The overall Laser Projection Market is predicted to be worth USD 4.57 billion in 2018 and to reach USD 10.53 billion by 2023, at a CAGR of 18.2% between 2018 and 2023, according to the research report on "Laser Projection Market by Product Type (Laser Projector and CAD Laser Projection System), Illumination Type (Laser Phosphor, Hybrid, RGB Laser, Laser Diode), Vertical (Enterprise, Public Places, Cinema, Education), and Geography - The Laser Projection Market is expected to increase as a result of the significant benefits that laser projectors have over conventional bulb projectors and the growing use of laser projection technology in a variety of applications.
During the forecast period, laser phosphor projector is anticipated to hold a significant market share.
In 2018, the laser phosphor projector is anticipated to command the market. Laser phosphor projectors are the best choice for high-use environments including boardrooms, classrooms, places of worship, museums, and locations for location-based entertainment because to its long lifespan and low maintenance requirements. Reduction in total cost of ownership is one of the main advantages of employing laser phosphor (TCO). The market is anticipated to be driven by the rising use of laser phosphor-based projectors for a variety of applications.
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Between 2018 and 2023, the laser projection market for movies will develop at the fastest rate (CAGR).
During the forecast period, the cinema market is anticipated to develop at the greatest CAGR. Players in the laser projection market could have plenty of chances as a result of the cinema vertical. There are prospects for the laser projector market to expand due to the rising number of movie theatre screens around the world and improvements in projection technology with lower maintenance costs. One of the top manufacturers of high-brightness laser projectors for theatre use is Barco.
Between 2018 and 2023, APAC is anticipated to account for the majority of the laser projection market.
During the forecast period, Asia Pacific is anticipated to account for the highest share of the laser projection market. Between 2018 and 2023, China is anticipated to dominate the APAC laser projection market. With significant demand coming from nations like China and India, the APAC region dominates the laser projection market for the education and movie industries. During the projected period, APAC is anticipated to offer a lot of growth potential for the laser projection market.
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Panasonic Corporation, Sony Corporation, Seiko Epson Corporation, Barco NV, NEC Display Solutions, BenQ Corporation, Casio Computer Co., Ltd., Optoma Corporation, The Ricoh Company, Ltd., and Delta Electronics Industry Co., Ltd. are the major players in the laser projection market. The report also includes the profiles of companies such as Canon Inc., Christie Digital Systems, Digital Projection, Dell, FARO Technologies, Inc., Hitachi Digital Media Group, LAP GmbH Laser Applikationen, ViewSonic Corporation and Xiaomi Inc.
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