Smart Home Projector Market Expected to grow USD 2,100.86 Million at a CAGR 17.7% during the forecast 2022-2030
The global Smart Home Projector market was valued at USD 1,809.53 million in 2020 and is expected to grow at a CAGR of 17.7 % during the forecasted period.
A smart home projector is usually a portable device that combines the latest display technologies with smart integrated functionality. The latest generation will connect with mobile devices, home networks, and content services for a seamless viewing experience. And you’d be amazed at what the right projector will do for your viewing experience. Increased trends of playing video games in king size, enjoying the theatre experience at home, and seasonal decorations are some of the major factors fueling the projector’s adoption.
Various factors driving the smart home projector market include integration of projection technologies with mobile devices, increasing disposable income of an individual coupled with changing lifestyle, and increasing trends of playing video games in king size, enjoying theatre experience at home, and seasonal decorations. However, The introduction of large-size TVs poses major barriers to the projectors market. Moreover, emerging economies are expected to open lucrative opportunities for the market and the introduction of high-resolution projectors provide growth opportunities to the market players.
World trade is expected to witness a significant decline due to the pandemic as it disrupts regular economic activity and life around the world. The inevitable decline in trade, production, and output will lead to painful consequences for businesses, on top of the human suffering caused by the disease itself. The restrictions on the movement of people and goods and promoting social distancing due to the lockdown restrictions due to COVID-19 concerns have affected the transport, travel, and labor supply across the globe in recent months. The pandemic has created considerable challenges to the health and safety of individuals, thus causing disruptions in supply chain operations. Lockdowns in numerous countries across the globe have led to a steep decline in demand and supply for Smart Home Projectors, primarily due to the shutting down of manufacturing plants and restrictions over public gatherings and tourism activities, which significantly boosts the cosmetics industry. Moreover, consumers have also reduced their expenditures extensively due to the pandemic. This is primarily due to the lockdowns and secondarily due to reduced job security, unemployment, and pay cuts. However, the demand for Smart Home Projectors decreased during the lockdown. However, the smart home projector market is expected to consolidate in the coming years, owing to its benefits.
A projector and screen can conjure up more than just visual effects. Projectors are especially useful in the gaming section and business meeting rooms, as well as well-suited for personal use. Projectors have been prominent in home theatres when electronics firms created models that are more lightweight and portable. Video games have historically been divisive, with supporters and detractors alike. Recently, video gaming has seen a significant increase in gamers and revenue, and the increased use of projectors for gaming is likely to drive the market.
Many high-resolution projector owners opt to project onto specially-made screens or white-painted walls for exceptional quality, but that is not strictly necessary. Small projectors have a margin because of larger screen sizes. Because larger letters are easier to read, users do not need to strain their eyes to view a larger screen than a smaller one. High-resolution projectors feel more comfortable and easier when looking at projected images. Henceforth, introducing high-resolution projectors creates an opportunity for the smart home projector market.
The majority of projectors necessitate maintenance that flatscreen and conventional televisions do not. All projectors use lights that must be updated regularly. As a result, the introduction of large-size TVs hampered the growth of the smart home projectors market
Value Chain Analysis
The smart home projector market is growing and is expected to witness significant growth soon. Smart home projector solutions are being rapidly adopted in the commercial and residential sectors, as well as a part of smart city initiatives, as they offer high energy efficiency and control of the lights with smart functionality. The value chain analysis of the smart home projector market comprises five major levels: hardware/component manufacturers, software developers, system integrators/service providers, distribution channels, and end users.
The global Smart Home Projector market has been segmented on the basis of type, resolution, technology, pricing, sales channel and region
The global Smart Home Projector market, based on type, has been segmented into Android Smart Home Projector and Linux Smart Home Projector. The Android Smart Home Projector segment dominated the market share in 2021, and is projected to witness a growth rate of CAGR 17.8% during the anticipated time frame.
The global Smart Home Projector market, based on resolution, has been segmented into XGA (1024 x 768 pixels), WXGA (1280 x 800 pixels), HD (1920 x 1080 pixels), 4K (4096 x 2160 pixels), 8K (7680 × 4320 pixels) and Others.
The global Smart Home Projector market, based on technology, has been segmented into DLP, LCD, LED, LCoS, and Others.
On the basis of pricing the market has been bifurcated into low-end, mid-end, and high-end.
Based on sales channels the market has been segmented into online and offline.
The global Smart Home Projector market has been studied across Asia-Pacific, North America, Europe, the Middle East & Africa, and South America.
North America accounted for the largest market share in 2021. The region is anticipated to witness considerable growth due to the increasing demand for brighter and more power-efficient display panels and the adoption rate of smart home projectors in premium smartphones.
Asia-Pacific is the fastest-growing region. The region holds significant potential for adopting smart home projector-based solutions due to developments in residential infrastructure. The region has been segmented, by country, into China, Japan, India, and the rest of Asia-Pacific. China is expected to dominate the market and register the highest CAGR during the forecast period.
The global market for fuel cards is projected to witness healthy growth during the forecast period, owing to the integration of projection technologies with mobile devices, and the increasing disposable income of individuals coupled with changing lifestyles. The global market represents strong numbers in terms of consumption.
Key players operating in the global Smart Home Projector market include Sony Corporation (Japan), Samsung Electronics (South Korea), Koninklijke Philips N.V.(Netherlands), LG Electronics (South Korea), Lenovo (Hong Kong), JVCKENWOOD (Japan), Seiko Epson (Japan), Panasonic Corporation (Japan), XGIMI Technology Co. (China), Optoma (China), AAO Projectors (Japan), Vivitek Corporation (Taiwan), BenQ (Taiwan), and Acer Inc. (Taiwan),
LG Electronics Inc. upgraded the home cinema experience CineBeam 4K laser projector models HU715Q and HU710P. The new LG HU715Q Ultra Short Throw (UST) features sophisticated technologies such as auto-brightness and the ability to create a 100-inch image1 when placed only 21.7 centimeters from the wall, delivering stellar picture quality in a flexible, space-conscious design. The LG HU710P delivers brighter images and deeper blacks courtesy of a wheel-less hybrid laser. On February 2022
Philips unveiled the Screeneo U4, a new ultra-short-throw projector. The device boasts AI technology, such as autofocus and low latency for gaming. The website suggests other use cases for the gadget could be business meetings, watching TV, or following video recipes in the kitchen. On February 2022
XGIMI has launched the Halo+ projector in India. It has a powerful built-in battery, 1080p FHD, and the world's smartest screen adaption technology. Halo+ delivers the premier visual experience the user need when going places. On November 2021
Lenovo launched a new smart projector domiciled in the mid-range segment. The product is dubbed Lenovo Smart Projector T500. It adopts a compact size but delivers high-definition resolution and ultra-high brightness. On September 2021
Sony Electronics Inc. announced two new native 4K (4096 x 2160) home cinema projectors powered by "X1™ for projector". This powerful picture processor based on technology used for Sony's BRAVIA TV series has now been optimized for projectors. The new VPL-VW1025ES model and VPL-VW325ES model will replace the VPL-VW995ES and VPL-VW295ES, respectively. On April 2021
As per MRFR, the global Smart Home Projector market has been growing significantly over the past few years. The global Smart Home Projector market has been segmented on the basis of type, resolution, technology, pricing, sales channel, and region. Based on region, the Smart Home Projector market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
The scope of the global Smart Home Projector market study includes the market size analysis and a detailed analysis of the vendor’s products and strategies. The global Smart Home Projector market has been segmented on the basis of type, resolution, technology, pricing, sales channel, and region.
|Market Size||2021: USD 2,100.86 Million|
|CAGR||17.7 % CAGR|
|Historical Data||Value (U 2019 and 2020SD Million)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, resolution, technology, pricing, sales channel, and region.|
|Geographies Covered||North America, Europe, Asia-Pacific, Middle East & Africa, and South America|
|Key Vendors||Sony Corporation (Japan), Samsung Electronics (South Korea), Koninklijke Philips N.V.(Netherlands)|
|Key Market Opportunities||Emerging economies are expected to open lucrative opportunities for the market|
|Key Market Drivers||Integration of projection technologies with mobile devices Increasing disposable income of individuals coupled with changing lifestyle Increased trends of playing video games in king size to enjoy the theatre experience at home and seasonal decorations|
The global Smart Home Projector market has been growing rapidly over the past few decades and is expected to grow, at a CAGR of 17.7% during the forecast period.
Sony Corporation (Japan), Samsung Electronics (South Korea), Koninklijke Philips N.V.(Netherlands) are expected to be the major competitors in the Smart Home Projector market during the projected period.
The android smart home projector segment is expected to drive the market during the forecasted period.
The North American region is expected to be the largest market for Smart Home Projectors market during the forecast period.
The introduction of large size TV may slow the growth of the Smart Home Projector market during the forecast period.