Portable Projector Market worth $1.9 billion by 2025 - Exclusive Report by MarketsandMarkets™
CHICAGO, Jan. 13, 2021 /PRNewswire/ -- According to the new market research report "Portable Projector Market with COVID-19 Impact Analysis, Technology (DLP,LCD, LCOS), Dimension (2D,3D), Lumen(Below 500, 500 to 3,000, Above 3,000), Resolution(VGA,XGA, HD & FHD), Projection, Application, and Region - Global Forecast to 2025", published by MarketsandMarkets™, the market is projected to grow from USD 1.5 billion in 2020 to USD 1.9 billion by 2025; it is expected to grow at a CAGR of 4.3% from 2020 to 2025. The key factors fueling the growth of the market include digitalization in the education sector and technological advancements in portable projectors. Additionally, the reduction of the average selling price of portable projectors is also augmenting the growth of the portable projector market.
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The DLP segment is projected to account for the largest share of the portable projector market during the forecast period.
Manufacturers mainly use portable projectors based on DLP technology due to their features such as higher native contrast, compact size, and lighter weight than portable projectors based on LCD and LCoS technologies. DLP projectors offer a brilliant, colorful, clear image with good contrast.
The market for HD and FHD portable projectors is expected to grow at the highest CAGR during the forecast period
Portable projectors with better viewing experience are in high demand, which has resulted in a shift from entry-level to mid-level projectors. More pixels ensure clear details with high color brightness, resulting in an intense quality of images and videos, thereby delivering the best visual entertainment.
The consumer electronics application in portable projector is expected to grow at the highest CAGR during the forecast period.
The growing inclination of end-users toward using lightweight and compact electronic products and the increasing attraction toward creating personalized entertainment hubs to enjoy films, games, and sports, music, and any other streaming content directly from smartphones, tablets, and laptops are expected to facilitate the growth of the portable projector market
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North America held the largest share of the global portable projector market during the forecast period.
North America has been a major contributor to the growth of the overall portable projector market as the region has a huge market for consumer electronics, which is the major application for portable projectors. The US invests significantly in introducing cutting-edge technology-based devices in the education sector. With most students having access to computers or smartphones, adaptability and acceptance of new technologies by students add up to their development not only in terms of education but also in terms of personality. However, the US is expected to face a significant reduction in its market size in 2020 due to the adverse effects of COVID-19 on the infrastructure and commercial sectors. The adoption of portable projectors might be largely impacted in 2020 due to the closure of educational institutions and halted operations in the corporate sector. However, with gradually resuming operations, the demand for portable projectors that find applications in business and education may increase with time in the coming years, along with the economic recovery.
The key players operating in the portable projector market include Epson (Japan), Canon (Japan), LG (South Korea), Dell (US), HP (US), Acer (Taiwan), Sony (Japan), Kodak (US), Philips (Netherlands), and Panasonic (Japan).
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