WILMINGTON, DE / ACCESSWIRE / February 22, 2023 / Transparency Market Research Inc. - The global portable projector market value stood at US$ 1.7 Bn in 2022 and is estimated to reach US$ 3.2 Bn by 2031. The global industry is projected to expand at a CAGR of 7.4% between 2023 and 2031. Increase in use of projectors in the educational sector and technological advancements in projectors are major market drivers for the portable projector industry. It is anticipated that greater usage of portable projectors in the entertainment industry would open up new business prospects.
Additionally, the gaming industry's growth presents attractive prospects for the development of the global portable projector market.Leading companies including BenQ, Xiaomi, and LG Electronics are concentrating on creating highly advanced smart projectors in order to increase their sales. A number of manufacturing firms are funding R&D projects to develop a brand-new range of products to increase their market share in the global portable projector market. However, the market is constrained by the lack of fixed projectors, which is a major factor impeding market growth.
Handheld projectors, mobile projectors, pico projectors, and micro beamers are other names for portable projectors. They can be taken anywhere and are a scaled-down version of the projector itself. Similar to the original projector, portable projectors are small electronic devices used as projection screens. Application areas for portable projectors include entertainment, education, and business. Smart gadgets can be connected to them in various ways. Users are able to connect their devices in order to display photos or other information for presentations and during informal occasions.
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Key Findings of Market Report
- Based on technology, digital light processing (DLP) technology is expected to lead the global market since it produces images with excellent clarity, color, and contrast. Each micro mirror is separated from the next by less than 1 micron. As a result, there is less gap between pixels, which makes the final image appear sharper. Consequently, a higher share is anticipated for DLP technology in the global market between 2023 and 2031.
- Based on end-use, consumer electronics represent a sizeable portion of the global industry. Increase in use of consumer electronics, including tablets, laptops, cellphones, and gaming consoles, opens up a potential market opportunity for portable projectors. The younger population's propensity toward gaming is expected to drive business opportunities in the global portable projector market.
Global Portable Projector Market: Growth Drivers
- Digital revolution is now transforming the education industry. Digital technologies are widely embraced by educational institutions throughout the world as they work to raise standards of instruction. Integrating digital resources into the conventional teaching approach enhances instruction and facilitates students' conceptual understanding. Numerous universities and schools are dedicated to giving their students the latest technical tools to help them in their studies. Universities and institutions across the globe are raising the standard of online education. In addition to tablets and PCs, portable projectors are used by colleges and schools to enhance teaching strategies and increase student engagement. Therefore, it is anticipated that a rise in market demand for portable projectors would be driven by the education sector.
- According to market forecast, technological developments in portable projectors would drive industry growth. Since portable projectors are no longer cumbersome and complicated, consumers can now carry them in their pockets owing to rapid technological advancements. Present-day portable projectors come with storage components that can both connect to the Internet and save relevant information. They come with HDMI, USB, and MHL connectors that make it simple to connect tablets, cellphones, and laptops in order to view information. Furthermore, with the rapid advancement of display technology, including 8K and 4K display panels, the picture quality of portable projectors is likely to improve.
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Global Portable Projector Market: Regional Landscape
- Based on region, North America is a leader in both innovation and technological advancement. Canada and the US are observing an increase in portable projector sales due to their small size and sophisticated Wi-Fi and HDMI interface compatibility. Moreover, the adoption of portable projectors is estimated to increase in the region as more new applications for projectors are introduced. Portable projectors are likely to find applications in the fields of vision-guided robots, intelligent transportation systems, and life sciences. Presence of extensive and advanced IT infrastructure in North America is expected to drive market development.
Global Portable Projector Market: Key Players
Some of the key players in the global portable projector market are:
- Xpertech Systems LLP
- ASUSTeK Computer Inc.
- ViewSonic Corporation
- Xiaomi Corporation
- LG Electronics
- InFocus Corporation
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Global Portable Projector Market: Segmentation
Type
- Standalone Portable Projectors
- Embedded Portable Projectors
- Media Player
- USB Projector
Technology
- Digital Light Processing (DLP)
- Liquid Crystal Display (LCD)
- Liquid Crystal on Silicon (LCoS)
- Others (LED, Laser, etc.)
Projector Weight
- Below 4.9 lbs
- 5 lbs - 10 lbs
- Above 10 lbs
Projector Image Size
- Below 50 Inches
- 50 - 200 Inches
- Above 200 Inches
Connectivity Technology
- Wired
- Wireless
Price
- Low (Below US$ 150)
- Medium (US$ 150 - US$ 300)
- High (Above US$ 300)
End-use
- Corporates
- Media Production/Content Houses
- Education Facility
- Gaming
- Home Entertainment
- Others (Bar & Lounges, Government Institutions, etc.)
Distribution Channel
- Online
- Offline
Regions
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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