A projector or image projector is an optical device that projects an image (or moving images) onto a surface, commonly a projection screen. Most projection devices generate an image by illuminating a tiny clear lens; however, some modern projectors can directly project the picture using a laser. Ongoing fast digitization in the education industry might be responsible for the growth in market. In various nations, governments invest considerably to acquaint the education sector with the new technological gadgets. The projections for projectors are anticipated to increase the number of advanced learning techniques like distant learning, smart learning, mobile teaching, and electronic learning. The steady technical progress in the projectors has seen considerable market expansion. The outbreak of the COVID-19 pandemic had a negative effect on the projector market. The enforcement of lockdown by the government had restricted the consumers from moving out resulting in the complete closure of the corporate and educational sectors. Therefore, the demand for projectors has eventually decreased in these sectors.
COVID-19 Impact Analysis
- A negative effect on the projector market has been witnessed due to the COVID-19 pandemic. The demand for projectors decreased as consumers shifted their interest toward essential products. The halt in operation in schools and offices has reduced the requirement for projectors.
- As the COVID-19 pandemic forced countries to enforce lockdown, the supply and distribution chain was disrupted. The shifting of activities in operations and vendor operations impacted the production. Hypermarkets/supermarkets and convenience stores were closed, creating a gap in demand and supply.
- The production process for projectors has become a challenge for companies due to the limited availability of labor, disrupted raw material supply and logistic issue.
Top Impacting Factors
A screened imaging chip and filter-free chips are the primary driving reason for the digital light processing chipsets. DLP chips are used to eliminate the possibility of particulate dust coming into the projected image in most digital lights processor projectors. Furthermore, the DLP chips function without air filters, as the filter does not need to be cleaned, to decrease maintenance.
The digital light processing chipset market is projected to increase due to the recent DLP chip applications, such as LED Pico projectors, which can fit inside a human hand's palm and have the size of a mobile phone.
Market Trends
A Rise in Demand for the Consumer Electronics
- In emerging nations, such as India, China and others, an increased demand for consumer electronics has been witnesses. Factors like the growth of disposable income, changes in the middle class lifestyle and further public reforms are part of consumer electronics. Moreover, projectors' applications are expected to increase significantly during the forecast period in the consumer electronics category. The development of such applications in the future is anticipated to lead to the use of projectors. In future years, the number of smart phones and tablets is projected to rise, creating an opportunity for market expansion for projectors.
Technological Advancements in Portable Projectors
- Portable projectors are no longer over-sized, complicated, and hard to use gadgets with low quality and unexpected effects with technology advances. They are light weighted and easy to use for leisure, educational, and commercial applications. Modern mobile projection units can be connected to the internet, and memory devices are provided for storing important data. In addition, mobile projection systems come with handy USB, HDMI, and MHL connectors, require access to information & easy cell phones, laptops, and tablet connections. Portable projectors, for higher image quality with built-in speakers and battery, offer high-resolutions, e.g., high-definition and full-HD. They may be simply transported and fitted in the bags. Mobile projectors are available at low price, making them an economically viable alternative for home fun. It is mostly purchased based on its mobility, convenience and affordability characteristics. Today, companies provide high-quality portable 2D and 3D projectors with lower emissions and reduced power consumption. In the future years, such features are expected to certainly speed up sales of such appliances.
Key Benefits of the Report
- This study presents the analytical depiction of the projector industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the projector market share.
- The current market is quantitatively analyzed to highlight the projector market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed projector market analysis on the basis of competitive intensity and how the competition will take shape in coming years
Questions Answered in the Projector Market Research Report
- Which are the leading players active in the projector market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What future projections would help in taking further strategic steps?
Projector Market Report Highlights
| Aspects | Details |
 By Type |
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 By Technology |
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 By Dimension |
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 By Lumen |
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 By Resolution |
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 By Application |
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 By Distribution Channel |
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 By Region |
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 Key Market Players | LG Technologies, Inc, Sony Group Corporation., Lenovo Group Limited, Texas Instruments, Inc, ZTE Corporatio, MicroVision, Inc., Optoma Technology Corp, The Ricoh Company, Ltd, Celluon, Inc, Aaxa Technologies, Inc. |
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