“Global Pico Projector Market to reach a market value of USD 13 Billion by 2030 growing at a CAGR of 19.1%”
The Global Pico Projector Market size is expected to reach $13 billion by 2030, rising at a market growth of 19.1% CAGR during the forecast period.
North America is renowned for being an early adopter of innovative technologies. The region has witnessed a substantial increase in its spending on consumer electronics. The substantial IT infrastructure in the area has facilitated market expansion and enhanced the fundamental qualities of these projectors, including portability and mobility. Consequently, the North American region would acquire nearly 30% of the total market share by 2030. Widespread growth in the sale of these projectors in the region can be attributed to their compact size and advanced interface connectivity, which includes WiFi and HDMI. In addition, the anticipation of the introduction of new applications of this technology is projected to increase demand for these projectors in the region, particularly in the fields of life sciences, intelligent traffic systems, and vision-guided robotics.
Consumer preferences have shifted towards portable and compact electronic devices. These projectors perfectly align with this trend, offering a compact solution for projecting content on the go. As consumers seek lightweight and easy-to-carry gadgets, these projectors have gained popularity for their portability. Professionals and business users are increasingly adopting these projectors for on-the-go presentations. These projectors' compact size and portability make them ideal for business travelers and individuals conducting meetings outside traditional office settings. Thus, the rising demand for consumer electronics has positively impacted the market. Additionally, rising disposable income means that consumers have more money available for discretionary spending. Once considered a luxury item, these projectors become more affordable for a larger segment of the population. Professionals with increased disposable income may invest in these projectors for business and professional use. These compact projectors are ideal for on-the-go presentations and meetings, aligning with the needs of individuals who value versatility and portability in their work tools. Due to the increase in disposable income the market impacts positively in the coming years.
However, these projectors are popular for their portability, allowing users to carry them for presentations, entertainment, or outdoor activities. A short battery backup limits the time users can operate the projector without access to a power source, reducing its effectiveness for on-the-go usage and impromptu presentations. Short battery backup may force users to depend on power outlets, limiting the flexibility and versatility of these projectors. Users may feel constrained in choosing locations for presentations or entertainment, as they need to be close to a power source. Due to the above factors, market growth will be hampered in the coming years.
By compatibility, the market is classified into laptop/desktop, smartphones, digital cameras, portable media players, and others. The smartphone segment recorded a remarkable revenue share in the market in 2022. Some smartphones support MHL (Mobile High-Definition Link), which allows them to connect to a projector using an MHL cable. Ensure the smartphone and these projector support MHL and use a compatible cable. Some of these projectors may have companion apps that enhance functionality or allow easier control. Check if there is a dedicated app for your smartphone's operating system, and if so, install it for a better user experience. These projectors are designed to be compatible with various operating systems. Ensure that the projector supports your smartphone's operating system—whether it's Android, iOS, or another platform.
On the basis of technology, the market is segmented into digital light processing (DLP), laser beam steering, holographic laser projection, and others. The laser beam steering segment acquired a substantial revenue share in the market in 2022. Laser beam steering technology significantly enhances image quality in these projectors. The precision in directing laser beams allows for sharper and more detailed projections. The technology minimizes distortion and aberrations, producing clearer and more vibrant images. This improvement in image quality is particularly important in applications such as presentations, entertainment, and educational content where visual clarity is paramount. Laser beam steering technology contributes to the durability and longevity of these projectors. Laser diodes typically have a longer lifespan than traditional projector lamps, reducing the need for frequent replacements.
Based on configuration, the market is fragmented into embedded and standalone/non-embedded. The embedded segment garnered a significant revenue share in the market in 2022. The integration of these projectors into host devices contributes to space efficiency. Users do not need to allocate extra space for a standalone projector, making embedded configurations suitable for situations where space is at a premium. Embedded Pico projectors provide a seamless user experience. With the projector integrated into the host device, users can easily access and activate the projection feature without needing external connections or additional setup steps. Embedded Pico projectors in digital cameras enable users to view photos and videos directly on a larger surface, eliminating the need for a separate display. This feature is particularly useful for photographers who want to showcase their work on the spot.
Free Valuable Insights: Global Pico Projector Market size to reach USD 13 Billion by 2030
Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific region witnessed the largest revenue share in the market. This is primarily owing to the presence of leading companies such as Samsung Electronics Co. Ltd., LG Electronics, Inc., and several other fragmented players. Rising investments for the manufacturing of electronics devices in the Asia Pacific countries, including India, China, and Japan, by key players such as Samsung Electronics have propelled the market growth. The Asia Pacific region, known for its diverse cultures and entertainment preferences, has seen increased interest in these projectors for creating impromptu home theaters, gaming setups, and outdoor movie nights.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 3.3 Billion |
| Market size forecast in 2030 | USD 13 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 19.1% from 2023 to 2030 |
| Number of Pages | 216 |
| Number of Tables | 370 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Configuration, Technology, Compatibility, Region |
| Country scope |
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| Companies Included | AAXA Technologies, Inc., Celluon, Inc., Lenovo Group Limited, LG Electronics, Inc. (LG Corporation), MicroVision, Inc., Miroir, Coretronic Corporation (Optoma Corporation), Syndiant, Inc., Texas Instruments, Inc. and Dell Technologies, Inc. |
By Technology
By Configuration
By Compatibility
By Geography
The Market size is projected to reach USD $13 billion by 2030.
Increase in disposable income of people are driving the Market in coming years, however, Limited brightness and image quality restraints the growth of the Market.
AAXA Technologies, Inc., Celluon, Inc., Lenovo Group Limited, LG Electronics, Inc. (LG Corporation), MicroVision, Inc., Miroir, Coretronic Corporation (Optoma Corporation), Syndiant, Inc., Texas Instruments, Inc. and Dell Technologies, Inc.
The expected CAGR of this Market is 19.1% from 2023 to 2030.
The Asia Pacific region dominated the Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $5 Billion by 2030.
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