Smart Home Projector Market Size, Share, Opportunities, And Trends By Type (LED Light Source, Laser Light Source), By Technology (DLP, LCD, LED, Others), By Sales Channel (Online, Offline), And By Geography - Forecasts From 2023 To 2028
- Published : May 2023
- Report Code : KSI061615432
- Pages : 144
A smart home projector, commonly referred to as just a smart projector too, is a portable device that modern display-based technologies with integrated functionalities. These devices offer connection facilities with smartphones, laptops, home networks, and content-providing services to give a seamless viewing experience to consumers. The smart home projector market can be classified by type, by technology, by sales channel, and by geographic region. By type, smart home projectors can be segmented into LED light sources and laser light sources. Several different factors need to be considered when choosing between LED and laser light source base smart projectors. The major drivers for the growth of this market include the increasing integration of projection technologies with smartphones and other consumer electronics and rising standards of living in urban areas.
The technological developments in the integration abilities of projectors and changes in lifestyles are positively impacting the market growth.
The developments in projection technologies and their integration abilities is a key driving factor for the growth of this industry. As projectors are becoming smarter and becoming more capable of seamless integration with consumer electronics such as mobile phones, laptops, and desktops, there is an increasing scope for the applications of these smart home projectors. The ease offered in connecting different source devices to projectors for its usage is encouraging consumers to purchase this product for different types of needs such as regular television watching, home theatre experiences, etc. The rise in online gaming culture is also contributing to the demand for smart projectors as passionate gamers tend to spend a lot of money on the devices needed for a better gaming experience, which includes purchasing smart projectors that can be connected to gaming consoles or computers to allow playing games on bigger screens, especially multiplayer games that can be played with friends or family. Another related factor is the growing urbanization and rising disposable incomes of people that allows them to spend money on recreational devices such as smart home projectors that improve their standards of living. Key businesses in this market have experienced positive effects on their revenues in recent times as a result of such efforts. For instance, according to their yearly reports, the Harman segment of Samsung, which involves the sale of audio and visual products like smart projectors, had an increase in revenue of over 24% from 2021 to 2022 and produced total revenues of roughly ?13,213,649 million in 2022.
High maintenance of projectors and cybersecurity risks are expected to restrain the industry's expansion.
A significant challenge faced by this industry relates to the high need for maintenance for a majority of smart home projectors compared to most modern LED/LCD televisions, which acts as a hindrance to the growth of the industry as it negatively impacts the demand for the product. Additionally, the introduction of large-sized televisions with the latest display features and smart capabilities has further hampered the growth of the industry as it has emerged as a substitute for smart projectors, requiring much less maintenance than most smart home projectors too. Another concern regarding smart home projectors relates to the additional cybersecurity risks of privacy and security associated with integrating these smart projector devices into home networks. This can leave consumers exposed to the threats of cyberattacks. This is another major factor that is restraining the growth of the smart home projectors market.
- In January 2023, LG Electronics announced the launch of its latest CineBeam Smart Portable Projector, designed to provide the feeling of a home theatre in any room. It is lightweight which makes it easier to carry to different rooms or places, provides high-quality display resolution, and offers integration facilities with smart electronics and streaming services.
- In March 2023, Seraphic Information Technology announced the launch of its new smart projector that provides support for all the big streaming services globally, as well as internet connectivity capability for web browsing.
- In October 2021, BenQ announced the launch of its new GV30 smart wireless portable projector, offering a greater projection angle along with increased connectivity capacity and longer battery life.
North American region is expected to hold a significant share of the smart home projector market.
North America is expected to constitute a significant market share and similar trends are expected to be followed in the forecast period. This market share is owed to the increase in demand for brighter and more power-efficient display options, and a large urban population with growing needs for recreational purposes and home upgrades. The Asia-Pacific region is also expected to experience fast growth due to developing economies and increased standards of living among urban populations as well as a trend of adoption of Western lifestyle standards. Some countries of this region such as China and India account for a considerable proportion of the world population, and as these countries are increasingly urbanized, the demand for luxury products such as smart home projectors will increase.
- BY TYPE
- LED Light Source
- Laser Light Source
- BY TECHNOLOGY
- BY SALES CHANNEL
- BY GEOGRAPHY
- North America
- South America
- United Kingdom
- Middle East And Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.7. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. SMART HOME PROJECTOR MARKET, BY TYPE
5.2. LED Light Source
5.3. Laser Light Source
6. SMART HOME PROJECTOR MARKET, BY TECHNOLOGY
7. SMART HOME PROJECTOR MARKET, BY SALES CHANNEL
8. SMART HOME PROJECTOR MARKET, BY GEOGRAPHY
8.2. North America
8.3. South America
8.4.3. United Kingdom
8.5. Middle East And Africa
8.5.1. Saudi Arabia
8.6. Asia Pacific
8.6.4. South Korea
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. COMPANY PROFILES
10.1. Samsung Electronics
10.2. Sony Corporation
10.3. ViewSonic Corporation
10.4. SERAPHIC Information Technology Co. Ltd.
10.5. Koninklijke Philips N.V
SERAPHIC Information Technology Co. Ltd.
Koninklijke Philips N.V
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