The laser projection market, the overall market is estimated to be
worth USD 4.57 billion in 2018 and is expected to reach USD 10.53
billion by 2023, at a CAGR of 18.2% between 2018 and 2023. Significant
advantages of laser projectors over traditional lamp projectors and
increasing adoption of laser projection technology for various
applications are the major drivers for the growth of the laser
projection market.
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This report segments the laser projection market by
product type, illumination type, resolution, vertical, and region. The
laser projection market, by product type, has been segmented into laser
projector and CAD laser projection system. The market for laser
projector is expected to grow at the highest CAGR between 2018 and 2023.
Demand for laser projectors is increasing owing to their low
maintenance cost, less power consumption, and high picture quality.
Demand for high-brightness laser projectors in cinema and the increasing
number of digital cinema screens in many countries drive the adoption
of laser projectors. Major companies offering laser projectors are Epson
(Japan), Barco (Belgium), Panasonic (Japan), Sony (Japan), and NEC
Display Solutions (Japan), among others.
The laser projection market, by illumination type,
has been segmented into laser phosphor, hybrid, RGB laser, and laser
diode. The market for laser phosphor projector is expected to grow at
the highest CAGR during the forecast period. Laser phosphor projectors
have ~15,000–25,000 lumens, with an estimated lifetime of 30,000 hours
to 50%. The primary advantage of a laser phosphor projector is the long
lifetime (~30,000 hours before it reaches 50% brightness). The long life
and low maintenance cost of laser phosphor projectors make them ideal
for high-use settings, such hospitality events, museums, education,
government departments, large venues, and movie theaters.
The laser projection market, by resolution, has been
segmented into WUXGA, WQXGA, and 2K; 4K; XGA and WXGA; HD and Full HD;
and others. The market for 4K laser projector is expected to grow at a
high rate during the forecast period. Demand for 4K laser projectors is
growing due to the increasing demand for high-brightness,
high-image-quality projectors for various applications. 4K projectors
are most commonly known as ultrahigh-definition projectors that offer
high pixel resolution. With higher resolution, the price of projectors
also increases. These projectors are used in various applications, such
as movie theaters, large venues, museums, auditoriums, and classrooms.
The laser projection market, by vertical, has been
segmented into enterprise, public places, cinema, education, retail,
medical, and industrial. Enterprise is expected to lead the laser
projection market. Public organizations and government bodies use laser
projectors for briefing and providing people ancillary information at
meetings. Laser projectors are widely used for presentations as they
produce high-quality images required for graphs, bar charts, etc., for
better understanding. With the help of laser projectors, business
professionals can project concise data with charts and figures in a
digital format, thereby helping the management draw a clear picture of
the presentation.
The laser projection market, by vertical, has been
segmented into enterprise, public places, cinema, education, retail,
medical, and industrial. Enterprise is expected to lead the laser
projection market. Public organizations and government bodies use laser
projectors for briefing and providing people ancillary information at
meetings. Laser projectors are widely used for presentations as they
produce high-quality images required for graphs, bar charts, etc., for
better understanding. With the help of laser projectors, business
professionals can project concise data with charts and figures in a
digital format, thereby helping the management draw a clear picture of
the presentation.
APAC is expected to dominate the laser projection
market. APAC is the leading laser projection market for education and
cinema segments, with major demand driven by countries such as China and
India. APAC is expected to provide ample opportunities for the laser
projection market growth during the forecast period due to increasing
consumer awareness about high-brightness laser projectors, increased
government spending from emerging economies on the education sector, and
the development of the education sector to provide smart education to
students. Also, the increasing number of cinema screens and rising
penetration of laser projectors in cinema drive the growth of the laser
projection market.
High initial cost of laser projectors for higher lumen restrains the growth of the market.
Key players in this market include Panasonic (Japan),
Sony (Japan), Epson (Japan), Barco (Belgium), NEC Display Solutions
(Japan), BenQ (Taiwan), Casio (Japan), Optoma (US), Delta Electronics
(Taiwan), and Ricoh Company (Japan).
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Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
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