The global pico projector market is expected to reach USD 2.39 billion by 2022, according to a new study by Grand View Research, Inc. Smartphone proliferation coupled with high convenience when integrated with portable electronic devices is anticipated to elevate demand. Technological advancements have resulted in enhanced contrast ratio and high pixel quality. Portability and compatibility with Wi-Fi, WiMax, and 3G/4G technologies offered by these products is estimated to drive industry growth.
Pico projectors have the ability to project content from mobile and other electronic devices onto a wall, notebook, or portable projection screens. Strong economic growth coupled with rising consumer disposable income may catalyze adoption particularly in consumer electronics and automobiles. Increasing adoption of smart devices and the advent of Internet of Things (IoT) may catapult demand over the next few years. The industry is poised for growth due to expanding application areas and increasing demand for mobility across all sectors. Growing adoption of Bring Your Own Device (BYOD) policies in the corporate sector may also spur product demand.
Further Key findings from the study suggest:
- Embedded devices accounted for over 35% of the overall revenue in 2014, and are expected to witness significant growth over the forecast period owing to widespread usage in portable consumer electronics. Smartphone proliferation is another factor driving growth over the forecast period.
- USB pico projector industry is estimated to exhibit rapid growth over the coming years attributing to rising demand across several application areas including aerospace & defense, automotive, business & education, consumer electronics, and healthcare. The standalone segment is anticipated to lose volume share owing to issues such as low brightness and high cost associated with these devices.
- LBS technology segment is expected to witness significant growth over the coming years owing to several benefits offered by this technology type including better image quality and relatively high brightness which may result in enriched customer experience.
- North America accounted for over 30% of the overall revenue in 2014. This may be primarily attributed to early technology adopters ensuring faster projector adoption in the region. Asia Pacific pico projector market is estimated to witness substantial growth over the coming years owing to rising consumer disposable income paired with growing demand for portable consumer electronics in the region.
- Key players in the industry include 3M, AAXA Technologies, Microvision Inc., Samsung Electronics Co. Ltd., Sony Corporation, STMicroelectronics N.V., Texas Instruments, and Coretronic Corporation. Industry participants strive to develop products with enhanced image quality, resolution and brightness. Prominent players also emphasize on developing new generation HD micro-display chips for enhancing product offering.
Grand View Research has segmented the global pico projector market on the basis of product, technology, application and region:
Pico Projector Product Outlook (Volume, Thousand Units & Revenue, USD Million; 2012 – 2022)
- Embedded Projector
- Standalone Projector
- Media Player Projector
- USB Projector
- Laser Projector
Pico Projector Technology Outlook (Volume, Thousand Units & Revenue, USD Million; 2012 – 2022)
- Digital Light Processing (DLP)
- Laser Beam Steering (LBS)
- Liquid Crystal on Silicon (LCoS)
- Holographic laser projection
Pico Projector Application Outlook (Volume, Thousand Units & Revenue, USD Million; 2012 – 2022)
- Consumer electronics
- Aerospace & defense
Pico Projector Regional Outlook (Volume, Thousand Units & Revenue, USD Million; 2012 – 2022)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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