Smartphone proliferation is the key factor expected to fuel the global pico projector market size over the forecast period. The high convenience offered by these products when integrated with portable devices such as a tablet, phones and laptops are expected to contribute favorably towards future growth.
Reduction in average selling price of these products is anticipated to impel demand. Technological advancements have resulted in better contrast ratio along with high pixel quality. Portability and increasing application areas may also catapult growth.
Several benefits including watch and share videos, pictures, documents and presentations anytime and anywhere are expected to elevate product demand over the foreseeable future. Development of products compatible with Wi-Fi, WiMax, and 3G/4G technologies is also anticipated to catalyze growth. The emergence of Internet of Things (IoT) coupled with growing popularity of smart devices may offer avenues for industry growth.
Developments including product miniaturization and lesser weight result in increasing portability and demand. Its integration with wearable electronics is also estimated to increase gaming experience, which may also impel pico projector market demand.
U.S. pico projector market by product, 2012 - 2022 (USD Million)
Embedded projectors are expected to represent highest revenue share over the forecast period owing to smartphone proliferation. The introduction of new smartphones with virtual keyboards paired with penetration of BYOD offer several growth opportunities. Its use as Head-up Display (HUD) in the automobile is also expected to increase demand. These devices are also used in wearable electronics in order to raise gaming experience.
Standalone pico projector market is expected to lose slowly share to laser and embedded products over the next seven years owing to growing need for mobility across all the sectors. Such products are more prominently used in education sectors. Laser projector, still in the development stage, is expected to increase image quality, which may fuel demand.
Digital Light Processing (DLP) and Liquid Crystal on Silicon (LCoS) are mainstream technologies used in devices. Technological advancement has resulted in high contrast, quality and focused images as compared to conventional display sources. Texas Instruments developed DLP technology, which is characterized by and has gained popularity for its compact size.
Laser Beam Steering (LBS) is expected to exhibit substantial growth owing to its integration with smartphones and tablets. This technology may provide better quality display than DLP and LCoS.
Prominent end-use applications include consumer electronics, aerospace & defense, healthcare, and education. Consumer electronics is expected to be dominant segment owing to widespread usage in smartphones and other wearable gadgets.
The Recent introduction of Smart Cast by Lenovo have several intuitive features such as infrared motion detector, built-in laser projector, and high-performance algorithms. These features project large virtual touch screen onto screens and tables. Education institutions use these products to make the classroom training of students better and intuitive. Growing trend of providing high-end education and training in several high schools and colleges may spur demand over the forecast period.
In the healthcare sector, these devices are used for better patient management such as sharing patient’s data across departments in the hospital with their device. They are also used in the business sector in order to deliver a presentation in meetings.
North America pico projector market is the leading region and exhibits low entry barriers since smartphone manufacturers try to find cost effective products to embed in their devices. The European industry is expected to be driven by increasing adoption of Bring Your Own Device (BYOD) policies in corporate and growing demand for high image quality.
High adoption of smartphones, tablets, and laptops in Asia Pacific over the forecast period is a key factor expected to contribute towards future demand. Smartphone sales in these markets are largely driven by replacement sales.
Competitive Market Share Insights
Prominent industry players include AAXA Technology, Acer Inc, Microvision Inc., Optoma Inc., Samsung Electronics, and Sony Corporation. The industry is characterized by intense competition where players are competing on the basis of technology. These devices are price sensitive, and players are focused on cost cutting in order to gain profitability.
Grand View Research offers special pricing for:
Get your queries resolved from an industry expert. Request for a free product review before report purchase.
Speak to the report author to design an exclusive study to serve your research needs.
A testimonial for service excellence represented in the form of BBB "A" Accreditation.
Your personal and confidential information is safe and secure.