Projectors Global Market Report 2024

A projector is a device that utilizes light to project images or videos onto a flat surface, such as a screen or wall, for large-scale viewing. Projectors find widespread use in commercial applications.

Projectors are classified into various types, such as home theatre projectors, business projectors, and portable projectors. Home theatre projectors are devices used to project video content in home theatre or living room environments. They employ technologies such as DLP (digital light processing), LCD (liquid crystal display), and LCOS (liquid crystal on silicon), offering dimensions such as 2D and 3D. These projectors are distributed through channels such as hypermarkets, electronic malls, specialty stores, online retail, and others, catering to applications in business, education, home, cinema, and more.

The projectors market research report is one of a series of new reports from The Business Research Company that provides projectors market statistics, including projectors industry global market size, regional shares, competitors with a projectors market share, detailed projectors market segments, market trends, and opportunities, and any further data you may need to thrive in the projectors industry. This projectors market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The projectors market size has grown strongly in recent years. It will grow from $10.68 billion in 2023 to $11.33 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth observed in the historic period can be attributed to various factors, including the utilization of projectors for business presentations and education, investments by the corporate sector, the demand for home entertainment systems, the usage in government and public sectors, and upgrades in cinema projection technology.

The projectors market size is expected to see strong growth in the next few years. It will grow to $14.02 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The anticipated growth in the forecast period can be ascribed to the increasing prevalence of home office setups, advancements in laser projection technology, the expanding domains of gaming and entertainment, the rise of hybrid meetings and collaboration, and the resurgence of outdoor events and large gatherings. Key trends expected in the forecast period encompass the adoption of education technology (EdTech), continuous technological advancements, the growth of digital signage, the prominence of laser projection technology, and the rapid evolution of LED technology.

The surge in demand for projector screens within the educational sector is propelling the growth of the projector market. Educational institutions employ advanced teaching techniques to enhance the learning experience for students, with projectors playing a pivotal role in projecting presentation content on larger, clearer displays. For instance, a report by eLearning Industry in January 2022 highlighted that the eLearning industry had surpassed $240 billion, and it is projected to further increase to $374 billion by 2026. Consequently, the increasing demand for projector screens in educational settings is a key driver for the growth of the projector market.

Anticipated growth in the demand for electronic devices is expected to contribute significantly to the expansion of the projector market in the years to come. Consumer electronics encompass personal-use electronic devices such as smartphones, laptops, tablets, gaming consoles, and televisions. Projectors are utilized in consumer electronic devices to extend display capabilities, facilitating larger-screen viewing for entertainment, presentations, gaming, or sharing content from devices on more substantial surfaces, thereby enhancing the visual experience. In May 2023, the Japan Electronics and Information Technology Industries Association reported that total electronic equipment production in Japan reached $52,365,535 million (¥771,457 million), with consumer electronics production reaching $2,178,430 million (¥32,099 million). This marked an increase from $1,714,724 million (¥25,268 million) in May 2022. Consequently, the rising demand for electronic devices is a significant factor driving the growth of the projector market.

Technological advancement stands out as a significant trend gaining traction in the projectors market, with major players dedicating efforts to innovative technologies. A noteworthy shift in consumer preferences has been witnessed, with a focus on Home theatre projectors becoming one of the most favored categories. The surge in demand for home theatre setups, driven by the necessity to stay indoors, has made this category increasingly suitable and comfortable for consumers. In November 2022, ViewSonic, a US-based company specializing in projectors, launched two new projectors featuring third-generation LED technology for brighter visuals and a built-in Harman Kardon speaker, enhancing the audio experience for home movie screenings and video games.

Prominent companies in the projector market are directing their attention towards innovative solutions such as smart window projectors, aiming to elevate user interactivity and integrate seamlessly with digital platforms for presentations and collaborations. A smart window projector combines window functionality with built-in projection capabilities for display and interactive purposes. For example, in November 2022, BenQ, a Taiwan-based consumer electronics company, introduced the Smart Projector EH620, the world's first Windows-oriented projector designed for corporate settings. This cutting-edge device leverages Intel 4000 series CPU technology to integrate advanced applications and security protocols seamlessly. The EH620 ensures heightened protection through features such as single sign-on, multi-factor authentication, and conditional access, along with AES 128-bit encryption and WPA2 wireless security to guard against cyber threats. Its implementation of Intel Secure Boot further strengthens defense mechanisms against potential malware risks.

In August 2021, BenQ collaborated with Fly Elise-ng, a Netherlands-based software company specializing in multi-projector designs. This collaboration enhances consultancy and integration possibilities for both companies in the realm of multi-projector systems, offering improved solutions to meet evolving market demands.

Major companies operating in the projectors market report are Mitsubishi Electric Corporation, BenQ Corporation, Dell Technologies Inc., Sony Group Corporation, Hitachi Ltd., LG Technologies Inc., Panasonic Corp., Lenovo Group Ltd., Canon Inc., Sharp Corporation, Fujifilm Holdings Corporation, Texas Instruments Inc., ZTE Corporation, ASUSTeK Computer Inc., Ricoh Company Ltd., GAC Technology Group, Acer Inc., Delta Electronics Inc., Seiko Epson Corporation, JVCKENWOOD Corporation, ViewSonic Corporation, NEC Display Solutions Ltd., InFocus Corporation, Honghe Technology Co. Ltd., Optoma Technology Corp., Airtame Inc., EIKI International Inc., Vivitek Corporation, Celluon Inc., MicroVision Inc., Maxell Ltd., Aaxa Technologies Inc., Christie Digital Systems USA Inc., Digital Projection

North America was the largest region in the Projectors market in 2023. The regions covered in the projectors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the projectors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The projector market consists of sales of laser projectors and LED projectors. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Projectors Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on projectors market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for projectors ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The projectors market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Type: HomeTheater Projector; Business Projector; Portable Projector
• 2) By Technology: DLP(Digital Light Processing); LCD(Liquid Crystal Display); LCOS (Liquid Crystal on Silicon)
• 3) By Dimension: 2D;3D
• 4) By Distribution Channel: Hypermarkets; Electronic Malls; Specialty Stores; Online Retail; Other Distribution Channels
• 5) By Application: Business, Education; Home, Cinema; Other Applications
• Companies Mentioned: Mitsubishi Electric Corporation; BenQ Corporation; Dell Technologies Inc.; Sony Group Corporation; Hitachi Ltd.
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.