Global Laser Projector Market Scope
The global Laser Projector Market is expected to reach USD
8.32 billion by the end of the forecast period with a compound annual growth
rate (CAGR) of 16.37%. It was valued at USD 2.93 billion in 2018.
The adoption of laser projectors by universities,
movie theaters, and home owners owing to their low maintenance can drive the
market demand. Rising demand for RGB laser projectors can be opportune for
market leaders. Recently, Optoma launched the CinemaX P2 ultra short throw
laser projector for delivering images in ultra high-definition (UHD) format. It
can also be controlled using a mobile application and compatible with voice
assistants such as Google Assistant and Amazon Alexa.
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Laser projectors are illumination devices able to
project an image on the screen. The advantages of low maintenance, long
brightness, and durability are likely to induce its demand among enterprises
and corporations. The global laser projector market report by Market Research
Future (MRFR) takes a deeper look at the industry and forecasts its
developments from 2018 to 2023 (assessment period). The COVID-19 outbreak and
its impact on production are analyzed in detail.
The COVID-19 pandemic has dampened the demand for
laser projectors as governments globally declared shutdowns of large businesses
and gathering of crowds. It has also halted the demand in the manufacturing
sector. However, the ease of lockdown rules and reopening of amusement parks
and entertainment venues can drive the demand for laser projectors.
Segmentation
The global laser projector market has been segmented
on the basis of illumination type, resolution, and vertical.
By illumination type, the global laser projector
market has been segmented into laser phosphor, hybrid, RGB laser, laser diode,
and others.
By resolution, the global laser projector market has
been segmented into XGA (1024 x 768 pixels), WXGA (1280 x 800 pixels), HD (1920
x 1080 pixels), 4K (4096 x 2160 pixels), and others.
Based on vertical, the global laser projector market
has been segmented into retail, media & entertainment, healthcare,
education, industrial, and others. The education vertical is expected to
capture a large share of the global laser projector market share owing to its
requirement in universities and places of higher learning for imparting
knowledge to students.
Regional Analysis
By region, the global laser projector market has
been segmented into North America, Europe, Asia Pacific (APAC), the Middle East
& Africa (MEA), and Central & South America.
The APAC region is estimated to dominate the global
laser projector market, followed by North America, Europe, and the rest of the
world. The demand for laser projectors in stadiums, amusement parks, and public
places in China, Japan, and South Korea has attributed to the growth of laser
projector market in this region. Moreover, technological advancements such as
4K and 8K quality laser projectors have expedited market demand. Developments
in projections and image quality by manufacturers can induce heavy demand for
laser projectors.
On the other hand, North America is expected to
witness the fastest growth due to the increasing consumer awareness regarding
high-brightness laser projectors. In addition to this, the adoption of laser
projectors in schools and universities to enhance the learning experience has
contributed to the growth of laser projectors in this region.
Competitive Outlook
Sony Corporation, LG Electronics, Ricoh, Canon Inc.,
Panasonic Corporation, Seiko Epson Corporation, Optoma, Barco, Dell, NEC
Display Solutions, BenQ America Corp., Christie Digital Systems USA, Inc.,
Delta Electronics, Inc., Xiaomi, and Hitachi Digital Media Group are key
players of the global laser projector market.
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