Newark, NJ, Jan. 27, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global Pico Projector market is expected to grow from USD 1.57 billion in 2017 to USD 3.94 billion by 2025 at a CAGR of 11.71% during the forecast period 2018-2025.
Decreasing chipset size, incorporation of projection technology with portable electronics products, and advancement in technology are the major trends for the demand of the market.
Pico projector is an image projector used to project image through a handheld device. It is also known as handheld projector or mini beamer that can be combined with Wi-Fi or wireless devices to display images from a smartphone. These projectors uses laser light sources or LED eliminating lamp requirement for the projection. For instance, in 2016, AAXA Technologies Inc. launched HD pico projector with 720P native resolution. This is a cube-shaped pico projector with weight of 0.37 pound and is based on LCOS technology that can delivers the image up to 80-inch screen size diagonally. Some of the popular pico projectors are miroir M20, AAXA LED Pico, Sony MP-CD1, ASUS ZenBeam E1, ASUS ZenBeam Go E1Z, miroir MP160, Megapower ML3, miroir M45 and many more.
Decrease in the size of chipset, incorporation of projection technology with portable electronics products, and advancement in the field of technology are the key driving factors for the pico projector market. The low brightness, high cost and limited features may limit the growth of the market. However, increase in implementation with consumer electronics is expected to boost the Pico Projector market over the forecast period.
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Key players operating in the global pico projector market include Texas Instruments, Inc., MicroVision, Inc, Aaxa Technologies, Inc., LG Electronics, Inc., Lenovo Group Ltd., Optoma Technology Corp., Miroir USA, Syndiant, ZTE Corporation, Celluon, Inc., Acer, Inc., Aiptek International, Inc., Coretronic Corporation, Lemoptix Sa, Sony Corporation, STMicroelectronics NV, Philips, Samsung, and among others. The Texas Instruments Inc., Microvision Inc., Aaxa Technologies Inc., LG Electronics, Inc., Philips, and Optoma are the top leading players of the market. To enhance their market position in the global pico projector market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.
- For instance, In March 2016, Philips launched a new pico projector in PicoPix family. This projector has brightness of 170 lumens and can project images or videos diagonally up to 120 inch. It is compatible with Android, iOS, and Windows operating system that enables user to share the contents.
Non-embedded segment held largest market share of 53.63% in 2017
Type segment covers embedded and non-embedded. The non-embedded segment held largest market share of 53.63% in 2017 due to better design compatibility, multiple connectivity options, and vivid picture quality.
Digital light processing (DLP) segment dominated the global pico projector market with USD 615.21 million in 2017
Technology segment is divided into digital light processing (DLP), liquid crystal on silicon (LCOS), laser beam steering (LBS), holographic laser projection, and others. Digital light processing (DLP) segment dominated the global pico projector market with USD 615.21 million in 2017 as they are effectively used in variety of light source and used as alternative of LEDs or lasers.
Projection lens segment will hold the largest market share of 39.72% by 2025
Components segment is categorized into light source, illumination system, and projection lens. Projection lens segment held highest market share of 39.72% over the forecast period owing to the increased implementation in automotive employing high-quality image projection systems in vehicles.
Resolution segment dominated the market with USD 584.88 million in 2017
Specifications segment includes resolution, brightness, and power source. The resolution segment valued around USD 584.88 million in 2017 due to growing advanced processing technologies. The availability of high resolution projectors in less price has increased the market share of resolution segment in the global pico projector market.
Consumer electronics segment is expected to hold the largest share of 29.17% during the forecast period
Application segment is divided into retail, healthcare, business & education, and consumer electronics. Consumer electronics segment is expected to hold the largest share of 29.17% during the forecast period owing to increasing use of embedded and non-embedded pico projectors in consumer devices. Also, ease of connectivity, less cost, and compact size are key factors for the increasing market size of the consumer electronics segment.
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Regional Segment Analysis of the Pico Projector Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. Asia Pacific region dominated the global pico projector market with USD 545.59 million in 2017 where as the North America region held the second dominant position in the market. Presence of high number of young end users and demand for handy gadgets, and cost-effective solution as it can be embedded in consumer devices, and demand for high quality image products are some of the factors that led to the growth of pico projector market in Asia Pacific region. North America region is second fastest growing region due to high domestic consumption, technological development, and increasing adoption of Bring Your Own Device (BYOD) policy are creating opportunity for the growth of the market.
About the report:
The global Pico Projector market is analysed on the basis of value (USD Billion), volume (K Units), consumption (K Units), imports (K Units) and exports (K Units). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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