The Global 3D Projector Market was valued at 2.79 Billion in 2020 and is expected to reach $5.32 billion by 2027, rising at a market growth of 7.6% CAGR during the forecast period. The demand for 3D projectors is expected to increase at a global level owing to the significant rise in the use of the 3D technology in areas such as cinema, education, home theatre, business presentations, and event management. A 3D projector is used to map three-dimensional data onto a two-dimensional surface and create an illusion of depth, which makes images/videos appear real. The increasing availability of advanced 3D projector solutions with improved image quality and connectivity features is also expected to propel the market growth over the forecast period.
The rapid increase in the adoption of 3D projector devices in cinema halls and digitalization in the education sector are expected to drive the market over the coming years. As the popularity of 3-dimensional movies increases globally, owing to the realistic viewing experience they provide, the demand for 3D projector devices in the film industry is likely to rise at a promising pace in the near future. Furthermore, increased recognition of the benefits of digital media in the education sector, such as increased engagement and better learning outcomes, is likely to boost the growth prospects of the 3D projector market in the education sector over the projected period.
The market is also gaining traction owing to the emergence of new technologies such as Liquid Crystal on Silicon (LCoS), which is a hybrid between Display Light Processing (DLP), Liquid Crystal Display (LCD) technologies, and the development of much smaller 3D projecting units. In the past few years, the demand for LCoS projector solutions has massively increased and is likely to remain high in the near future as well. The promising growth prospects for the technology can be attributed to the high quality of projection achieved by the combination of LCD and DLP projection technologies and the use of liquid crystal chips with a mirrored backing to make the image reflective.
The market is also likely to benefit significantly from the increased use of 3D projector solutions in the gaming industry. By providing lifelike viewing experience to the user, these devices offer the ability to turn a basic game into something more immersive and engaging through projection mapping. Gaming 3D projector solutions also enable gamers to customize several gaming specifications, thus fostering creativity and involvement. Several players in the market are offering products for gaming with increasingly improved features, specifications, and efficiency. For instance, BenQ Corporation’s BenQ HT2150ST has customized gaming modes that allow gamers to see even dark shadows and bright details to get the best realistic viewing experience.
Sony Corporation (Japan), Optoma (Taiwan), Seiko Epson Corporation (Japan), Barco (Belgium), Vivitek Corporation (Taiwan), Panasonic Corporation (Japan), BenQ Corporation (Taiwan), NEC Display Solutions (Japan), Christie Digital (US), Viewsonic (US), JVCKenwood Corporation (Japan), Digital Projection (UK), Wolf Cinema (US), Dukane (US), Acer Inc. (Taiwan), Boxlight (US), InFocus Corporation (US), Sim2 BV (Italy), Dell (US), and Canon Inc. (Japan) are among a few major players in the 3D projector market.
Increasing adoption of advanced technologies in the entertainment segment in APAC provides an opportunity for the growth of the market. There has been observed a growing preference for 3D movies from the audience in APAC countries. For instance, various production houses have started releasing 3D versions of films exclusively for China owing to the developing interest of audience toward 3D movies. According to the State Administration of Press, Publication, Radio, Film, and Television (SAPPRFT), China is expected to have over 60,000 cinema screens by 2020. An increasing number of movie screens and interest of veiwers in 3D movies drives the growth of the market in APAC. Increasing demand for home theater and gaming projectors provide an opportunity for the market in APAC as there are many players offering projectors at low cost for home theater applications.
Report : 3D Projector Market - By Technology (DLP, LCD, LCoS), By Light Source (Laser, LED, Hybrid, Metal Halide, Others) and By Region (North America, Asia Pacific, Europe, Middle East & Africa and Latin America) - Industry Analysis, opportunity and Forecast 2020 To 2027