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Projection Mapping Global Market Report 2022: Ukraine-Russia War Impact
[December 06, 2022]

Projection Mapping Global Market Report 2022: Ukraine-Russia War Impact

NEW YORK, Dec. 6, 2022 /PRNewswire/ --

Major players in the projection mapping market are AV Stumpfl GmbH, Barco, BenQ, Christie Digital Systems USA Inc, Digital Projection, Optoma Corporation, Panasonic Corporation, Seiko Epson Corporation, Sharp NEC Display Solutions, Vivitek Inc, Resolume, Lumitrix sro, Green Hippo, GarageCube, HeavyM, Pixel Rain Digital, NuFormer, Epson and NEC Display Solutions.

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The global projection mapping market is expected to grow from $2.29 billion in 2021 to $2.76 billion in 2022 at a compound annual growth rate (CAGR) of 20.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The projection mapping market is expected to reach $5.97 billion in 2026 at a compound annual growth rate (CAGR) of 21.3%.

The projection mapping market consists of sales of projection planning tools by entities (organizations, sole traders, and partnerships) that are used to turn objects, often irregularly shaped, into display surfaces for video projection.Adopting the video projection technique known as projection mapping, in which video material is mapped onto a surface, a regular object, such as a building, runway, stage, or even a body of water, may become an astonishing show.

To create a pleasurable experience of light and illusion, these surfaces transform into canvases, playing off the shape and textures of the surface. Even interactive elements may be created using these photos and mapping tools.

The main offering of projection mapping is hardware and software.Hardware is used for taking input data from the user, storing the data, displaying the output, and executing the commands given by an individual.

Hardware refers to the physical elements that make up a computer or electronic system and everything else that is physically tangible.This includes the monitor, hard drive, memory, and CPU.

Hardware works hand-in-hand with firmware and software to make a computer function.Projection mapping has 2, 3, and 4 dimensions and has a short throw and standard throw distance range.

Media events, venue openings, entertainment, product launches, and retail are the applications of projection mapping.

North America was the largest regon in the projection mapping market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in the projection mapping market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The increasing adoption of projection mapping in media events is expected to propel the growth of the projection mapping market going forward.Projection mapping refers to a video projection technique in which video footage is mapped onto a surface, turning common objects such as buildings, runways, stages, and even water into astonishing displays.

Projection mapping helps the media engage their audience through visual aesthetics.Using projection mapping in media events can also save you money.

For instance, according to the US Bureau of Labor Statistics, a US-based department of labor, for the year 2021, the annual wage for meeting, convention, and event planners was $49,470.This media industry is projected to grow by 18% by the end of 2030.

It is also said that, on average, 16,400 opening meetings are held every year. Therefore, the increasing adoption of projection mapping in media events is driving the growth of the projection mapping market.

The use of augmented and virtual reality is a key trend in the projection mapping market.Major companies operating in the projection mapping services market are focused on creating a cohesive experience through augmented and virtual reality to strengthen their position in the market.

A person can interact with an artificial three-dimensional (3-D) visual or other sensory environment in virtual reality (VR), which uses computer modelling and simulation.Using digital visual components, music, or other sensory cues, augmented reality (AR) creates an improved representation of the current world that is transmitted through technology.

To project any desired picture onto the surface of that item, the programme can work with a projector.Due to this, users can view augmented reality (AR) content without the usage of head-mounted AR glasses or other portable AR-enabled devices (smartphones).

By using specialized software, a two-or three-dimensional object is spatially mapped onto the virtual program which mimics the real environment it is to be projected onto. For instance, in October 2021, Nextech AR Solutions Corp. announced the opening of its "mini-metaverse" at the City of London’s "Harmony at London Wall Place." Nextech’s ARway spatial mapping technology and software development kit enable the City of London Metaverse (SDK).

In September 2021, Disguise, a USA-based global provider of live event visualization solutions, acquired Mapping Matters for an undisclosed amount.Through this acquisition, Disguise aims for remote collaboration and cloud-based 3D content previsualization and solidifies its position as the globally recognized, standard solution for end-to-end production.

Mapping Matter is a USA-based cloud-based 3D content previsualization company, known for delivering engaging, visually-rich, interactive cloud-based solutions for designers anywhere in the world.

The countries covered in the projection mapping market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

The projection mapping market research report is one of a series of new reports that provides projection mapping market statistics, including projection mapping industry global market size, regional shares, competitors with a projection mapping market share, detailed projection mapping market segments, market trends and opportunities, and any further data you may need to thrive in the projection mapping industry. This projection mapping market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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