Laser Projector Market to Reach Valuation of USD 8.32 Billion By 2025, Growing at a 16.37% CAGR - Report by Market Research Future (MRFR)

New York, US, June 23, 2021 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Global Laser Projector Market - Information by Illumination Type, Resolution and Region - Forecast till 2025” the market was valued at USD 2.93 billion in 2018; it is expected to reach USD 8.32 Billion by 2025 with CAGR of 16.37%..

Market Scope:
As manufacturing sectors continue to move towards increased automation, improvements in software and automation solutions are being leveraged to meet training needs. Moreover, shortage of skilled labor, limits on working hours, and increasing labor costs encourage manufacturing companies worldwide to add training for quality control and tolerances.

Therefore, the Laser projector market share is projected to escalate further during the forecast period. The rising commercial demand for advanced compact-size laser projectors increases the market size. Besides, rapid technological advancements and emerging needs for smaller factory footprints, alongside increasing space constraints, boost laser projector market revenues.

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Dominant Key Players on Laser Projector market covered are:

  • Sony Corporation (Japan)
  • Panasonic Corporation (Japan)
  • Seiko Epson Corporation (Japan)
  • NEC Display Solutions (US)
  • Barco (Belgium)
  • BenQ America Corp. (Taiwan)
  • Xiaomi (China)
  • LG Electronics (South Korea)
  • Delta Electronics Inc. (Taiwan)
  • Ricoh (Japan)
  • Optoma (Taiwan)
  • Canon Inc. (Japan)
  • Dell (US)
  • Christie Digital Systems USA Inc. (US)
  • LAP GmbH (Germany)
  • FARO Technologies Inc. (US)
  • CASIO Computer Co. Ltd. (Japan)
  • Digital Projection Inc. (US)
  • ViewSonic Corporation (US)
  • VAVA (US)
  • Production Resource Group LLC (US)
  • Eiki International Inc. (US)
  • Kvant Lasers SRO (Slovakia)
  • Hitachi Digital Media Group (England)

Browse In-depth Market Research Report (111 Pages) on Laser Projector:

Market USP exclusively encompassed:
Market Drivers
The laser projector market outlook looks extremely promising. The market is vastly driven by the rising uses of these projectors in the media and entertainment sectors. The laser projector industry has always been subject to technological upgrades, and more advances are estimated to come in to meet the rising customer demands for efficiency gains.

Rapid advancements in technology over recent years have led most educational institutions to switch to virtual and e-learning methodologies, driving the laser projector market growth hugely. Moreover, extensive uses of laser projectors in the education and healthcare sectors positively influence market growth.

Even during the COVID-19 crises, laser projector market revenues remained reassuringly robust. The laser projector market is vastly dynamic and constantly changing, compared to the pre-pandemic era. The ability to respond to market changes would become more important than ever in post-pandemic periods.

The pandemic-driven lockdown challenges fostered many laser projector market trends, including production trends such as robotics, networked machines, and analytics. There is a vast demand for new technologies, which would support the laser projector market to grow steadily over the next few years.

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Segmentation of Market covered in the research:
The laser projector market analysis is segmented into illumination type, resolution, vertical, and region. The illumination type segment is subs-segmented into laser phosphor, hybrid, RGB laser, laser diode, and others.

The resolution segment is subs-segmented into XGA (1024 x 768 pixels), WXGA (1280 x 800 pixels), 4K (4096 x 2160 pixels), HD (1920 x 1080 pixels), and others. The vertica segment is subs-segmented into retail, media & entertainment, healthcare, education, industrial, and others. The region segment is sub-segmented into the Americas, Europe, APAC, and the Rest-of-the-World.

Regional Analysis
The Asia Pacific region dominates the global laser projector market, witnessing the rapid uptake in stadiums, amusement parks, and public places. Moreover, advancements in laser projection technologies like 4K and 8K accelerate the growth of the market.

North America acquires the second-best position in terms of the laser projector market value. The rising market demand attributes to the adoption of laser projectors in schools and universities to enhance the learning experience.

Europe also demonstrates a positive growth rate towards the adoption of laser projectors. The increasing application areas and integration of laser projector with the current manufacturing environment propel the regional market growth. Also, the strong presence of major manufacturers, such as Barco and Hitachi Digital Media Group, acts as a key tailwind for the regional market growth.

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Industry Trends
One of the advantages laser projectors have over other projectors is moderate brightness and excellent color, which drives the growth of the market. The demand for modern laser projector variants that are compact is constantly on the rise. Moreover, the rising demand for low maintenance projectors across the end-user verticals increases the laser projector market value.

On the other hand, the high initial cost of laser projectors that can provide high luminosity and operational challenges, such as excellent color quality, pixel density, low-end models of laser projectors, are some of the challenges that the laser projector market witnesses. Nevertheless, industry players respond to these challenges with their technical expertise and industry experience, which would support the market development throughout the review period.

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