Portland, Aug. 23, 2019 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Pico Projector Market was pegged at $986.0 million in 2017 and is projected to reach $5.00 billion by 2023, registering a CAGR of 31.1% from 2017 to 2023.
Compact and flexible nature and rapid technological advancements have boosted the growth of the global Pico projector market. However, low brightness and short battery backup hamper market growth. On the contrary, rising demand for consumer electronics and increase in disposable income are expected to create lucrative opportunities in the near future.
The global Pico projector market is divided on the basis of technology, product, application, compatibility, and geography. Based on technology, the market is divided into digital light processing (DLP), laser beam steering, holographic laser projection, and liquid crystal on silicon (LCoS). The DLP segment dominated the market in 2017, contributing more than two-fifths of the market. However, the laser beam steering segment is projected to register the fastest CAGR of 33.4% during the forecast period.
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On the basis of product, the market is bifurcated into embedded, non-embedded/standalone, and USB. The non-embedded/ standalone segment held the largest share in 2017, accounting for more than two-fifths of the revenue. However, the embedded segment is estimated to manifest the fastest CAGR of 32.7% from 2017 to 2023.
Based on application, the market is categorized on the basis of consumer electronics, business & education, and others. The consumer electronics segment held the lion’s share in 2017, contributing nearly half of the market. However, the business & education segment is projected to register the fastest CAGR of 31.6% during the forecast period.
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The global Pico projector market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific held the largest share in 2017, contributing around one-third of the market. However, the market across LAMEA is estimated to register the fastest CAGR of 33.5% during the forecast period.
The report provides an in-depth analysis of the major market players such as MicroVision, Inc, Texas Instruments, Inc., LG Electronics, Inc., Aaxa Technologies, Inc., Optoma Technology Corp., Lenovo Group Ltd., ZTE Corporation, Syndiant, Miroir USA, and Celluon, Inc.
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