Summary:

A new study title “Laser Projector market size, status and forecast 2027” has been featured on market research future.

Market Overview:
In 2018, the global laser projector market size is registered as USD 2.93 billion and is expected to reach USD 8.32 billion and exhibit a significant growth of 16.37% CAGR during the forecast period.

Laser projectors are solid-state illumination devices. These devices use lasers to generate light and produce an image on the screen. These laser projectors are having various benefits like lower maintenance, long-lasting brightness, fast and stable projection with a high repetition rate, optimized for 2D and 3D objects, improved color, and contrast compared to lamp-based projectors. Hence these are replaced the lamp-based projectors in various applications like commercial, industrial, and residential spaces for their better efficiency, and durability. These projectors can be easily turned off because it does not contains the lamp in it. Apart, these are suitable for heavy use and all-day use applications for their significant approximate life of 20,000 hours.

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Key Players:
The key players in the laser projector market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are Sony Corporation (Japan), Seiko Epson Corporation (Japan), NEC Display Solutions (US), BenQ America Corp. (Taiwan), LG Electronics (South Korea), Ricoh (Japan), Canon Inc. (Japan), Panasonic Corporation (Japan), Barco (Belgium), Christie Digital Systems USA, Inc. (US), Dell (US), Hitachi Digital Media Group (England), Xiaomi (China), Delta Electronics, Inc. (Taiwan), and Optoma (Taiwan). The companies are focused on innovating in their existing product portfolio as well as develop new products by investing in research and development to keep up with the changing market trends.

Segments:
The laser projector market is globally segmented into four types, based on resolution, illumination type, vertical, and region.

Based on Illumination Type

The laser projector market based on illumination is segmented into several sub-segments such as laser diode, hybrid, RGB laser, laser phosphor, and others. Among them, laser phosphor leads the market for its better illumination, it is preferable for various applications like museums, educational events, and movie theaters.

Based on Resolution

Based on the resolution, the global laser projector market has been divided into various types as HD (1920 x 1080 pixels), XGA (1024 x 768 pixels), 4K (4096 x 2160 pixels), WXGA (1280 x 800 pixels), and others. Out of these resolutions, the HD segment holds the largest market share owing to its low-cost maintenance of projectors.

Based on Vertical

Based on vertical segmentation, the laser projector market industry is divided into several sub-segments such as retail, media & entertainment, industrial, healthcare, education, and others. For its high adoption of RGB laser projectors in cinema and other applications, the media & entertainment segment is dominating the market.

Based on Region

Globally, the laser projector market analysis has been done for the five main geographies as Asia-Pacific, the Middle East & Africa, Europe, North America, and Central & South America. Among them, Asia-Pacific has dominated the laser projector market share for the demand for laser projectors in stadiums, amusement parks, and public places in emerging economies like Japan, China, and South Korea which increases the growth of the market.

Regional Analysis:
The market for laser projector is estimated to witness significant growth during the forecast period from 2019 to 2025. The geographic analysis of laser projector market has been done for North America, Europe, Asia-Pacific, the Middle East & Africa, and Central & South America. According to MRFR analysis, Asia-Pacific dominated the laser projector market in 2018 and is expected to maintain its dominance during the forecast period. Several factors such as demand for laser projectors in commercial and industrial spaces and rapid adoption of laser projectors in education and media and entertainment segments is fuelling the growth of the laser projector market in this region. Europe is the second dominating region contributing to the growth of the global laser projector market. Companies such as Barco, NEC, and LG among others are developing projectors to attract the customers, thus, contributing to the growth of the European region. However, North American is estimated to witness the fastest growth among all other regions. The educational and government sector of the US is one of the earliest adopters of laser projectors for conferences, seminars, and other applications. Furthermore, this region is expected to witness a major adoption of laser projectors for residential applications. Thus, the aforementioned factors are expected to accelerate the growth of the North American market in the coming years.

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