Saturday, February 15, 2025
spot_img

Projectors Market Set to Grow Significantly Driven by the Increasing Demand from Home, Education, and Corporate Segments

spot_img
spot_img
- Advertisement -
- Advertisement -

The projector market in APAC is witnessing significant growth due to the increasing use of projectors in the home entertainment, industrial, education, corporate, government and media segments.

Global Projector Market – Size and Forecast 2024-2028

The projector market size is estimated to grow at a CAGR of 5.32% between 2023 and 2028. The market size is forecast to increase by USD 4.81 billion. The growth of the market depends on several factors, including the increasing adoption of projectors in the entertainment industry, the growing digitization in the education sector, and the emerging use of projectors in the corporate sector.

The report includes a comprehensive outlook on the projector market, offering forecasts for the industry segmented by Technology, which comprises LCD, DLP, and LCoS. Additionally, it categorizes the Type into short, ultra-short, and normal, and covers Geography regions, including APAC, Europe, North America, South America, Middle East, and Africa.

APAC (led by China and India) is estimated to contribute 42% to the growth of the global market during the forecast period. The projector market in APAC is witnessing significant growth because of the increase in the demand for projectors from the industrial, education, and corporate sectors and the media and entertainment industries. Besides, countries like India, Brazil, and Canada are spending substantial amounts on the education sector, which will help in the adoption of interactive projectors which have become an integral part of classrooms.

Global Projector Market Customer Landscape

Moreover, consumers are transforming their TV systems into advanced projectors and screens to experience big-screen projections. Home cinema theaters, outdoor projectors, and rooftop restaurants with screens, among other new trends, are playing a major role in promoting the growth of the projector market in APAC. In addition, companies like The Optoma Group have their continental headquarters in China, which leads the regional projector market.

Projector Market Segmentation by Technology

The Projector Market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

NCN took the opinions and insights of some of the leading projector brands operating in India which we listed below.

How different projector brands performed in FY2023-24 in India!

With the increasing disposable incomes, people want to spend more on entertainment, so the projector sales are increasing in the consumer space. On the other hand, using projectors to teach children is becoming a common place. Next, many offices are using projectors for presentations and to train employees.”

Mr. Muneer Ahmed, Vice President, Sales and Marketing, ViewSonic India, “We maintained our dominaton in the market with cutting-edge technology and innovation in the projector division to maintain the market share. We observe an overwhelming response for our home entertainment segment and LED technology. For our range of projectors, we achieved Number 1 position for LED projectors in Q2 of 2023, with a market share of 86.72%, according to the FutureSource India reports. In addition to this, we are amongst the top three DLP projector brands in India, offering best-in-class features and viewing experience. In addition, we introduced a new range of projectors, from affordable to premium, catering to the needs of various consumers. We have also launched X series and PX projectors, which are compatible with Xbox.”

Mr. Vijay Sharma, Country Head, Optoma India, “In 2023, Optoma maintained its top position in various projector segments worldwide, including 4K UHD, laser projectors, and laser TV projectors. We saw strong sales in India, becoming the leading brand in 4K UHD projectors globally. Optoma also gained significant market share in home projectors in India. This success continued into the first quarter of 2024, with the aim to stay No. 1 in key categories like Laser and Home projectors. With a new lineup of mainstream laser projectors, Optoma aims to further increase its market share in ProAV and Education sectors, with the goal of more than doubling revenue by the end of 2024. According to Pacific Media Associates (PMA), Optoma holds a 49% share in the 4K UHD segment, 43% in laser projectors, and 60% in laser TV projectors. Recent surveys also place Optoma among the top three projector brands globally.”

Mr. Harish, Sr. GM – Visual Products, Sales & Marketing, Epson India, “In FY2023-24, around 200,000 units of projectors were sold in India, with Epson dominating the market share with approximately 39%. We posted a growth of 17% from the FY2022-23 and have been the leader in the Indian projector market since FY2016-17 in India. Globally, Epson has held the title as the No. 1 projector brand in the world for 22 years, with a market share of 32.3% in FY2022-23.”

Mr. Rajesh Doshi, Director & Co-Founder, Zebronics, “As a brand, Zebronics has received overwhelming response from its customers when it comes to the projectors as we have catered to a wide spectrum of requirements, be it portable series or smart projectors. We have introduced a wide range or Smart LED Projectors that boast multiple connectivity options like BT 5.0, HDMI, USB ports etc and many models have screen size up to 508 cms with powerful in-built speakers and Dolby Audio support.”

 Mr. Rishubh Nayar, Director – Sales for India, Enterprise, Christie, “In 2023, Christie continued to excel in the Indian market, demonstrating robust performance across diverse segments and reinforcing our status as a frontrunner in the projection technology. Our projection systems remained the preferred choice across multiple sectors, including government, corporate, experiential installations, and in creating visitor attractions in places such as museums. This widespread adoption underscores the trust and confidence placed in Christie’s solutions to deliver immersive and impactful visual experiences. Notably, we have maintained a leadership position for DLP projectors above 6,000 lumens, a testament to the quality and reliability of our products. As we move forward, we are dedicated to further strengthening our position in this segment, leveraging our expertise and cutting-edge technology to meet the evolving needs of our customers.”

The product-lines of different projector brands

The product-line of a brand usually signifies its strength, scope and the ability to penetrate different segments such as consumer space, education, corporate and government.

Mr. Muneer Ahmed of ViewSonic India, “In FY2023-24, we introduced an extensive range of cutting-edge projectors in India. Oour recently launched X1-4K & X2-4K gaming projectors have been specifically designed to elevate the gaming experience on large screens. Diving deep into gaming, we’ve introduced the PX749 4K projector. With its 4K Ultra HD resolution and HDR compatibility, this projector boasts breathtaking visuals. It is tailor-made for immersive home theater experiences and optimal gaming setups. Our lineup for expansion also includes the LX700 and LS740 projectors, which also cater to home entertainment and gaming. These additions to our projector portfolio signify our commitment to delivering cutting-edge technology.”

Mr. Vijay Sharma of Optoma India, “The Optoma’s latest UHC66LV projector offers super bright unforgettable 4K UHD with 5500 lumens. Packed with the latest technology and features, it boasts HDR and HLG compatibility and amazing color technology for accurate true to life color reproduction. It also features sophisticated PureMotion frame-interpolation processing which eliminates motion blurring or image judder and Full 3D. It delivers sharper, life-like images and richer colors – allowing you to sit closer to the screen and enjoy a more immersive experience. Easy to set up, this stylish projector has a large 1.6x zoom and vertical lens shift for seamless integration into any living space or media room.”

Mr. Harish of Epson India, “We have a wide range of products to cater to all segments – education, corporates, government, rental & staging, e-cinema and home. We are constantly upgrading and launching new innovative models to meet expectations of business and home verticals with our standard throw, short-throw, ultra short-throw and super ultrashort-throw projectors. Epson has 54 Stock Keeping Units (SKU) with brightness ranging from 3,000 to 30,000 lumens. We also cater to specific requirements like hybrid meeting rooms and immersive display solutions (3D projection mapping, digital art galleries, museums, staging events etc).”

Mr. Rishubh Nayar of Christie, “Our latest projector product- lines reflect an ongoing commitment to leveraging advanced technology to address our customers’ AV challenges and to create stunning shared experiences. We’ve introduced state-of-the-art 1DLP and 3DLP laser projectors, catering to various applications. For example, our HS Series 1DLP laser projectors, trusted and widely utilized across India, continue to evolve with new models boasting enhanced capabilities. The latest additions, such as the 4K13-HS and DWU23-HS, offer remarkable features, including 4K UHD resolution and up to 23,650 lumens. Leveraging Christie BoldColor+ technology, these projectors excel in rendering deep blacks on-screen by completely shutting off laser light during black scenes, while ensuring premium color reproduction for natural and realistic visuals. Furthermore, our award-winning Griffyn Series projectors continue to impress audiences. Available in two brightness options of 34,000 or 50,000 lumens, the Griffyn 4K35-RGB and 4K50-RGB are designed for demanding applications such as staging, live events, and projection mapping.”

The latest market and technology trends in the projectors market in India

With increasing usage of projectors in different sectors, the demand has been on the rise. Most advanced features are available today and at affordable costs. Increasing disposable incomes of the people is boosting the demand further.

Mr. Muneer Ahmed of ViewSonic India, “The demand for home theatre projectors has been growing significantly. Consumers are looking for cinema-like experiences at home boosting the demand for high-definition and easy-to-use projectors. Laser projectors are still being picked up in the home entertainment segment. Further, we have seen a huge shift towards sustainable technology in projectors, where LED plays an important role. The LED-based projectors require minimal maintenance and are embedded with time and energy-saving features that increase their efficiency contributing to a greener and more cost-efficient workplace. There’s a growing demand for projectors within the education sector, particularly in schools and universities, driven by the digitalization of educational content and the need for interactive learning environments. Projectors have also increased in the corporate space, where they are employed for meetings, training sessions, and other communication needs.”

Mr. Vijay Sharma of Optoma India, “In the Indian projector market, there is a growing demand for high-definition and ultra-short-throw projectors, driven by the increasing adoption of home entertainment systems and the need for compact solutions in educational and corporate settings. Additionally, there’s a surge in demand for laser projectors due to their longer lifespan, lower maintenance costs, and superior image quality. Furthermore, the integration of smart features such as wireless connectivity and compatibility with mobile devices is becoming increasingly popular among consumers and businesses alike, reflecting a broader trend towards seamless and convenient multimedia experiences. In recent years, the DLP (Digital Light Processing) projector market has seen a notable shift towards emphasizing portable, compact, and sustainable designs.”

Mr. Harish of Epson India, “The following are the key trends in the projector market: 1. Corporates are focusing on having special hybrid meeting rooms that provide a real life like experience during virtual meetings; 2. Initiatives by the government to boost local tourism has led to increased demand for 3D projection mapping on heritage and religious sites, immersive museums, water projections and sound and light shows; 3. Schools, colleges and institutions are upgrading to digital classroom with interactive projector (IFPs)s; 4. With the increase in OTT content and viewership, the demand for a theatre-like viewing experience at home has increased as well. Epson Home Theatre projectors are addressing this by delivering a high quality, big screen experience at homes.”

Mr. Rajesh Doshi of Zebronics, “In India, projector trends favor portability, high resolution (4K included), smart connectivity, and gaming optimization. LED and laser tech are preferred for longevity and energy efficiency. Mini and Pico projectors suit on-the-go needs, while interactive and ultra-short throw models are popular in education and small spaces. Consumers prioritize convenience, immersion, and versatility in their choices.”

Mr. Rishubh Nayar of Christie, “The demand for projection technology in India spans various places like museums, where venue operators are increasingly leveraging technology to enrich audience experiences and drive footfall. Notably, the museums segment stands out as a significant growth market for us in India. Our recent successes in this sector, including projects at esteemed institutions like the Smritivan Earthquake Museum in Gujarat, have revolutionized visitor experiences, setting new benchmarks for engagement and interactivity. Moreover, there’s a substantial interest in deploying projection technology for projection mapping and experiential installations, such as light and sound shows and Son et lumière, at historical monuments, religious sites, and statues of revered figures across the country. Our 1DLP and 3DLP laser projection systems are well-positioned to meet the specific demands of these environments. Cinemas remain another key segment in India where projection technology reigns supreme. We’ve set the standard for cinematic projection with our premium solutions. Our 4K cinema projectors, boasting 20,000 to 60,000 lumens, are ideally suited for premium large format auditoriums and mainstream theaters. Equipped with ultra-fast Series 4 electronics and advanced DLP technology, our native 4K cinema projectors deliver unparalleled visual brilliance.”

Target-segments of different brands

Each projector brand tries to focus more on certain user segments among education, corporate, government, home consumers, etc with projectors designed specifically for those segments.

Mr. Muneer Ahmed of ViewSonic India, “Our product-line primarily caters to home entertainment, corporate, and education, including government institutes and offices. We understand the unique requirements of Indian users and have tailored our products to meet their diverse needs. TheX, M and PX series projectors are perfectly suitable for home entertainment, giving a theatre-like experience at home. In addition, our M series projectors, being portable, have witnessed a huge preference among young consumers and travel-enthusiasts. For corporate and schools, our LS series are ideal for workplaces and school as it offers a lifespan of approximately 30,000 operating hours and lesser power consumption offering cost-effective projection solutions. Some of our projectors come with HD resolution to adopt with the concept of smart classroom, giving crisp and clear visuals.”

Mr. Vijay Sharma of Optoma India, “Optoma primarily targets the education and corporate sectors with its projectors and interactive flat panels, aiming to provide innovative and high-quality audiovisual solutions for classrooms, lecture halls, meeting rooms, and conference spaces.”

Mr. Harish of Epson India, “Education, corporate including IT /ITES, government and home are our key focus segments, and these verticals have tremendous opportunity and growth for projectors. Digital classrooms, hybrid meeting rooms, training rooms, projection mapping, digital art galleries, rental and staging and big screen entertainment at home are pushing the demand for projectors across segments.” 

Mr. Rishubh Nayar of Christie, “As mentioned earlier, our primary target segments encompass various sectors, including government, where substantial investments have been made in infrastructure such as museums and experiential installations like light and sound shows and Son et lumière. Our projection solutions have played a pivotal role in enhancing these venues, creating immersive and engaging experiences for visitors.”

The USPs of projector brands

Different brands are identified by different unique characters in terms of designs, features, quality levels, durability factors. So each brand tries to develop its hallmarks unique to itself.

Mr. Muneer Ahmed of ViewSonic India, “Our R&D team spends substantial amount of time and resources for studying and understanding the dynamic industry and competitors, further developing new products and enhancing the existing ones. We are introducing LED technology in some of our projectors to make them efficient and sustainable for the environment. In addition to this, we are bringing theatre-like audio through our home entertainment projectors embedded with Harmon Kardon speakers. Our projectors are also designed with a focus on eye protection with built-in ultrasonic sensors and batteries along with wireless screen mirroring. Lastly, these projectors also have warranty for three years and excellent after sales customer support.”

Mr. Vijay Sharma of Optoma India, “Optoma is a top projector Brand known for introducing cutting-edge technology ahead of the competition. Last year, we launched our premium 4K laser ultra short throw projector, offering a massive 120-inch screen just inches from the wall or screen. We also debuted the world’s first 240-hour gaming projector.”

Mr. Harish of Epson India, “There are several reasons why Epson projectors are the preferred choice for most consumers. All Epson projectors use Epson’s proprietary 3LCD technology. The Epson’s 3LCD technology ensures equal color and white brightness which helps to deliver up to three times brighter colors as compared to a 1-chip DLP projectors. This means the picture quality is unparalleled. Epson has a wide range of projectors that cater to every need and every segment, with 54 models available in India. Further, the extensive sales & support infrastructure with over 400 service centers in India with onsite service support means that service is easily and conveniently available.”

Mr. Rajesh Doshi of Zebronics, “Zebronics’ projectors distinguish themselves with cutting-edge features such as wireless connectivity and smart TV capabilities, ensuring user-friendly experiences. Balancing affordability with quality, Zebronics appeals to a broad customer base. With a diverse product line-up ranging from portable mini projectors to high-definition Smart Projectors with Dolby Audio, there’s an option for every requirement. Backed by robust customer support, Zebronics guarantees a positive ownership journey, solidifying its position as a top contender in the competitive projector market.”

Mr. Rishubh Nayar of Christie, “Our projectors stand out due to their superior illumination technologies, ranging from laser phosphor to RGB pure laser. Additionally, our projectors are equipped with ultra-fast, intelligent electronics, such as our proprietary CineLife+ and TruLife+ platforms, enabling them to deliver exceptional performance. Christie was the first to introduce 2K at 120Hz to the market, and our continuous innovation led us to be the industry’s first to support 4K and achieve native 4K at high frame rates @ 120Hz at 1.2 gigapixels per second. Moreover, the integration of advanced image processing and show control systems, facilitated by our Spyder and Pandoras Box family of products, enable us to provide comprehensive turnkey solutions. Furthermore, our RGB pure laser projection systems feature Christie LiteLOC technology, ensuring automatic maintenance of color balance and brightness over time, regardless of ambient temperature fluctuations. Additionally, our current RGB pure laser projectors include Electronic Color Convergence (ECC), allowing users to individually select and converge red, green or blue via remote control.”

Supply channel structures, and the ways they educate and motivate partners

An effective supply channel with committed partners plays an important role in the success of a brand. The technology intensive products like projectors need partners who are adept at projection technologies and also have the ability to judge the user needs in each segment.

Mr. Muneer Ahmed of ViewSonic India, “At ViewSonic, we have a reliable and efficient supply channel structure for projectors. We have established partnerships with distributors and dealers across India to ensure the ease of access for our customers in different regions, including Tier 2 and Tier 3 cities. We carefully select dealers based on their expertise and experience to meet customer satisfaction. To educate and motivate our partners, we provide regular training, demos, marketing support and updates on our products and services. We organize workshops, seminars, and webinars to equip them with the knowledge and skills to promote and sell our projectors effectively. We also offer attractive incentives and rewards to motivate our partners to achieve their targets and exceed customer expectations.

Mr. Vijay Sharma of Optoma India, “We work with 18 national partners across India, and we believe in fair and open business practices. We provide various training programs, workshops, and sessions to help our distributors. We have a dedicated team to assist dealers, partners, and distributors, ensuring smooth operations nationwide. While hitting sales targets is important, we also consider factors like helping smaller partners grow and exploring new channels.”

Mr. Harish of Epson India, “We have distributors and channel partners across India to meet demand.We have robust supply chain &onsite service support.”

Mr. Rajesh Doshi of Zebronics, “Our supply channel encompasses e-commerce platforms like Amazon and Flipkart, B2C/B2B markets, and 50,000+ nationwide partners with 135+ service centres, extending reach to Tier-3 and Tier-4 cities. We also partner with the leading retail chains. Education and motivation are fostered through training programs, marketing support, incentives, technical assistance, and regular communication.”

Mr. Rishubh Nayar of Christie, “We work through our channel partners for various vertical markets to ensure availability and efficient distribution of our products. Our supply channel structure is designed to empower our partners and maximize market penetration. To educate and motivate our partners, we conduct regular training sessions and provide comprehensive product knowledge materials through our dedicated partner portal. Furthermore, we offer marketing support to motivate our partners and drive their engagement. Through collaborative marketing initiatives, co-branded campaigns, and lead generation programs, we strive to create a mutually beneficial partnership ecosystem.”

The future plans of brands in terms of new product launches, new features and initiatives

The projector market is set to grow significantly in the coming years driven by the increasing demand from home, education and corporate sectors. The leading brands are trying to offer more advanced features to attract new customers and expand their market shares.

Mr. Muneer Ahmed of ViewSonic India, “In FY2024-25, we will introduce new products and initiatives. We are working on upgrading features in our proprietary software myViewBoard which is a comprehensive learning software suite. This software enhances user experience in interactive projector by providing intuitive, feature-rich tools fostering collaboration and enriched learning experience. Also, we will expand our product offerings in the home entertainment segment.”

Mr. Vijay Sharma of Optoma India, “In FY2024-25, our objective is to establish Optoma as the market leader in three critical areas: home entertainment, professional audiovisual (pro-AV), and interactive flat panels in the education sector. Leveraging the success of our comprehensive range of mainstream laser projectors, we aim to significantly increase our market share in both the ProAV and Education sectors. By the end of 2024, our target is to more than double our sales, exceeding the figures of the previous calendar year.”

Mr. Harish of Epson India, “For FY2024-25, we will launch new innovative and upgraded products to address the demand of several focus segments mentioned earlier. We will promote these products aggressively and launch programs to expand and upgrade our partner base and knowledge.”

Mr. Rajesh Doshi of Zebronics, “We will launch a range of premium LED projectors, complemented by our soundbars and projector screens at affordable prices. Our commitment to provide ‘Premium for Masses’ is essentially central to our goal to be ‘Always Ahead’.”

Mr. Rishubh Nayar of Christie, “Later this fiscal year, we will expand our portfolio in both the 1DLP and 3DLP categories with cutting-edge solutions.”

In a nutshell

Today, there’s a surge in demand for laser projectors due to their longer lifespan, lower maintenance costs, and superior image quality. In terms of technology and innovation, the integration of smart features such as wireless connectivity and compatibility with mobile devices are becoming increasingly popular among consumers and businesses alike, reflecting a broader trend towards seamless and convenient multimedia experiences. In recent years, the DLP (Digital Light Processing) projector market has seen a notable shift towards emphasizing portable, compact, and sustainable designs. The growing usage of projectors in homes, schools, colleges, corporate and government will continue to push the demand for projectors for several years to come.

Covered By: NCN MAGAZINE / projector market

If you have an interesting Article / Report/case study to share, please get in touch with us at editors@roymediative.com , roy@roymediative.com9811346846/9625243429

- Advertisement -
spot_img
spot_img
spot_img