by Projectors are electronic devices that project an image or video onto a surface, such as a wall or screen. Generally projectors are used in education, business, and home entertainment purposes. They are easy to use and help engage large audiences easily. With the advancement in technology, projectors are available in compact sizes and lightweight designs making them highly portable. They also come integrated with eco-friendly features like low power consumption.
The global Projector Screen Market is estimated to be valued at US$ 12.37 Bn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023-2028, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increased demand for eco-friendly and portable projectors is the key trend propelling the growth of the Projector Screen Market. Manufacturers are focusing on developing energy-efficient and environment-friendly projectors with the growing awareness regarding climate change and carbon footprint. They are integrating their products with features like low power LED lamps and automatic power save modes. Projector models which are lightweight and highly portable allowing users to carry them anywhere are also gaining popularity. Easy connectivity and mobility options are revolutionizing the usage of projectors across various sectors.
SWOT Analysis
Strength: Projectors offer large screen presentations ideal for classrooms and corporate meetings. They allow for flexible display options.
Weakness: Projectors require a clean, blank wall or screen for projection. They are more expensive than smaller individual displays. Bulb replacements can increase operating costs over time.
Opportunity: Growing demand for visual learning tools in education is driving the use of projectors in classrooms. Many organizations are also upgrading their conference rooms with advanced projection capabilities.
Threats: LED and OLED displays offering bigger screens are becoming more affordable alternatives. Wireless screen sharing capabilities reduce reliance on standalone projectors.
Key Takeaways
The Global Projector Screen Market Size is expected to witness high growth.
Regional analysis: Americas dominated nearly half of the total Projector Screen Market share in 2020 owing to bulk adoption of projectors across educational institutions and corporate offices in this region. The Asia Pacific region is expected to grow at the fastest pace during the forecast period due to increasing digitalization and rising investments in education sector across developing nations like India and China.
Key players operating in the Projector Screen Market are Sony, Epson, Optoma, Dell, BenQ, Canon, Panasonic, NEC, Acer, and Casio. Demand for high-brightness and energy-efficient projectors are prompting companies to launch sustainable and cost-effective models. Major firms are also focusing on portable projectors and laser projection technologies to target emerging consumer applications.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
