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The Multimedia Projector (MMP) Market is projected to increase by USD 7.66 billion with growth at a CAGR of 8.55% between 2023 and 2028. The growth rate of the market depends on several factors including growing demand for projectors in the education and corporate sectors, the rise in the purchase of multimedia projectors through online platforms, and technological advances in multimedia projectors. A multimedia projector is a device used to display images, videos, presentations, and other multimedia content onto a large screen or surface. It's a specialized type of projector designed to accommodate various input sources, such as computers, laptops, DVD players, USB drives, or smartphones, and project their content onto a larger surface for viewing by a group of people. These projectors typically use technologies such as Digital Light Processing (DLP), Liquid Crystal Display (LCD), or Liquid Crystal on Silicon (LCoS) to produce images.
The report includes a comprehensive outlook on the multimedia projector market offering forecasts for the industry segmented by Technology, which comprises DLP, LCD and Others. Additionally, it categorizes Distribution Channel into offline and online and covers Region, including North America, APAC, Europe, Middle East and Africa, and South America. The report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.
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The rise in the purchase of multimedia projectors through online platforms is notably driving market growth. Customers are influenced by advertisements and promotions and are known to purchase impulsively on online platforms. Consumers are increasingly purchasing consumer electronic products on e-commerce platforms because of the benefits they offer. These benefits include convenience, ease of payment, discounts, and availability of a wide variety of products. The growing popularity of online sales has led vendors such as Sony Group Corp., Samsung Electronics Co. Ltd., and LG Electronics Inc. to offer a wide range of multimedia projectors at discount prices through their proprietary online portals.
Additionally, multimedia projector sales through online distribution channels are primarily driven by the availability of a wide range of products, the ability to compare products and quick shipping services. Thus, the rising purchase of multimedia projectors through online platforms will drive the growth of multimedia projectors during the forecast period.
Increasing spending on consumer electronics is an emerging trend shaping the market growth. The high spending on-consumer electronics is attributed to the rise in disposable income and the growing popularity of digitalization. Household net adjusted disposable income is the amount of money that a household earns or gains each year after taxes and transfers. It represents the money that is available to a household to spend on different goods or services. The global consumer electronics market is expected to accelerate owing to the growing popularity of technologically advanced electronic devices, the increasing penetration of retail, and the availability of different brands and products at various price points. These factors are increasing the demand for electronic goods.
For instance, in India, the demand for electronic products is expected to grow at a high rate during the forecast period due to the rising initiatives for digitization in the country, as well as the rising investments from domestic manufacturers in developing low-cost, technologically advanced electronic goods. Thus, the high disposable income and growing demand for electronic goods are likely to increase the spending on consumer electronics globally, which will boost the market's growth during the forecast period.
The high cost of multimedia projectors is a significant challenge hindering market growth. The major advantage of multimedia projectors is that they allow the users to view DVDs, videos, slide shows, or television programs on a large screen besides providing color and sound. They also allow users to give presentations for business purposes and classroom instructions or to watch movies and television at home. Multimedia projectors can be connected to computers, VCRs, DVD players, and cable boxes. As a result, consumers are increasingly adopting multimedia projectors for their superior quality and better experience.
However, the cost of the equipment is a major factor for small and medium-sized companies that have limited budgets to spend on the equipment. Even for government-run schools, which mostly depend on funding from government organizations, a marginal increase in the cost makes a significant difference in adopting these products. Hence, the high cost of multimedia projectors is a key challenge that can hinder the growth of the market during the forecast period.
The market share growth by the DLP segment will be significant during the forecast period. The digital light processing (DLP) segment is expected to grow during the forecast period, owing to factors such as the growing popularity of 3D movies, new product launches, and the growing demand for projectors in the corporate sector. DLP technology uses microscopic mirrors to reflect the light on the screen.
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The DLP segment was the largest and was valued at USD 5.70 billion in 2018. DLP projectors are also gaining popularity among end-users for watching 3D movies. DLP technology ensures that 3D movies are free of the faint double images that usually occur with LCD and LCoS projectors. New product launches from key vendors in the multimedia projector market are also expected to drive the growth of the DLP segment during the forecast period. For instance, in August 2021, BenQ Corp. (BenQ) introduced WiT ScreenBar and ScreenBar, where the BenQ V6000/V6050 4K Laser Television (TV) is a high-brightness 3000 Lumens 4thousand (K) Ultra short throw laser projector that covers 98% of the Digital Cinema Initiatives - Protocol 3 (DCI-P3) color space. It features premium TreVolo speakers, an automatic sunroof slider, and a motion sensor to protect the eyes; such new launches will drive the growth of the DLP segment of the multimedia projector market during the forecast period.
The offline segment includes consumer electronics stores, hypermarkets and supermarkets, and speciality retail stores that sell multimedia projectors. Globalization has spurred investments in traditional commerce and subsequently increased the number of offline retail outlets. In addition, established vendors such as Sony Group Corp., and Koninklijke Philips NV have an extensive global presence through a wide distributor network. Offline stores continue to appeal to consumers owing to their affinity toward experience-based purchase offerings. Several consumers continue to rely on in-store performance and store expert demos to make informed purchase decisions. Further, the sales of multimedia projectors from these channels have rebounded. Overall, the offline segment is expected to witness moderate growth, which, in turn, the global multimedia projector market to witness gradual positive growth during the forecast period.
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APAC is estimated to contribute 47% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the multimedia projector market during the forecast period. Countries such as India, China, Japan, and South Korea were the major contributors to the multimedia projector (MMP) market in the region. The presence of strong vendors, growing demand for multimedia projectors in these countries, and the rising adoption of smart classrooms are expected to drive the adoption of multimedia projectors in APAC.
In addition, government initiatives in these developing countries will foster the demand for multimedia projectors. The shift toward the setting up of smart classrooms will be the key driver for the growth of the multimedia projector market in the region. The implementation of technologically advanced tools within a classroom setting will have a positive impact on the demand for multimedia projectors during the forecast period.
Multimedia Projector Market forecasts include the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their multimedia projector market growth and trends strategies.
Global Multimedia Projector Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Actis Technologies Pvt. Ltd. - This company offers various multimedia projectors such as Actis 3D Projectors, Home Projectors, and Multimedia Projectors, which are portable and wireless.
Canon Inc. - This company offers various multimedia projectors such as Anker SOLIX C1000 projector 1056Wh with 1800W.
Coretronic Corp. - This company offers various multimedia projectors such as Canon LV-WX320 and LV-WX320.
The Multimedia Projector Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Multimedia Projector Market market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The multimedia projector market research report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028
Multimedia Projector Market Scope |
|
Report Coverage |
Details |
Page number |
172 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.55% |
Market Growth 2024-2028 |
USD 7.66 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
8.16 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 47% |
Key countries |
US, China, Japan, Germany, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Actis Technologies Pvt. Ltd., Canon Inc., Coretronic Corp., Dell Technologies Inc., Delta Electronics Inc., Hitachi Ltd., Koninklijke Philips N.V., LG Electronics Inc., Maxell Holdings Ltd., Mitsubishi Electric Corp., Panasonic Holdings Corp., Protonix Fortuner India Pvt. Ltd., Qisda Corp., Ricoh Co. Ltd., Samsung Electronics Co. Ltd., Seiko Epson Corp., Sharp Corp., Sony Group Corp., ViewSonic Corp., and Anker Technology UK 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. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Technology
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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