The global laser projector market is evaluated at US$1,197.994 million for the year 2020 and is projected to grow at a CAGR of 19.68% reaching the market size of US$4,213.138 million by the year 2027. A laser projector is the latest device that projects high-quality images and moving images with the help of laser beams. Laser beams of different colors varying in a specific interval of time are used for the creation high quality moving images on the screen. The low cost, high resolution, clarity, and efficiency offered by laser projectors over conventional bulb projectors, give the potential for the market growth of laser projectors. The wide usage of laser projectors in cinemas, enterprises, public places, and medical fields is driving the growth of the laser projector market. The high resolution and picture quality given by laser projectors are making its application in the defense and medical fields. The laser beams employed in the laser projectors also offer long-range projection increasing the demand for laser projectors in the defense field for mapping and regional analysis processes. The applications of laser projectors are widely employed in classrooms and board rooms for more easy and effective display of diagrams and charts. The low maintenance cost and user-friendly nature of laser projectors compared to conventional bulb projectors are also hiking the demand for laser projectors in the market.
The recent outbreak of the COVID pandemic has adversely affected the growth of the global laser projector market. The isolations and lockdowns imposed by international governments had halted the manufacturing unit and production plant of laser projectors. The stoppage of the production process of laser projectors during the COVID pandemic resulted in a drastic declination of the laser projector market. The isolations also made the people dependent on online streaming and OTT platforms for watching cinema and for other entertainment purposes resulting in the reduced usage of laser projectors, stunting the market growth of laser projectors. The lockdowns had blocked the gathering of people making a substantial negative impact on cinema halls and other entertainments. The adaption of manual classes and board meetings to online platforms also imposed a negative impact on the laser projector market. COVID pandemic had also tampered with the supply chain sector of the laser projector, making a declination on the global laser projector market.
Penetration of laser projectors in place of conventional projectors.
Laser projectors are being widely used as a replacement for conventional bulb projectors. The trend of the rising adaption of laser projectors in classrooms, boardrooms, theatres, and other entertainments is widely increased. The performance and quality features offered by laser projectors are raising the demand for laser projectors in the market. The introduction of high-quality IMAX theatres has also resulted in the growth of the laser projector market. According to the reports of an American media organization and MPA (Motion Pictures Association), there are approximately about 5,380+ screens located in the U.S. itself. The IMAX company is also providing its high-resolution display and services of cinematic experience for about 68 countries. The introduction of high-resolution IMAX and 4K cinematic experiences has also resulted in the growth and demand for laser projectors in the market. The more cost-effectiveness, high resolution, and visual experience provided by laser projectors over conventional projecting techniques are also boosting the market of laser projectors in the global market.
Rising demand for laser projectors in the medical, defense, and commercial sector.
Laser projectors are employed for a wide range of applications in the medical field. Laser projectors are used for the miniature projection of internal images of the body during surgical purposes. The high quality and high-resolution images are given by laser projectors are driving the usage and market of laser projectors in the medical field. The user-friendly nature and flexibility ensured by laser projectors make laser projectors adaptive for purposes in the medical field. The long-range projection capacity of high-quality pictures is rising with the use of laser projectors in the defense field. The mapping of regional and geographical areas is displayed efficiently by using laser projectors. The lower maintenance cost, more performance, and durability offered by laser projectors are also boosting the demand for laser projectors in the commercial sector.
The Asia Pacific holds a significant market share.
Geographically, Asia Pacific is the region having a significant market share in the laser projector market. The developments in the field of the education sector into online platforms and projected classes are one of the factors making the growth of laser projectors in the Asia Pacific region. The presence of major players and company giants in the field of laser projectors and media technology like SONY, Panasonic, etc., are also giving potential for the market growth of laser projectors in the Asia Pacific.
|Market size value in 2020||US$1197.994 million|
|Market size value in 2027||US$4,213.138 million|
|Growth Rate||CAGR of 19.68% from 2020 to 2027|
|Forecast Unit (Value)||USD Million|
|Segments covered||Product Type, Resolution Type, Illumination Type, End-Use Industry, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Panasonic Corporation, SONY Corporation, NEC Display solutions, Hitachi Digital Media Group, EPSON, Barco, Delta Electronics, Viewsonic Corporation, Optoma, Ricoh Company|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the laser projector market size by 2027?
A1. The global laser projector market is projected to reach a total market size of US$4,213.138 million in 2027.
Q2. What are the growth prospects for the laser projector market?
A2. The laser projector market is projected to grow at a CAGR of 19.68% during the forecast period.
Q3. What is the size of the global laser projector market?
A3. Laser Projector Market was valued at US$1197.994 million in 2020.
Q4. Which region holds the largest market share in the laser projector market?
A4. Geographically, Asia Pacific is the region having a significant market share in the laser projector market.
Q5. What factors are anticipated to drive the laser projector market growth?
A5. The wide usage of laser projectors in cinemas, enterprises, public places, and medical fields is driving the growth of the laser projector market.
Hitachi Digital Media Group
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