Laser Projection Market by Product type and Geography - Forecast and Analysis 2022-2026

The laser projection market share is expected to increase by USD 7 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 17.6%.

This laser projection market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the laser projection market segmentation by type (laser projector and CAD laser projection) and geography (North America, Europe, APAC, South America, and the Middle East and Africa). The laser projection market report also offers information on several market vendors, including Barco NV, Canon Inc., Coretronic Corp., Dell Technologies Inc., Delta Electronics Inc., Eiki Industrial Co. Ltd., FARO Technologies Inc., Hitachi Ltd., Hutchinson Manufacturing, LAP GmbH Laser Applikationen, LG Corp., Panasonic Holdings Corp., Qisda Corp, Ricoh Co. Ltd, Seiko Epson Corp., Sharp Corp., Sony Group Corp, Ushio Inc., ViewSonic Corp., Xiaomi Inc, and CASIO Computer Co. Ltd. among others.

What will the Laser Projection Market Size be During the Forecast Period?

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Laser Projection Market: Key Drivers, Trends, and Challenges

The research studied the historical data considered for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends, and challenges for the global laser projection market.

Key Laser Projection Market Driver

Better color and accuracy are the key factors driving the global laser projection market growth. The key visual advantage of laser projection is that laser light sources provide improved color fidelity, often known as a broader color range. Aside from the colors, laser projectors provide uniform and higher brightness, though, over the projector's lifetime, there is a drop in brightness when compared to alternatives like projection lamps. Furthermore, because a laser light source is more controlled, laser projections frequently have stronger contrast than lamp-based projectors. Some people focus on brightness as the key benefit of using a laser projector, but there are several other advantages also. Laser projections produce higher-quality light than other projectors. The light emitted by a standard lamp-powered projector is unfocused and dispersed. For instance, while shining a torch on a wall, the closer the person holding the torch gets to the wall, the more focused, sharper, and brighter the light becomes. On the contrary, lasers can produce great clarity of focus irrespective of distance. Therefore, these factors will positively impact the global laser projection market during the forecast period.

Key Laser Projection Market Trend

Rapid technological advancements will fuel the global laser projection market growth. IoT essentially connects electronic devices to the Internet, thereby facilitating data transfer over a wireless (or wired) network. The essence of this technology is that it requires minimum human intervention. The devices needed for this technology should have sensors, such as laser projections, which will play a key role in mobile sensing, ensuring that the technology delivers an efficient performance. The IoT integrates technologies such as data communication, hardware design, as well as data storage and data mining. The IoT is mostly used in wearables, smart homes, smart workplaces, smart buildings, industrial automation, and autonomous cars. One of the most important features of smart homes, smart workplaces, and smart buildings is the automated control of light intensity. Laser projections are the most critical components used to enable smart lighting features in smart homes. Light intensity can be controlled either manually or automatically based on the inputs provided by sensors. Automated tinting of windows for high ambiance lighting is another application of laser projections. Thus, the growing adoption of IoT will accelerate the growth of the laser projection market during the forecast period.

Key Laser Projection Market Challenge

High projector rental fees are the major challenge to the global laser projection market growth. For many end-users of laser projectors, renting a high-brightness, true-color projector from outside suppliers for events or off-site meetings is an expensive proposition. Renting laser projectors can often be expensive, especially for large-scale events that require huge floor displays. Hiring a vendor to develop media content increases the costs even further. Renting equipment for less frequent events or on-site meetings may appear to be more efficient, but the cost and reliability may represent a greater challenge than some of the other elements needed to organize the event. Therefore, high projector rental fees will negatively impact the global laser projection market during the forecast period.

This laser projection market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global laser projection market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the laser projection market during the forecast period.

Who are the Major Laser Projection Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

• Barco NV
• Canon Inc.
• Coretronic Corp.
• Dell Technologies Inc.
• Delta Electronics Inc.
• Eiki Industrial Co. Ltd.
• FARO Technologies Inc.
• Hitachi Ltd.
• Hutchinson Manufacturing
• LAP GmbH Laser Applikationen
• LG Corp.
• Panasonic Holdings Corp.
• Qisda Corp
• Ricoh Co. Ltd
• Seiko Epson Corp.
• Sharp Corp.
• Sony Group Corp
• Ushio Inc.
• ViewSonic Corp.
• Xiaomi Inc
• CASIO Computer Co. Ltd.

 

This statistical study of the laser projection market encompasses successful business strategies deployed by the key vendors. The laser projection market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

• barco.com - The company offers laser projection products that include SP2K-7, SP2K-9, Freya+, Freya, XDL-4K30, and XDL-4K60.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.

The report on the laser projection market contains comprehensive market knowledge and an in-depth vendor landscape add-on to an analysis of the key vendors.

Laser Projection Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the laser projection market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global industrial machinery market includes the following core components:

• Inputs
• Inbound logistics
• Operations
• Outbound logistics
• Marketing and sales
• Service
• Support activities
• Innovation

The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Laser Projection Market?

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39% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for the laser projection market in North America. Market growth in this region will be slower than the growth of the market in other regions.

Better color and accuracy of laser projectors will facilitate the laser projection market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID-19 Impact and Recovery Analysis

In 2020, the outbreak of COVID-19 adversely impacted the growth of the laser projection market in the region, primarily due to the closure of educational institutions and corporate offices. Furthermore, the manufacturing of several industrial types of equipment, including laser projectors, was halted due to the closure of manufacturing plants, disrupted supply chains, and the economic recession triggered by the pandemic in the region, primarily during the first quarter of 2020. However, the demand for laser projection products increased moderately from the home entertainment sector during the second half of 2020. Major players in the region, such as AAXA Technologies, MicroVision Inc., and Syndiant, launched new products to strengthen their businesses. Owing to factors such as large-scale vaccination drives and the resumption of supply chains, the laser projection market in the region is expected to grow throughout the forecast period.

What are the Revenue-generating Type Segments in the Laser Projection Market?

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The laser projection market share growth in the laser projector segment will be significant during the forecast period. A laser projector is distinguished from a bulb-based projector on the basis of the method by which the picture on the screen is created. Bulb-based projection requires the light source (the bulb) to illuminate a panel, which creates the picture. In comparison, laser projectors create light using lasers. These laser projectors are used in various sectors, such as media and entertainment, healthcare, education, and retail. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the laser projection market size and actionable market insights on the post-COVID-19 impact on each segment.

 

Laser Projection Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 17.6%
Market growth 2022-2026	$7 billion
Market structure	Fragmented
YoY growth (%)	17.2
Regional analysis	North America, Europe, APAC, South America, and the Middle East and Africa
Performing market contribution	North America at 39%
Key consumer countries	US, Canada, China, Japan, Germany, and Italy
Competitive landscape	Leading companies, Competitive Strategies, Consumer engagement scope
Key companies profiled	Barco NV, Canon Inc., Coretronic Corp., Dell Technologies Inc., Delta Electronics Inc., Eiki Industrial Co. Ltd., FARO Technologies Inc., Hitachi Ltd., Hutchinson Manufacturing, LAP GmbH Laser Applikationen, LG Corp., Panasonic Holdings Corp., Qisda Corp, Ricoh Co. Ltd, Seiko Epson Corp., Sharp Corp., Sony Group Corp, Ushio Inc., ViewSonic Corp., Xiaomi Inc, and CASIO Computer Co. Ltd.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Laser Projection Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive laser projection market growth during the next five years
• Precise estimation of the laser projection market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the laser projection industry across North America, Europe, APAC, South America, and the Middle East and Africa
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of laser projection market vendors

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