Laser projectors create moving images by showcasing light through a transparent lens. Advantages of efficiency, durability, low-maintenance, high brightness levels, and improved color schemes are likely to warrant their demand by institutes and organizations. The global laser projector market report by Market Research Future (MRFR) contains answers to various pertinent questions of industry leaders as well as the main drivers and hurdles for the period of 2019 to 2025 (forecast period). The impact of the COVID-19 pandemic on the industry as well as estimations for valuation and growth are included in the report.
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 inclination towards movies and commercial arts can drive the market demand exponentially. The influence of technology and story-telling as well as improvements in picture quality is likely to bode well for the market. Recently, Samsung Corporation launched the 4K Ultra Short Throw laser projector for users looking for better viewing experiences. The COVID-19 pandemic has led to restriction of movement and will lead to consumers spending time at their homes. This can spur the purchase of laser projectors and boost market demand.
Low maintenance costs, demand for RGB laser projectors, and applications in various industries can drive the market demand till 2025. Advantages over lamp projectors due to their lifespan, downtime, and low maintenance can bode well for the market. The use of laser phosphor projectors due to their application in museums, temples, classrooms, and boardrooms can fare well for the market in the coming years.
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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 RGB laser, laser diode, laser phosphor, hybrid, 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 industrial, retail, media & entertainment, education, healthcare, and others.
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 (CSA).
As per MRFR analysis, APAC 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 Japan, South Korea, and China has attributed to the growth of laser projector market in this region. Moreover, technological advancements such as 4K and 8K resolutions have also accelerated the 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. 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. The huge demand for high-brightness projectors can push the regional market demand.
Seiko Epson Corporation, Sony Corporation, Barco, Christie Digital Systems USA, Inc., BenQ America Corp., Canon Inc., Ricoh, NEC Display Solutions, Panasonic Corporation, Dell, Delta Electronics, Inc., Xiaomi, Hitachi Digital Media Group, LG Electronics, Optoma, and others are key players in the global laser projector market.
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