The global laser projection market is anticipated to grow at a significant CAGR of around 17.2% during the forecast period (2024-2031). The market growth is driven by the rising demand for laser projection in applications such as cinemas, including the rising trend for digital learning solutions in developed and emerging economies, such as India, and the rising digitalization in the retail sector, for the marketing of products. Furthermore, the continuously evolving media and entertainment sector with the opening of new theatres and shopping malls is significantly contributing to the market growth during the forecast period.
The global laser projection market is segmented by illumination type (laser phosphor, RGB laser, laser diode, and hybrid illumination), by resolution (WUXGA, WQXGA, and 2K, WXGA &XGA, 4K, and HD and Full HD), by end-users (education, enterprises, media and entertainment, retail, and others), and geography (North America, Europe, Asia-Pacific, and the Rest of the World).
Market Dynamics
- RGB laser segment is projected to hold considerable growth during the forecast period as it provides the most dynamic colors, leading to enhanced image uniformity, color reproduction, operational lifetime, and brightness. It offers the most expanded color gamut of any projection technology, providing for the highest segment growth.
- Asia-Pacific laser projection market is estimated to witness a considerable CAGR, owing to the rising adoption of laser projection technology in cinemas and expansion of the retail sector in the region. Moreover, the presence of local market players in China and Japan, and the rising trend for digital learning in emerging nations such as India, are propelling the regional market growth.
The key players in the global laser projection market are contributing significantly to the market growth, by providing advanced technology-based products and expanding their geographical presence across the globe. The key market players include Barco NV, NEC Corp., Panasonic Corp., Sony Corp., and Seiko Epson Corp.
Recent Developments
- In August 2024, Epson launched a high-brightness laser projector lineup – the Q-Series 4K 3LCD Laser Projectors. It accommodates a variety of viewing environments with color (IDMS-rated) and white brightness (ISO-rated) performance. The products are available at price points from $7,999 to $29,999. QB1000 model delivers 3,300 lumens, while the QL3000 and QL7000 models offer up to 6,000 and 10,000 lumens of brightness respectively.
- In June 2024, Optoma introduced K UHD laser projectors -Optoma ZK810T and ZK810TST at InfoComm 2024. It offers a resolution of 4K UHD laser projectors and is a fixed-lens short-throw projector. Optoma ZK810T and ZK810TST is a short-throw option. It features a 4K telecentric lens design with full motorized lens-shift and focus and a fixed lens at 8,500 lumens of brightness. It offers a contrast ratio of 3,000,000:1, color - HDR and HLG compatibility, throw ratio- ZK810T 1.26:1 to 2:1 / ZK810TST: 0.65:1 to 0.75:1, light source- DuraCore laser with up to 30,000 hours of operation (eco mode), image size- Up to 300”, installation features- 1.15x zoom (ZK810TST) and 1.6x zoom (ZK810T), 24/7, 360-degree and portrait mode operation, full motorized lens shift and four-corner correction, I/Os- 2x HDMI in/ 1 HDMI out, USB-A, HDBaseT, D Sync in and out, 12V trigger, LAN, RS-232 control and 2x 10W speakers with audio out.
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