Dublin, March 06, 2024 (GLOBE NEWSWIRE) -- The "Light Projector Market by Product Type (Fixed-installation Projector, Pico Projector), Technology (LCD, DLP, LCoS), Application (Education, Enterprise, Healthcare, and Others), and Region 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The global light projector market size reached US$ 9.9 billion in 2023. The market is projected to reach US$ 18.8 billion by 2032, exhibiting a growth rate (CAGR) of 7.38% during 2023-2032. Significant growth in the entertainment industry, rising expenditure capacities of consumers, and extensive research and development (R&D) activities represent some of the key factors driving the market.
Light Projector Market Trends
The significant growth in the entertainment industry across the globe is one of the key factors creating a positive outlook for the market. Light projectors are commonly used in concerts, festivals, and other live events to create visual effects and immersive experiences for the audience. In line with this, the widespread product adoption due to the growing popularity of streaming services and home theater systems is favoring the market growth.
Moreover, the shifting consumer preferences to create a big-screen experience and watch movies, play games, and enjoy other entertainment are acting as another growth-inducing factor. Apart from this, various technological advancements in light projectors that help in improving light projector performance, including higher resolutions, brighter images, and more color accuracy, are providing an impetus to the market growth. Additionally, the widespread product adoption in classrooms and lecture halls to display visuals, videos, and other multimedia content and make lessons more engaging and interactive for students is propelling the market growth.
Furthermore, the introduction of smart light projectors that can be connected to the internet and have built-in software that allows for streaming content directly from over-the-top (OTT) platforms is positively influencing the market growth. Other factors, including rising expenditure capacities of consumers, the launch of portable and versatile projectors, increasing product utilization in planetariums and museums, changing consumer preferences, extensive research and development (R&D) activities, and rising adoption of pico projectors, are anticipated to drive the market growth.
Key Market Segmentation:
The report provides an analysis of the key trends in each segment of the global light projector market, along with forecasts at the global, regional, and country levels from 2023-2032. The report has categorized the market based on product type, technology, and application.
Product Type Insights:
- Fixed-installation Projector
- Pico Projector
The report has provided a detailed breakup and analysis of the light projector market based on the product type. This includes fixed-installation and pico projector. According to the report, pico projector represented the largest segment.
Technology Insights:
- LCD
- DLP
- LCoS
The report has provided a detailed breakup and analysis of the light projector market based on the technology. This includes LCD, DLP, and LCoS. According to the report, LCD represented the largest segment.
Application Insights:
- Education
- Enterprise
- Healthcare
- Others
The report has provided a detailed breakup and analysis of the light projector market based on the application. This includes education, enterprise, healthcare, and others. According to the report, education represented the largest segment.
Regional Insights:
- North America
- United States
- Canada
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Companies Mentioned
- AAXA Technologies Inc.
- Acer Inc.
- BenQ Corporation (Qisda Corporation)
- Canon Inc.
- Seiko Epson Corporation
- Sony Group Corporation
For more information about this report visit https://www.researchandmarkets.com/r/stel4v
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