The global pico projector market is anticipated to surpass a valuation of USD 3.8 billion, attaining a CAGR of 15% during the forecast period (2017-2023), Market Research Future (MRFR) reveals in a detailed report. A pico projector is also acknowledged as a pocket projector, mobile projector, handheld projector, or a mini beamer, is an image projector, which is used to project images with handheld devices.
Market Potential and Pitfalls
Pico projectors have gained huge attention across the globe due to the surging need for handy and portable devices. The soaring demand for consumer electronics has resulted in the merging of pico projector into portable consumer electronics, which is considered to fuel the market growth across the globe. Pico projectors are small in size and light in weight, compared to traditional business projectors. They are flexible and can be connected to n number of devices like PC, DVD players, laptops, cell phones, and gaming stations. Such benefits offered by pico projectors are likely to trigger its demand in the foreseeable future.
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Pico projectors are capable of producing naked-eye 3D motion pictures with high resolution, which helps a user to watch movies and play games in a glass-free device. Rapid advancements in display technologies like 4K and 8K display panels have highly influenced the market growth across the globe.
On the contrary, pico projectors offer low brightness, which is considered to restrict the market growth in the coming years. These projectors offer a brightness range of 10-1,000 lumens, which is much lower than conventional business projectors.
The prominent players in Pico Projector Market are – Lenovo Group Limited (U.S.), LG Electronics Inc. (South Korea), Microvision, Inc. (U.S.), Sony Corporation (Japan), Aaxa Technologies Inc. (U.S.), Texas Instruments Inc. (U.S.), ZTE Corporation (China), Koninklijke Philips N.V. (Netherlands), Cremotech Co., Ltd. (South Korea), Global Aiptek Corporation (Taiwan) among others.
The global pico projector market has been segmented on the basis of type, component, technology, application, and specification.
- By component, the pico projector market is segmented into light-emitting diodes (LED), illumination system, light source, laser diodes, light pipe, fly-eye lens, and projection lens.
- By type, the pico projector market is segmented into embedded pico projectors and non-embedded pico projectors. Of these, the non-embedded pico projector is estimated to gain prominence and is mainly driven by factors like high-resolution output, ease of connectivity, enhanced brightness level, and greater display size. Other factors like convenience and small form make the segment popular.
- By technology, the pico projector market is segmented into liquid crystal on silicon (LCOS), digital light processing (DLP), projection technologies in augmented reality, and laser beam steering. Of these, the digital light processing is likely to command the largest share in the global market. This advanced processing technology was developed by Texas Instruments and is highly implemented in pico projects. This technology is used in conventional and cinema projector and offers excellent results.
- By specification, the market is segmented into brightness, resolution, and power source.
- By application, the market is segmented into healthcare, retail, business & education, automotive, and consumer electronics.
Geographically, the pico projector market spans across Asia Pacific, Europe, North America, and Rest of the World (RoW).
Considering the global scenario, the Asia Pacific is likely to command the largest market share and is considered to register the fastest rate. The growth can be attributed to the technological advancements in the region, coupled with the rising innovations in the consumer electronics segment. Countries like Japan, China, and Korea are expected to fuel the growth of the market, mainly due to the existence of industry bigshots like Sony Corporation and LG Electronics. Moreover, China being the manufacturing hub of consumer electronic devices, encourages the growth of the pico projector market. Soaring investments in R&D in the field of electronics by players like Samsung Electronics will create growth opportunities for the market.
North America is considered to emerge as a prominent region in the global pico projector market, mainly due to the surging investments in the consumer electronics sector. Strong demand from the healthcare, automotive, education, and research markets are further estimated to trigger the demand from the pico projector market in North America. A lot of buzzes has been created about the pico projector in the field of intelligent traffic systems, life sciences, and vision-guided robotics, which further encourages its growth globally.
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- Technology Investors
- Technology Providers
- Research/Consultancy Firms
- Chip designers and fabricators
- Original equipment manufacturers (OEMs)
- Educational Institutions
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