global projector market moving toward portable and ultra-portable projectors from traditional installation projectors, the growth prospects for the technology are declining constantly. Though the technology can be compatible with portable projectors, the level of brightness and sharpness may be compromised to some extent. Overall, the demand for LCD technology is expected to grow which will drive the growth of the global projector market in the forecast period.
Short-throw projectors have a throw ratio of 3-8 feet. Thus, these projectors need to be placed between 68 cm and 1.33 m away from the screen to get an image that has a diagonal measurement of 70 inches. Short-throw projectors can make far better images at much shorter distances, making them ideal for those who only have a small area in which to house their projector. In addition, many short-throw projectors also offer the option of changing the picture quality based on the projection screen. Short-throw projectors are available in many form factors, from portable to bulky for permanent or semi-permanent installations. Furthermore, the demand for short-throw projectors started gaining traction among end-users as they are less expensive, create fewer shadows, and require less space. This will drive the growth of the market during the forecast period.
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APAC is estimated to contribute 42% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The projector market in APAC is witnessing significant growth because of the increase in the demand for projectors from the industrial, education, and corporate sectors and the media and entertainment industries.
Moreover, consumers are transforming their TV systems into advanced projectors and screens to experience big-screen projections. Home cinema theaters, outdoor projectors, and rooftop restaurants with screens, among other new trends, are playing a major role in promoting the growth of the projector market in APAC. In addition, companies like The Optoma Group have their continental headquarters in China, which leads the regional projector market. Hence, such factors are expected to drive market growth in this region during the forecast period.
The outbreak of COVID-19 in 2020 had a negative impact on the projector market in APAC. However, in 2021, the initiation of large-scale vaccination drives?lifted the lockdown and travel restrictions, which led to the resumption of supply chain activities. Furthermore, the governments of major regional economies have started taking various measures to promote digitalization in almost every industry vertical and continue to encourage foreign direct investment (FDI)investments in their respective countries. Thus, such initiatives will propel the demand for projectors across APAC, thereby driving the growth of the global projector market during the forecast period.
The Projector Market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Projector Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The projector market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018-2022.
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Projector Market Scope |
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Report Coverage |
Details |
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Page number |
170 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.32% |
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Market Growth 2024-2028 |
USD 4.81 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
4.6 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 42% |
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Key countries |
US, China, Japan, India, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
AAXA Technologies Inc., Acer Inc., ASUSTeK Computer Inc., Canon Inc., Hitachi Ltd., InFocus, JVCKENWOOD Corp., Koninklijke Philips N.V., Lenovo Group Ltd., LG Electronics Inc., Magnasonic, MicroVision Inc., Qisda Corp., Samsung Electronics Co. Ltd., Seiko Epson Corp., Shenzhen Hotack Technology Co.Ltd., Sony Group Corp., Texas Instruments Inc., ViewSonic Corp., and YABER |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Technology
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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