The demand for Laser Projectors is projected to show an impressive year-on-year increase till 2023
The report published by Knowledge Sourcing Intelligence titled “Laser Projector Market - Forecasts from 2018 to 2023” studies the various factors affecting the demand for laser projectors among end-users worldwide. The market has been segmented by technology (laser phosphor, RB laser, RGB laser light source, others), and end users (commercial, residential, government).
In conjunction with this, the demand for laser projectors has been estimated across all major geographies namely North America, South America, Europe, Middle East and Africa and the Asia Pacific. To give a clearer view of this market across these geographies, the regional market has been further segmented into countries which account for a significant share in the market. Laser projectors provide significant running advantages over the more commonly available LED projectors, such as lower electricity consumption, longer lifespan, greater durability and reliability, and better viewing range. These advantages have led to a global increase in the demand for laser projectors. Moreover, advancements in videography have led to increasing adoption of laser projectors for movie theaters for higher resolution and quality output, further snowballing the demand for these devices. However, the high initial cost of better-quality laser projectors will limit their demand in the market over the forecast period.
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By end-user, commercial users hold a significant market share
Along with the other benefits, laser projectors also provide better illumination and quality over the other available options and thus are preferred by many commercial and educational users to address larger public. Additionally, laser projectors’ wide adoption in the media and entertainment industry and their low maintained and running costs will add to this growth in the commercial segment in the market.
The Asia Pacific will hold a substantial portion of the Laser Projector Market
Asia Pacific region will have a noteworthy share in the market owing to increasing demand for projection solutions in the education and commercial segments majorly by economies such as China and India. In addition, the region will also have many exciting growth opportunities due to rising standards of living. The increasing adoption of smart education solutions coupled with the increasing public spending in the field of education will further boost the demand for laser projectors during the next five years.
This report also includes a study of strategies and product portfolios of some of the leading companies in the laser projector market. Major companies profiled as a part of this report are LG Electronics, Sony Electronics Inc., Casio Computer Co., Ltd., Optoma Corporation, Panasonic Corporation, Acer Inc., Dell, Seiko Epson Corp., Ricoh Company Ltd., and NEC Display Solutions, Ltd.
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