Newark, NJ, Feb. 24, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global projection mapping market is expected to grow from USD 1.56 billion in 2018 to USD 7.78 billion by 2026 at a CAGR of 22.2% during the forecast period from 2019-2026. Projection mapping market has been witnessing rapid growth from the past few years. Projection mapping has capability to urn any surface into a dazzling canvas, by adding special effects, motion graphics and lasers. Thus it has increasing demand in the brand launches, presentations, entertainment events and corporate events.
Projection mapping is a technique which helps in projecting the videos and images of the objects on any surface and to provide information of the objects which are complicated in design like buildings, small indoor objects and others. This technique uses a projector to project on any surface and helps into a dynamic visual display. It can be used for advertising, decoration, live concerts, theatre, gaming, and computing. It can be used to create immersive experiences for theatre, television. Projection mapping uses different types of technology for projecting content like 3D, 2D, 4D, DLP, and LCD. It helps in getting the audience attention as it provides different and attractive content to them.
Global projection mapping market is expected to witness rapid growth over the forecast period, owing to rising use of projection mapping in media events. In addition to this, growing investment in product advertising is a major factor driving the market. However, it offers less-effective projection under sunlight, is anticipated to hinder the market growth over the forecast period. Nevertheless, rising use of virtual reality augmented may provide future growth opportunities in forthcoming years.
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Key players operating in the global projection mapping market are Panasonic Corporation, Barco, BenQ, Vivitek, ViewSonic Corporation, Pixel Rain Digital, HeavyM, Blue Pony, Lumitrix s.r.o, Green Hippo, garageCube, Resolume, AV Stumpfl GmbH, NuFormer, NEC Display Solutions, Digital Projection, Optoma USA, Christie Digital Systems USA, Inc., and Seiko Epson Corporation among others. To enhance their market position in the global Projection mapping market, the key players are now focusing on adopting the strategies such as product innovation, recent developments, mergers & acquisitions, joint venture, collaborations, and partnership.
- For instance, in November 2017, BenQ announced the launch of 4K UHD HDR home cinema projector which has latest CinematicColorTM Technology and it would enhance their market share because it is technologically upgraded.
- In July 2019, Panasonic Corporation announced the launch of real time projection mapping projector, the industry's lowest latency at just 0.0016 seconds and highly useful applications in fields including sports competition.
The software market for projection mapping is expected to grow at the highest CAGR of 25.6% over the forecast period
Offering segment is divided into segments such as software and hardware. The software market for projection mapping is expected to grow at the highest CAGR of 25.6% over the forecast period, than hardware as hardware devices sustain over the long term, while software licenses have to be update on monthly or annual basis. This, in turn, increases the revenue of the software, and the software segment is expected to grow rapidly in the projection mapping market during the forecast period.
The standard throw segment held the highest market share of 62.30% in 2018
The throw distance segment includes a short throw and a standard throw. The standard throw segment held the highest market share of 62.30% in 2018. Standard throw projection mapping provides very large images and is usually from projectors that are installed away from the projection screen. They require a long distance to make an image. Standard throw projectors are mainly used in events and hence are expected to hold a major share of the projection mapping market during the forecast period.
The 3-Dimension segment accounted for the major market share in the market and valued around USD 799.07 million in 2018
The Dimension segment is classified into 2-Dimensional, 3-Dimension, and 4-Dimension. The 3-Dimension segment accounted for the major market share in the market and valued around USD 799.07 million in 2018. The 3D projection includes developing outcomes through warping information with a regulated application, as pictures take on physical structure.
The large venue segment is dominating the market with the highest share of 40.20% in 2018
The application segment includes events, festivals, large venue, retail/entertainment, and others. The large venue segment is dominating the market with the highest share of 40.20% in 2018. Increasing spending on amusement and theme parks is anticipated to boost the projection mapping market for large venue application as projection mapping is commonly being used in this application.
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Regional Segment Analysis of the Projection Mapping 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 regions analysed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. North America held the largest market share of approximately 42.30% in 2018. The region is one of the major hub for shows, corporate events, and sports events. The growing availability of 3D and 4D content and increasing use of augmented and virtual reality may create opportunities for the projection mapping market in future. There is a growing demand for 4-dimensional content projection as it creates more attentive environments for all the applications in the region, further driving the growth of market. Asia Pacific is growing rapidly region owing to increasing consumer awareness about high-brightness projectors, increasing government investment on tourism, and sporting events are fuelling the market for projection mapping in this region.
About the report:
The global projection mapping market is analysed on the basis of value (USD Billion). 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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