Wilmington, Delaware, United States, June 14, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - Rise in demand for smart projectors in the entertainment sector, especially home entertainment, is expected to offer significant business opportunities to companies in the market.
Considerable usage of smart and interactive projectors in classrooms of educational institutions is expected to boost the market. The global portable projectors market was valued at US$ 1.7 Bn in 2022 and is projected to reach US$ 3.2 Bn by 2031.
Surge in adoption of digital light processing technology in portable projectors is anticipated to augment market development. Remarkable image quality, contrast ratio, and ability to project image on a wide range of surfaces are key benefits of the technology. Introduction of battery-powered portable LED projectors has broadened market outlook in the past few years.
The digital light processing technology segment is anticipated to gain market share by the end of 2031. Significant demand for high-performance electronic devices in gaming, especially among millennials, presents lucrative opportunities to companies in the portable projector sector.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 1.7 Bn | |
| Estimated Value | US$ 3.2 Bn | |
| Growth Rate - CAGR | 7.4% | |
| Forecast Period | 2023-2031 | |
| No. of Pages | 220 Pages | |
| Market Segmentation | Type, Technology, Projector Weight, Projector Image Size, Connectivity Technology, Price, End-use, Distribution Channel | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America | |
| Companies Covered | ASUSTeK Computer Inc., BenQ, InFocus Corporation, LG Electronics, Optoma Group, VANKYO, ViewSonic Corporation, WEMAX INC., Xiaomi Corporation, Xpertech Systems LLP | |
Key Findings of Study
- Considerable Adoption of Portable Projectors in Entertainment Sector: Rapid increase in adoption of portable projectors in the entertainment sector is anticipated to augment market size in the next few years. Significant adoption of advanced gaming consoles is fueling demand for advanced portable projectors.
- Rapid increase in demand for smart portable projectors that are easily connected with streaming device or laptop in home entertainment applications is expected to accelerate market development in the near future.
- An instance is Full HD Native 1080p portable projector for home theater entertainment applications. Surge in usage of portable projectors for watching movies on big screen at home is bolstering market size.
- Rise in Demand for Advanced Portable Projectors in Education Sector: Considerable usage of digital tools to make teaching more interactive is bolstering market growth. Rise in demand for advanced projectors in the education sector can be ascribed to usage of these digital technologies to boost student engagement and improve learning outcomes.
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Key Growth Drivers: Portable Projector Market
- Rapid digital transformation in the education industry presents significant growth opportunities for projector vendors and manufacturers. Considerable adoption of interactive methods in educational institutions is expected to fuel market development.
- Steady technological advancements in portable projectors have led to the development of devices that are compact, lightweight, and with better functionalities. An instance is development of wireless smart projectors equipped with cloud storage capability. Rapid advancements in display technologies is expected to accelerate market development.
Regional Growth Dynamics
The market in North America has been witnessing rapid growth in the past few years. Early adoption of advanced mini projector technologies and innovation in designs of compact projectors are bolstering market size in the region.
Rise in sales of portable projectors in the U.S. and Canada, especially in the entertainment and education sectors, is likely to spur market development in North America. Significant demand for portable projectors that are equipped with a range of connectivity options, such as Wi-Fi, HDMI, and Bluetooth, is anticipated to fuel the market.
The market in Asia Pacific is anticipated to witness significant revenue growth in the next few years. Increase in adoption of portable projectors in gaming applications and introduction of advanced display technologies are expected to bolster market size in the next few years.
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Competition Landscape
Manufacturers are offering portable projectors with state-of-the-art camera technologies in order to strengthen market positions in the near future. Prominent companies in the portable projector market are
- ASUSTeK Computer, Inc.
- BenQ
- InFocus Corporation
- LG Electronics
- Optoma Group
- VANKYO
- ViewSonic Corporation
- WEMAX INC.
- Xiaomi Corporation
- Xpertech Systems LLP
Portable Projector Market Segmentation
Type
- Standalone Portable Projectors
- Embedded Portable Projectors
- Media Player
- USB Projector
Technology
- Digital Light Processing (DLP)
- Liquid Crystal Display (LCD)
- Liquid Crystal on Silicon (LCoS)
- Others (LED, Laser, etc.)
Projector Weight
- Below 4.9 lbs
- 5 lbs – 10 lbs
- Above 10 lps
Projector Image Size
- Below 50 Inches
- 50 – 200 Inches
- Above 200 Inches
Connectivity Technology
- Wired
- Wireless
Price
- Low (Below US$ 150)
- Medium (US$ 150 – US$ 300)
- High (Above US$ 300)
End-use
- Corporates
- Media Production/Content Houses
- Education Facility
- Gaming
- Home Entertainment
- Others (Bar & Lounges, Government Institutions, etc)
Distribution Channel
- Online
- E-commerce
- Company-owned Websites
- Offline
- Mega Retail Stores
- Specialty Stores
- Others (Individual Stores, Departmental Stores)
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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