The demand for a larger display, especially for presentation purposes, was met with the introduction of projectors. There was a transition observed from LCD displays because of multimedia projectors variation of display size and connectivity with computer devices, DVD, VCR, CD player etc. features, which were lacked in other display devices.
Continuous technological advancements led to the introduction of portable small sized multimedia projectors. In addition to this the projection technology also observed a shift from conventional projection technology to laser projection technology. These innovations are corresponded with the increasing demand by end users for an enhanced product.
The global multimedia projector market is further going to witness an exponential growth because of the increased demand of the product. The global market for multimedia projectors is expected to reach US$ 18,524 million in 2022 and US$ 38,063.5 million in 2032, growing at a CAGR of 7.5 percent over the forecast period (2022–2032).
Multimedia Projectors Market: Drivers and Restraints
Digitalization has an impact over the educational system and henceforth, the primary driver governing the growth of multimedia projector is the investment by the government to support digital education system in schools/colleges.
Furthermore, continuous innovations in technologies for providing an enhanced quality output by the multimedia projectors by major vendors are further going to drive the global multimedia projector market.
For instance demand for multimedia projectors functioning over laser technology is boosted as implementation of laser technology for projection has resulted into enhanced output quality.
The output quality for a larger area display is compromised with the size. Henceforth, compromised quality for providing larger area display is the major challenge faced by the major players of multimedia projectors.
Increasing adoption of portable multimedia projectors is observed as it is light in weigh and provides more convenience & mobility when compared with ceiling mounted multimedia projectors.
Henceforth, it is expected to witness a higher growth percentage in the future
Segmentation on basis of Applications for Multimedia Projectors Market
The major segments of Multimedia Projectors market on basis of applications include:
- Packaging
- Agriculture
- Construction
- Mining
- Automotive
- Education
- Offices
- Aerospace
Major applications of multimedia projectors are observed in educational institutes and offices.
Global Multimedia Projectors Market Trends
Transition from ceiling mounted multimedia projectors to portable multimedia projectors and reduction in the size of projectors are the key trends followed by key vendors of multimedia projectors
Global Multimedia Projectors Market Technology Regional Overview
North America, because of the presence of most advanced technologies, is the most dominant region in the global multimedia projectors market.
North America is followed by Europe and APAC as these regions are experiencing increasing number of emerging educational institutes and offices.
These increasing institutes and offices are corresponded by the increasing populations in the respective regions. In addition to this the initiatives taken by the government for the same are also governing the adoption of multimedia projectors.
Global Multimedia Projectors Key Players
Some of the major Multimedia Projectors global players include BenQ, Dell, Epson, Hitachi, InFocus, JVC, LG, Mitsubishi, Optoma,Panasonic, Sanyo, Sharp, Sony, ViewSonic, Vivitek
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