India, May 25, 2022:BenQ, the leading global innovator of display technologies, has been named the No. 1 brand in the overall projector category once again. Dominating the market BenQ in India has registered a 30% market share vis-à-vis all competition in Q1’22, also holding the first position in terms of market share for both B2C and B2B projector segments.
Asmore homeowners see the value of high-definition projectors, consumers are demanding large screens to watch moviesand other entertainment at home. COVID-19has also been a catalyst contributing to market growth in the home video segment. In consequence, sales volume in the 4K UHD resolution segment increased by 34% YoY in Q1’22, and BenQ was the industry leader with a market share of 53%. Moreover, in terms of sales volume, the portable projectors for home segment grew by 82% YoY in Q1’22, with BenQ leading the market with a 50% market share.Another form factor which has seen stupendous growth is the 4K Laser TV in which BenQ has a formidable 51% market share.
Q1’22 also saw the reopening of educational institutes and corporate offices. This led to the increase in demand for B2B projectors. In this sub-category, the WXGA segment grew the most in volume by 108%YOY and BenQ is the market leader with 50% share in Q1 ’22. BenQ is also the number one brand in the Full HD data projectors with 27% market share.
Analysing the market segment basis light source, there is a clear trend visible in terms of customer preference. While the conventional Lamp segment experienced a growth of only 32%, the Laser Light Source segment grew by a whopping 150% in terms of sales volume in Q1’22 compared to Q1’21. Another significant shift has been towards the preference for LED Light Source segment which increased by 54% in terms of sales volume in Q1’22 indicating that the market is moving towards solid state light sources instead of traditional lamp source.
Rajeev Singh, Managing Director, BenQ India, said, “We are delighted and honoured to be acknowledged as the No. 1 brand in projectors by Futuresource Consulting. With the reopening of educational institutes and offices and the continued booming demand from Home segment, the projector category has overall seen a growth of 38% and BenQ has experienced a growth of 62% as compared to Q1’21. Customer preference is moving towards high end projectors wherein 4K resolution, solid state light sources and accurate colors are the key drivers.”
Futuresource Consulting is a market research consulting company that provides a range of specialist intelligence reports and ongoing personal debriefs to support business decision-making. The current overall performance of BenQ amplifies its commitment to offering its consumers quality products with innovation and technology at its forefront. The company values an open, encouraging, experimental, and inventive culture that strives to keep pioneering and fostering display products across categories with high-end new-age advanced technologies.
About BenQ Corporation
Founded on the corporate vision of “Bringing Enjoyment ‘N’ Quality to Life”, BenQ Corporation is a world-leading human technology and solutions provider aiming to elevate and enrich every aspect of consumers’ lives. To realize this vision, the company focuses on the aspects that matter most to people today – lifestyle, business, healthcare, and education – with the hope of providing people with the means to live better, increase efficiency, feel healthier and enhance learning. Such means include a delightful broad portfolio of people-driven products and embedded technologies spanning digital projectors, monitors, interactive large-format displays, digital cameras and camcorders, mobile computing devices, and lighting solutions. Because it matters.
About BenQ Group
The BenQ Group is a $25+ billion powerhouse comprised of nearly 20 independent companies operating in over 30 countries across numerous industries with a combined workforce of over 100,000 employees. Each Group member is a recognized leader in its own field, contributing to the BenQ Group’s vast resources, broad R&D, and distinct strategic strengths. By leveraging each company’s vertical specialization to create true scale across horizontal markets, the BenQ Group controls a highly efficient value chain with the unrivaled ability to deliver critical components and world-class solutions in the following industries: TFT-LCD, green energy, fine chemicals, and advanced materials, lighting, IC design, precision components, system integration, branded business, and service. The Group is committed to profitable and sustainable businesses that share its long-standing vision of Bringing Enjoyment ‘N’ Quality to Life.
The BenQ Group companies are BenQ Corporation, AU Optronics Corporation (world’s top manufacturer of large-size TFT-LCD panels), Qisda Corporation, Darfon Electronics Corporation, BenQ ESCO Corp., BenQ Materials Corp., BenQ Guru Corp., BenQ Medical Center, BenQ Medical Technology Corp., BenQ AB DentCare Corp., BriView Co., Ltd., Daxin Materials Corp., Dazzo Technology Corp., Forhouse Corp., Lextar Electronics Corp., LILY Medical Corp., and Raydium Semiconductor Corp.
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