Recently, Technavio released a research on global projector market
, and according to this research, the market will grow steadily at CAGR of around 10% by 2021. Meanwhile, this research firm also predicts that the global pico projector market
will also grow steadily during these next four years and post an impressive CAGR of more than 32% by 2021.
According to Technavio, one of the primary drivers for the global projector market is the rise in the adoption of liquid crystal on silicon (LCoS) technology.This high adoption is largely due to the high resolution of the LCoS projector, black level effect, and high refresh rate that reduces flicker effect. Due to these reasons, LCoS projectors are finding increasing adoption in the series of installation and handheld projectors or pico projectors
. LCoS is a hybrid of both, the liquid crystal as well as the DLP technology
. This dual combination of technology allows LCoS projectors to have higher image resolution and better picture quality, in a compact size. These advantages of LCoS are expected to propel growth in the global projector market during the forecast period.
In terms of geography, APAC accounted for the maximum market share during 2016 and will continue to dominate the market for the next few years. The exponential digitization of the education sector in the region has been one of the major factors responsible for the growth of the projector market in the region. Also, the rising middle class disposable income coupled with the increasing urbanization in the emerging countries is expected to play a crucial role in the growth of the projector
market during the next four years.
The global projector market is moderately fragmented due to the presence of several vendors present across the globe. The vendors constantly make attempts to innovate in the ever-growing education and corporate sectors. Major vendors are continuously competing in terms of technology. As the technology matures and barriers are gradually addressed, the relative emphasis on core technology research, product development, and manufacturing R&D changes, requiring the balance between these factors to be re-assessed on a regular basis.