Tokyo, Japan, May 08, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), Smart Home Projector Market Information by Type, by Resolution, BY Technology, by Pricing, by Sales Channe, and Region—Forecast till 2030, the market is anticipated to acquire a valuation of approximately USD 1.9 billion by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 17.7% during the assessment timeframe.
Smart Home Projector Market Overview:
A smart home projector paired with a soundbar or speakers can give a movie theater-like experience at home. In addition to impressive picture quality, these projectors offer good brightness, vivid colors, and a quality contrast ratio. Also, the portability of these devices makes them perfect for video streaming in backyards or anywhere outdoors.
People increasingly prefer to use a smart projector to watch movies and TV shows on a 100-inch-plus screen from the comfort of home without crowds and noise. This also allows them to pause the show at any time they want. Households are increasingly adopting smart home devices, and most smart homeowners continually upgrade their ecosystems with newer products.
However, these DIY enthusiasts continually experience installation and compatibility issues while trying to create their own truly connected smart homes. The emergence of Matter 1.0, a unified standard, will likely address and solve interoperability and security issues. Advances in smart living systems and products are offering unified support and powerful solutions at a mainstream price, creating significant market opportunities.
Over the past couple of years, investments in smart home systems have been growing continually. Industry players strive to set new benchmarks by offering a value-for-money smart home projector range. Major market trends are rapidly improving connectivity and the rising demand for easy-to-integrate smart home technologies. The increasing integration of advanced smart home solutions and appliances drives market growth.
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Key Players
Players leading the smart home projector market are-
- Samsung Electronics (South Korea),
- Sony Corporation (Japan),
- ViewSonic Corporation (the US),
- SERAPHIC Information Technology Co. Ltd. (China),
- Koninklijke Philips N.V.(Netherlands),
- Zebronics (India),
among others.
Report Scope:
| Report Metric | Details |
| Revenue forecast in 2030 | USD 1.9 Billion |
| Growth Rate | CAGR of 17.7% from 2022 to 2030 |
| Base Year | 2021 |
| Study Period | 2022-2030 |
| Key Market Opportunities | Emerging economies are expected to open lucrative opportunities for the market |
| Key Market Drivers | Integration of projection technologies with mobile devices Increasing disposable income |
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Industry Trends
Developments of smart living systems and products specifically designed for home and office use will boost the market size. Over recent years, investments in smart home and office systems have been growing pervasively. Growing technological advances and numbers of smart & connected homes and workplaces foster market growth. Industry players work on setting new benchmarks by offering their unified and powerful solutions at a mainstream price.
Rapid improvements in connectivity and easy-to-integrate smart home solutions primarily drive the smart home projector market growth. Besides, the growing trend of smart homes & offices and the increasing integration of advanced smart home devices & appliances increase the market shares. Also, the increasing uptake of smart home DIY initiatives supports market growth.
Over recent years, investments in smart home projector space have been growing pervasively. Technological advances and rising numbers of smart homes and workplaces foster market growth. With the wide uptake of smart home projector DIY initiatives, the market will witness a significant revenue rise in the next few years.
However, rising cybersecurity concerns will likely impede market growth. As the number of smart home projects grows, privacy and security will continue to increase. Nevertheless, technological advances and rising numbers of smart & connected homes and workplaces projects would support the market growth throughout the assessment period.
Segments
The smart home projector market report is segmented into resolutions, technologies, pricing, sales channels, and regions. The resolution segment is sub-segmented into HD (1920 x 1080 pixels), XGA (1024 x 768 pixels), WXGA (1280 x 800 pixels), 4K (4096 x 2160 pixels), 8K (7680 × 4320 pixels) and others.
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The technology segment is sub-segmented into DLP, LCD, LED, LCoS, and others. The pricing segment is sub-segmented into low, mid, and high-end. The sales channel segment is sub-segmented into online and offline. By regions, the smart home projector market is sub-segmented into the Asia-Pacific, Americas, Europe, and rest-of-the-world.
Geographical Analysis
North America dominates the global smart home projector market. Growing numbers of smart home & office projects and high living standards due to high disposable income drive the market growth. Moreover, government initiatives to promote energy-efficient solutions that can offer benefits such as increased energy savings and reduced costs substantiate the market value. The US market holds the dominating market in the region due to large technological advancements and increased adoption of smart home projectors.
Competitive Analysis
The smart home projector market appears widely expanded and highly competitive due to numerous major players operating at the international and regional levels worldwide. The market will likely witness fierce competition, with the expected extensions in products, services, and innovations.
Smart home projector providers develop their devices with adept technologies and unrivaled designs & features. Market players strive to enrich their product ecosystem, including new categories and features. They also partner with IoT platform services providers to boost smart home adoption and jointly develop & promote smart home projectors.
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For instance, on Feb. 25, 2023, Zebronics, a leading home entertainment & lifestyle accessories and IT peripherals brand in India, launched a new smart LED full-HD projector - EB-PixaPlay 18. The new projector has a vertical design, and it can redefine the home cinema experience, projecting a whopping 100 cm screen size. The ZEB-PixaPlay 18 projector also has powerful built-in speakers to complete the experience. Consumers can enjoy big-screen entertainment, including movies & shows streaming, live sports, and gaming.
The smart home projector market in Japan is a growing market with a range of products available for customers. Smart projectors are becoming increasingly popular in Japan, as they provide a convenient and flexible way to enjoy multimedia content at home.
The major players in the smart home projector market in Japan include companies such as Sony, Epson, and Panasonic, among others. These companies offer a range of smart projectors, from entry-level models to high-end models with advanced features such as 4K resolution, HDR support, and built-in voice assistants.
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