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The pico projectors market is estimated to grow at a CAGR of 10.67% between 2022 and 2027. The size of the market is forecast to increase by USD 1,514.65 million. The growth of the market depends on several factors, including the increasing integration of pico projectors in smartphones, the decline in ASP, and the increasing adoption of LCOS technology in pico projectors.
This report extensively covers market segmentation by type (embedded and standalone), technology (DLP, LCOS, and LBS), and geography (North America, APAC, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The reports categorize the global pico projectors market as a part of the global electronic equipment and instruments market within the overall electronics market. The parent global electronics market includes manufacturers of communications equipment, technology hardware storage and peripherals, electronic equipment and instruments, electronic components, consumer electronics, and industrial electronics products, as well as electronic manufacturing services. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
The increasing integration of pico projectors in smartphones is notably driving the market growth, although factors such as low brightness and limited features of pico projectors may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Pico Projectors Market Driver
The increasing integration of pico projectors in smartphones is notably driving market growth. The pico projectors have been integrated into devices like digital photo frames, digital cameras, digital camcorders, laptops, mobile TVs, portable media players, and portable gaming devices. Pico projector-based products include Samsung Galaxy Beam 2, Aiptek ProjectorCam C25 Camcorder, and AAXA P4-X LED Portable pico Projectors.
The smartphone industry is the major end-user and will drive market growth during the forecast period. Vendors are launching pico projectors with technological innovations. These projectors are integrated with mobile devices for operability. For instance, Canon announced the launch of an MP250 wireless mini projector with smartphone mirroring technology. The projector has a built-in rechargeable battery and HDMI interface, which operates on the Android operating system. The projector requires a mobile device with Android 4.2.2 or later and projects 93-inch /images onto any wall from a distance of just 3 meters, making it ideal for homes, small offices, and mobile professionals. The launch of such projectors will contribute to the growth of the market in focus during the forecast period.
Significant Pico Projectors Market Trend
High adoption of embedded pico projectors is the primary trend in the market. The growing demand for small-sized flexible devices allows great demand for embedded pico projectors, enabling them to dominate the market. These projectors integrated into /image processing and electronic devices, such as smartphones, are likely to drive the market in the forecast period. Furthermore, the emergence of augmented reality and IoT are making embedded pico projectors an important platform in electronic devices.
Texas Instruments, a semiconductor firm, offers DLP Pico technology that the company claims is used in 8 out of 10 movie screens worldwide. These projector engines can also be integrated into smartphones and tablets. This is an embedded projector engine that improves /image quality with high optical efficiency, i.e., 20 projected lumens per watt of illumination power. The product also has a broad range of resolutions, i.e., 640X360 NHD to 1280X720 HD. Such development of technology will drive the growth of the market in focus during the forecast period.
Major Pico Projectors Market Challenge
Low brightness and limited features of pico projectors is the major challenge impeding market growth. Pico projectors are small, have limited light-emitting technology, and in most cases, are embedded in devices. It is difficult to provide high-power backups to support these devices. This results in low brightness of output, affecting the adoption of these projectors. This affects market growth adversely.
Furthermore, pico projectors have limited features as compared with traditional projectors. They lack certain standard features such as contrast, focus, and brightness adjustment. Some pico projectors have fixed contrast and focus settings and, therefore, must be placed at a distance from the projection surface to obtain the right focus. This will lower the demand for pico projectors and hinder the growth of the market during the forecast period.
Key Pico Projectors Market Customer Landscape
The report includes the adoption lifecycle of the market, 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 growth strategies.
Global Pico Projectors Market Customer Landscape
Vendors 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.
ViewSonic Corp. - The company offers pico projectors and related solutions such as all digital LCOS microdisplay technology for near-eye, ultra-portable, and high-brightness projection systems. The company offers various products such as monitors, projectors, view boards, and digital displays for a wide variety of applications.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors 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 vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth of the embedded segment will be significant during the forecast period. Embedded pico projectors are added to a portable device and function as an alternate display. The devices in which these projectors are embedded include smartphones, cameras, gaming devices, and laptops. These engines add projection functionality to the device by enabling a small projection on a flat surface. The capability of the engines is driving the market in the consumer electronics world. This will drive the market during the forecast period.
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The embedded segment was valued at USD 1,390.93 million in 2017 and continued to grow until 2021. The growth of the embedded pico projectors market during the forecast period is driven by the technological advances in communication devices and consumer electronics, such as smartphones and digital cameras, to have improved imaging performance. Furthermore, embedded pico projectors are also extensively used in wearable and gaming devices. Virtual reality (VR) has become more mainstream, in line with the Internet of Things (IoT) ecosystem. Heads-up displays (HUDs) and key devices in VR are the application areas where embedded pico projectors would see extensive usage. This will drive the overall demand for pico projectors during the forecast period.
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North America is estimated to contribute 45% 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 market during the forecast period.
The pico projectors market is expected to grow moderately in the region during the forecast period. The high sales in the region have been attributed to the increased adoption of LCOS technology in the pico projector segment, primarily across the US. The growth of the market in the region is also associated with the high spending in the education sector, the demand from smartphone manufacturers, and the demand for portable and durable low-cost projection systems from end consumers.
The presence of several well-established vendors in the region further supports the growth of the market in focus. The vendors in the region offer high-quality pico projectors with multiple features. Additionally, the vendors are expanding their offerings of different technologies for pico projectors. For instance, Texas Instruments offers advanced DLP technology for mobile projectors.
The outbreak of COVID-19 adversely impacted the growth of the market in the region, primarily due to the closure of educational institutions and corporate offices. However, the major industry players in the region launched new products to strengthen their business. For instance, in January 2021, AAXA Technologies Inc. announced the launch of a battery-powered pico projector, P6X, which is capable of delivering 160 /images on battery power. The projector features an onboard media player capable of playing videos, picture slide shows, and other media. Therefore, the launch of such pico projectors in the market is expected to drive the growth of the market in focus in the region during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Pico Projectors Market Scope |
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Report Coverage |
Details |
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Page number |
161 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 10.67% |
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Market growth 2023-2027 |
USD 1,514.65 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
9.0 |
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Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
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Performing market contribution |
North America at 45% |
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Key countries |
US, China, Japan, Germany, and UK |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
AAXA Technologies Inc., Acer Inc., Akaso, ASUSTeK Computer Inc., B and H Foto and Electronics Corp., Canon Inc., Coretronic Corp., Eastman Kodak Co, Koninklijke Philips NV, Lenovo Group Ltd., Magnasonic, MicroVision Inc., Qisda Corp, Ricoh Co. Ltd., Sony Group Corp., Syndiant, Texas Instruments Inc., ViewSonic Corp., LG Electronics Inc., and Samsung Electronics Co. Ltd. |
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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. |
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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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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Technology
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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