The laser projection market was
valued at USD 3.15 billion in 2017 and is expected to reach USD 10.53
billion by 2023, at a CAGR of 18.2% during the forecast period. The base
year considered for the study is 2017, and the forecast period
considered is 2018–2023. The objective of the report is to provide a
detailed analysis of the laser projection market based on product type,
illumination type, resolution, vertical, and region. The report
forecasts the market size, in terms of value, for various segments with
regard to 4 main regions North America, Europe, APAC, and RoW. It
strategically profiles the key players and comprehensively analyzes
their rankings and core competencies in the laser projection market, and
details the competitive landscape for market leaders.
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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.
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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