Projectors Market Thrives on Innovation: Technological Advancements Drive Growth, with Education Sector Fueling Demand
DUBLIN, Sept. 19, 2023 /PRNewswire/ -- The "Projectors Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global projectors market is poised for substantial growth, with projections indicating an increase from $10.81 billion in 2022 to $11.49 billion in 2023, driven by a compelling Compound Annual Growth Rate (CAGR) of 6.3%. Furthermore, the projectors market is anticipated to continue expanding, reaching $14.17 billion by 2027 at a CAGR of 5.4%.
Major Players in the Spotlight
Prominent players shaping the projectors market include industry leaders like MicroVision Inc., Aaxa Technologies Inc., LG Technologies Inc., Sony Group Corporation, Canon Inc., Dell Technologies Inc., LG Technologies Inc., Optoma Technology Corp., Panasonic Corp., NEC Display Solutions Ltd., InFocus, Texas Instruments Inc., Lenovo Group Ltd., Sharp, Hitachi Ltd., ZTE Corporation, JVC, Celluon Inc., Acer Inc., Epson, Delta Electronics Inc., GAC Technology Group, ASUSTeK Computer Inc., ViewSonic, and Shenzhen Hotack Technology Co. Ltd.
Compelling Reasons to Explore the Projectors Market
Investors and stakeholders should take note of the projectors market for several compelling reasons:
Projectors: Transforming Large-Scale Viewing
A projector is a versatile device that harnesses light to project images or videos onto flat surfaces, such as screens or walls, making it indispensable for various commercial applications.
The projectors market encompasses distinct types, including home theatre projectors, business projectors, and portable projectors. These dvices leverage technologies such as DLP (digital light processing), LCD (liquid crystal display), LCOS (liquid crystal on silicon), and 2D and 3D dimensions. Distribution channels span hypermarkets, electronic malls, specialty stores, online retail, and others. Projectors find applications in business, education, home entertainment, cinema, and diverse sectors.
Technological Advancements Fuel Growth
Technological innovation is a pivotal trend in the projectors market. Leading market players are investing in innovative technologies, particularly in the realm of home theatre projectors, which have gained immense popularity. Home theatre setups have become the preferred choice for immersive entertainment, especially when people spend more time indoors. A case in point is ViewSonic, a US-based company, which launched two cutting-edge projectors in November 2022. These projectors feature third-generation LED technology, delivering brighter visuals and boasting a built-in Harman Kardon speaker for an enriched audio experience, perfect for home screenings of movies and video games.
North America Leads the Way
In 2022, North America asserted its dominance as the largest region in the projectors market. The report encompasses key regions, including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, and the Middle East and Africa. Furthermore, it delves into essential countries like Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Education Drives Market Expansion
The surge in demand for projector screens within the educational sector is a primary driver of the projector market's growth. Educational institutions are increasingly adopting advanced teaching techniques, with projectors playing a pivotal role in delivering engaging and immersive learning experiences. Notably, the eLearning industry, a US-based e-learning journal website, reported that the e-learning market surpassed $240 billion in January 2022, with predictions of reaching $374 billion by 2026. This substantial growth underscores the rising demand for projector screens in the educational sector.
About the Projectors Market Report
This projectors market research report is part of a comprehensive series of reports offering invaluable insights into the projectors market. It covers projectors market statistics, global market size, regional market shares, competitor analysis, detailed market segments, trends, opportunities, and more. It empowers stakeholders with a holistic view of the industry's current and future landscape.
Market Value Clarification
The market value is defined as the revenues generated by enterprises from the sale of goods and/or services within the specified market and geography. These revenues encompass sales, grants, or donations and exclude revenues from resales along the supply chain.
Key Topics Covered:
6.2. Global Projectors Market, Segmentation By Technology, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
6.3. Global Projectors Market, Segmentation By Dimension, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
6.4. Global Projectors Market, Segmentation By Distribution Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
6.5. Global Projectors Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7. Projectors Market Regional And Country Analysis
For more information about this report visit https://www.researchandmarkets.com/r/xhpd1k
SOURCE Research and Markets
Architecting Work from Anywhere Solutions for Your Clients using Cloud
Day 1 Internet Access for Retail IoT Solutions