Laser Projection Market Size, Share, Demand Growth, Opportunity by 2023

Posted June 23, 2022 by avinashgogawale14

The Laser Projection Market was valued at USD 4.57 billion in 2018 and is expected to reach USD 10.53 billion by 2023, at a CAGR of 18.2% between 2018 and 2023.
The Laser Projection Market is expected to be worth USD 10.53 billion by 2023, at a CAGR of 18.2% between 2018 and 2023. Rising demand for high-brightness projectors and growing demand for RGB laser projectors in cinema are expected to create significant growth opportunities for players in the Laser Projection Market during the forecast period. The major factor driving the growth of the laser Projection Market is the significant advantages of laser projectors over traditional lamp projectors.

Key Strategies adopted by Major Players in the Laser Projection Market between 2015 and 2018 include product launches and developments, joint ventures, partnerships/agreements/collaborations, and contracts. Companies such as Panasonic (Japan), Sony (Japan), Epson (Japan), Barco (Belgium), and NEC Display Solutions (Japan) have adopted these strategies to expand their customer base and enhance their product portfolio.

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Panasonic (Japan) ranked first in the Laser Projection Market in 2017. It is one of the largest electronic product manufacturers in the world. The company is a well-known brand in the projector market. It offers various types of projectors, such as home cinema projectors, large venue projectors, portable projectors, and short throw and ultrashort throw projectors. The company has innovated technologies and products owing to its strong R&D function. Panasonic consists of various business domains, each of which has its distinct R&D, production, and sales functions. The company invested USD 4.03 billion in R&D in 2017. The company offers its products for various technologies, such as laser, 4K solutions, and digital link. The company has installed its PT-RZ12KJ laser projector in the lecture hall of Hiroshima City University (Japan). PT-RZ12KJ offers 12,000 lumens of brightness with high 20,000:1 contrast ratio. This projector offers better picture quality for students participating in lessons incorporating film and visual art and improves the learning and study environment.

Sony (Japan) ranked second in the Laser Projection Market in 2017. It is one of the leading manufacturers of audio, video, imaging, gaming, communications, and information technology products for the consumer and professional markets. Sony is diversified in terms of its product/service offerings and geographic base. The company operates in ~200 countries, and its primary manufacturing facilities are located in Asia, including Japan. Sony’s businesses operate in intensely competitive markets characterized by changing consumer preferences and rapid technological innovations. The company continuously provides high-value-added products and services, by which Sony aims to differentiate itself in the highly competitive market of consumer electronics. Sony has strong focus on R&D as part of its strategy for extending existing brands and introducing new ones. The strong focus on R&D thus enables the group to develop products with advanced features and recover its product base, which, in turn, will strengthen its product portfolio. In January 2018, the company launched the ultrashort throw technology and the advanced vertical drive technology of the glass sound speaker, LSPX-A1, to provide a transformative cinematic experience with large-screen 4K images and amazing sound quality.

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Tags laser projection market
Last Updated June 23, 2022