Laser Projector Market Research Report - Global Forecast till 2027

Laser Projector Market Research Report: by Illumination Type (Laser Phosphor, Hybrid (Laser and LED), RGB Laser, Laser Diode, Others), Resolution (XGA (1024 x 768 pixels), WXGA (1280 x 800 pixels), HD (1920 x 1080 pixels), 4K (4096 x 2160 pixels), Others), Vertical (Retail, Media & Entertainment, Healthcare, Education, Industrial, Others) and Region (North America, Europe, Asia-Pacific, Middle East & Africa, Central & South America) - Forecast till 2027

ID: MRFR/SEM/6867-HCR | February 2021 | Region: Global | 111 pages

Laser Projector Market

In 2018, the global laser projector market size is registered as USD 2.93 billion and is expected to reach USD 8.32 billion and exhibit a significant growth of 16.37% CAGR during the forecast period.

Segmentation

By Illumination Type Laser phosphor hybrid RGB laser laser diode others
By Resolution XGA (1024 x 768 pixels) WXGA (1280 x 800 pixels) HD (1920 x 1080 pixels) 4K (4096 x 2160 pixels) others.
By Vertical Retail media & entertainment healthcare industrial education others.
By Region Asia-Pacific the Middle East & Africa Europe North America and Central & South America

Key Players

  • 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
  • Hitachi Digital Media Group

Drivers

  • The growing adoption of laser projection technology in various industries and less maintenance cost are the major drivers of the market. Less maintenance cost
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Laser Projector Market Overview


In 2018, the global laser projector market size is registered as USD 2.93 billion and is expected to reach USD 8.32 billion and exhibit a significant growth of 16.37% CAGR during the forecast period.


Laser projectors are solid-state illumination devices. These devices use lasers to generate light and produce an image on the screen. These laser projectors are having various benefits like lower maintenance, long-lasting brightness, fast and stable projection with a high repetition rate, optimized for 2D and 3D objects, improved color, and contrast compared to lamp-based projectors. Hence these are replaced the lamp-based projectors in various applications like commercial, industrial, and residential spaces for their better efficiency, and durability. These projectors can be easily turned off because it does not contains the lamp in it. Apart, these are suitable for heavy use and all-day use applications for their significant approximate life of 20,000 hours.

COVID-19 Analysis of Laser Projector Market:

The laser projector is a device that can produce the moving image on the screen by projecting the laser beams. These projectors are mostly adopted by the entertainment industry and education sector. According to the World Health Organization (WHO) report, the COVID-19 prevalence across the globe was declared as a pandemic in March 2020. The governments have imposed lockdowns all over the world to control the spread of the virus. This situation leads to business sectors and manufacturing industries shutdown, temporary closure of the school, universities, theaters, and all other public places.

Due to the closure of educational sectors and movie theaters, the use of laser projectors decreases which declines the laser projector market demand. Hence, we can say the pandemic situation impacted the laser projector market products negatively. Due to the temporary suspension of the manufacturing activities during the pandemic lockdown, the production of the laser projector halts and causes a decline in the sales of laser projectors which hampers the growth of the laser projector market. However, during the lockdown people staying in houses are using laser projectors to watch movies and the reopening of the schools, business sectors, schools, and theaters are rapidly accelerating the laser projector market growth.


Market Dynamics:



  • Drivers:


The growing adoption of laser projection technology in various industries and less maintenance cost are the major drivers of the market. These laser projectors can operate at a low temperature and do not require much cooling. Laser projectors have several advantages like long-lasting up to more than 10 years, consume less power, and produce less heat, high contrast, brighter & sharper images compared to lamp-based projectors, which are boosting the growth of the laser projector market. Hence these are preferable for several verticals like enterprise, cinema, education, and retail.



  • Restraint:


Due to the technology innovation, laser projectors cost more. The price of the laser projectors depends on the lumen used. The higher lumen is more expensive. Even though electricity and maintenance savings are less compared to lamp projector over its lifetime.



  • Opportunities:


Growing demand for high-brightness projectors and increasing demand for RGB laser projectors in theaters are expected to create significant growth opportunities during the review period.



  • Challenges:


Rainbow effect and light leakage during projection are the challenging factors of the laser projector market.

Study Objectives -



  • To provide detailed information about the market structure along with various forecast segments and sub-segments for the next 10 years.

  • To provide the factors that are affecting the growth of the market value.

  • To analyze the laser projector market industry analysis based on porter’s five force analysis, factors-price analysis, supply chain analysis, etc.

  • To provide history and forecast revenue segments and sub-segments of the market revenue for the main geographies.

  • To provide the country-level analysis of the current laser projector market size and future prospective.

  • To provide country-level analysis of the market industry growth by region, form, and application.

  • To provide a strategic profile of the prominent key players in the market, analyze their core competencies, and draw a global market growth landscape.

  • To track and analyze new product developments, strategic alliances, and global laser projector market research.


Global Laser Projector Market, USD Billion  Laser Projector Market


Source: MRFR Analysis


Laser Projector Market Segment Overview:


The laser projector market is globally segmented into four types, based on resolution, illumination type, vertical, and region.


Based on Illumination Type


The laser projector market based on illumination is segmented into several sub-segments such as laser diode, hybrid, RGB laser, laser phosphor, and others. Among them, laser phosphor leads the market for its better illumination, it is preferable for various applications like museums, educational events, and movie theaters.


Based on Resolution


Based on the resolution, the global laser projector market has been divided into various types as HD (1920 x 1080 pixels), XGA (1024 x 768 pixels), 4K (4096 x 2160 pixels), WXGA (1280 x 800 pixels), and others. Out of these resolutions, the HD segment holds the largest market share owing to its low-cost maintenance of projectors.


Based on Vertical


Based on vertical segmentation, the laser projector market industry is divided into several sub-segments such as retail, media & entertainment, industrial, healthcare, education, and others. For its high adoption of RGB laser projectors in cinema and other applications, the media & entertainment segment is dominating the market.


Based on Region


Globally, the laser projector market analysis has been done for the five main geographies as Asia-Pacific, the Middle East & Africa, Europe, North America, and Central & South America. Among them, Asia-Pacific has dominated the laser projector market share for the demand for laser projectors in stadiums, amusement parks, and public places in emerging economies like Japan, China, and South Korea which increases the growth of the market.


Regional Analysis 


The global laser projector market is segmented into Asia-Pacific, North America, Europe, Central & South America, and the Middle East & Africa. Out of these regions, Asia-Pacific holds the largest market share for the demand for laser projectors in stadiums, amusement parks, and public places in emerging economies like Japan, China, and South Korea that increase the market’s growth. Technological innovations like 4K and 8K laser projections are fueling the laser projector market growth.


Moreover, North America is predicted to witness the fastest-growing global market for the growing awareness among consumers regarding the high brightness laser projectors. For a better learning experience in schools and universities, the adoption of laser projectors contributed to increasing the market growth in this region. 


Competitive Landscape


The prominent key players in the laser projector market trends are the following:



  • Panasonic Corporation (Japan)

  • Sony Corporation (Japan)

  • Seiko Epson Corporation (Japan)

  • Barco (Belgium)

  • NEC Display Solutions (US)

  • BenQ America Corp. (Taiwan)

  • LG Electronics (South Korea)

  • Xiaomi (China)

  • Delta Electronics, Inc. (Taiwan)

  • Optoma (Taiwan)

  • Ricoh (Japan)

  • Canon Inc. (Japan)

  • Christie Digital Systems USA, Inc. (US)

  • Dell (US)

  • Hitachi Digital Media Group (England)

  • FARO Technologies, Inc. (US)

  • LAP GmbH (Germany)

  • CASIO COMPUTER Co., LTD. (Japan)

  • ViewSonic Corporation (US)

  • Digital Projection, Inc. (US)

  • VAVA (US)

  • Eiki International, Inc. (US)

  • Production Resource Group LLC (US)

  • Kvant Lasers SRO (Slovakia)


Recent Developments



  • NEC Display Solutions introduced a technological innovation of LCD laser projectors in August 2019, in Europe, which is featured with a sealed optical engine. The PA703UL is one of the best laser projectors which needs low maintenance and reliable, high-performance projection and is suitable for various applications like corporate conferencing rooms, amusement parks, university auditoriums, museums, corporate conferencing rooms, and digital signage.

  • In August 2019, in Malaysia, Epson manufactured the world’s smallest 3LCD laser projectors EPSON EF-100B and EF-100W which can project footage up to 150 inches in size along with 2000 lumens of brightness.

  • In April 2019, Nebra launched the Nebra AnyBeam, a pico laser projector. For creating sharp images up to 150 inches in size this projector is built on Raspberry Pi with efficient, tiny, and affordable features.


Report Overview:


This global laser projector market research includes the Market Overview, COVID-19 analysis, Market Dynamics, Study Objectives, Segment Overview, Regional Analysis, Competitive Landscape, Recent developments, Segmentation Table, and FAQs. The market scenario includes this market drivers, restraints, challenges, and opportunities. This market forecast segments are resolution, vertical, illumination type, and region.

Segmentation Table


The segmentation of laser projector market trends is segmented into four types based on resolution, vertical, illumination type, and region.


By Illumination Type


Laser phosphor, hybrid, RGB laser, laser diode, and others are the few illumination types.


By Resolution


These are categorized into XGA (1024 x 768 pixels), WXGA (1280 x 800 pixels), HD (1920 x 1080 pixels), 4K (4096 x 2160 pixels), and others.


By Vertical


Retail, media & entertainment, healthcare, industrial, education, and others.


By Region


Asia-Pacific, the Middle East & Africa, Europe, North America, and Central & South America are the main geographies included in this market.



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Frequently Asked Questions (FAQ) :

The laser projector market is assessed to register 16.37% CAGR.

The laser projector market is expected to be worth USD 8.32 Bn by 2025.

By illumination type, the segments are laser phosphor, RGB laser, hybrid (laser and LED), laser diode, and others.

By vertical, the segments are retail, healthcare, industrial, media & entertainment, education, and others.

The regional segments profiled are North America, Asia-Pacific, Europe, the Middle East & Africa, and Central & South Americ