According to the research report on "Laser Projection Market by Product Type (Laser Projector and CAD Laser Projection System), Illumination Type (Laser Phosphor, Hybrid, RGB Laser, Laser Diode), Vertical (Enterprise, Public Places, Cinema, Education), and Geography - Global Forecast to 2023", 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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Opportunity: Rising demand for high-brightness projectors
Laser projectors are used in various applications depending on the brightness and picture quality requirements. Laser projectors use a laser light source to project the image on the screen, and have a longer lifespan than lamp projectors. Laser light source also maintains its brightness, so the picture quality remains more consistent over the life of the projector. Major companies offering high-brightness laser projectors are Epson, Panasonic, Canon, and Sony, among others. In February 2018, Sony Professional Solutions Europe expanded its product portfolio by launching 5 new laser projectors with high brightness installation projector at ISE. These projectors are used in large venues, exhibitions, museums, midsized school or meeting rooms, auditoriums, and conference halls, among others. Most laser phosphor projectors are rated for 20,000 hours of use until they reach 50% brightness, whereas lamp-based projectors are usually rated for 2,000–3,000 hours of use until 50% brightness.
Challenge: Operational challenges for low-end models
Operational challenges such as rainbow effect and light leakage during projection are likely to affect the growth of the laser projection market. These issues are prominent in low-end models and 1-chip DLP laser projectors. This provides an advantage for projectors based on other technologies, which can be used in applications such as education and business.
The rainbow effect occurs whenever there is a fast movement of images on the screen, or in case of rapid eye movement by the viewer while observing the image from one end of the screen to the other. The rainbow effect may cause a headache or other discomfort to the viewer. In addition to the rainbow effect, light leakage can create a gray bar on the projected image and spoil the projected image.
APAC expected to hold major share of laser projection market during 2018–2023
Asia Pacific is expected to hold the largest share of the laser projection market during the forecast period. In APAC, China is expected to be the major contributor to the laser projection market between 2018 and 2023. 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.
Panasonic Corporation (Japan), Sony Corporation (Japan), Seiko Epson Corporation (Japan), Barco NV (Belgium), NEC Display Solutions (Japan), BenQ Corporation (Taiwan), Casio Computer Co., Ltd. (Japan), Optoma Corporation (Taiwan), The Ricoh Company, Ltd. (Japan), and Delta Electronics Industry Co., Ltd. (Taiwan) are the major players in the laser projection market. The report also includes the profiles of companies such as Canon Inc. (Japan), Christie Digital Systems (US), Digital Projection (UK), Dell (US), FARO Technologies, Inc. (US), Hitachi Digital Media Group (UK), LAP GmbH Laser Applikationen (Germany), ViewSonic Corporation (US), and Xiaomi Inc. (China).
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