USD 1.57 billion
Report ID: SQSG45I2040 | Region: Global | Published Date: December, 2022 | Pages: 157 | Tables: 65 | Figures: 75
Portable Projector Market size was valued at USD 1.57 billion in 2021 and is poised to grow from USD 1.69 billion in 2022 to USD 3.2 billion by 2030, growing at a CAGR of 7.4% in the forecast period (2023-2030).
Portable projectors are also known as mobile projectors or small projectors due to their portability. These projectors utilise hardware and software that has been scaled down to a tiny size in order to project digital images onto a nearby display or viewing surface. The marketability of portable projectors is enhanced by their ease of setup and portability. Companies involved in the production of portable projectors are now concentrating on clearer image quality by removing various artefacts from the projector's display, which will produce more accurate results. The portable projector market is expected to enjoy higher sales thanks to this improvement. Today, portable projectors are used across numerous sectors such as consumer electronics, business, education, and others.
The rapid expansion of the portable projector market is attributable to the quick digitalization in the education industry. Governments from many nations around the globe make significant investments to familiarise the education sector with cutting-edge technology-based equipment. The widespread use of cutting-edge learning techniques, such as distance learning, smart learning, mobile learning, and electronic learning, would probably support the adoption of portable projectors, with the market for these devices experiencing significant growth due to continuous technological advancement. The rapidly expanding demand for handheld projectors for home entertainment is anticipated to fuel the expansion of the portable projector market in the coming year. Additionally, the fierce competition in the market for portable projectors encourages sellers to lower the price of these products dramatically in order to appeal to a larger audience. Thus, there would be profitable prospects for the portable projector market to expand as a result of the significantly increasing demand and cost reduction.
US Portable Projector Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 1.57 billion
Digital Light Processing
Digital Light Processing
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Global portable projector market is segmented into technology, application and region. Based on the technology, the global portable projector market is segmented into digital light processing (DLP), liquid crystal on silicon (LCoS), laser beam steering, holographic laser projection. Based on the application, the global portable projector market is segmented business, education, consumer electronics, and others. Based on region, it is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Portable Projector Market Analysis by Technology
Manufacturers mostly utilise portable projectors based on DLP technology due to their advantages over portable projectors based on LCD and Liquid Crystal on Silicon (LCoS) technologies, including higher native contrast, smaller size, and lighter weight. The images produced by DLP projectors are vivid, clear, and have good contrast.
Portable Projector Market Analysis by Application
It is anticipated that the portable projector market will expand as a result of consumers' increasing propensity to use portable, lightweight electronics and their growing interest in designing personal entertainment hubs where they can stream movies, video games, sports, music, and other media from their smartphones, tablets, and laptops.
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Given the huge demand for consumer electronics in the region, North America is most expected to account for a sizeable portion of the global portable projector market. The United States makes a large investment in the introduction of cutting-edge technologies and high-end equipment in the educational field. The majority of the people in the region have access to cell phones, computers, and other cutting-edge tools for their education. Due to the region's significant consumer electronics sector, which is the primary use for portable projectors, North America has been a significant contributor to the growth of the entire portable projector market. The US makes enormous investments in the adoption of cutting-edge technological tools in the educational field. Since the majority of students have access to computers or cell phones, students' ability to adapt to and embrace new technologies contributes to both their academic and personality development. However, due to COVID-19's negative effects on the commercial and infrastructure sectors, the US is anticipated to experience a considerable decline in the size of its market in 2020. The closure of educational institutions and halted operations in the corporate sector could have a significant impact on the adoption of portable projectors in 2020.
Europe and the Asia-Pacific in the global portable projector market are growing at a faster rate than the North America. The corporate sector's increasing adoption of workplace policies like the digital workspace and the bring your own device (BYOD) policy is propelling the market expansion in the Europe. In the projection period, the Asia-Pacific region is likely to become one of the key portable projector market.
This expansion is attributed to an increase in government funding for the field of technologically advanced education. Governments in a number of Asian nations, such as China, India, Japan, or Australia are actively working to integrate cutting-edge technologies and feature-rich educational products into their educational systems; as a result, portable projector adoption in the region is likely to be influenced by these initiatives. The market is expanding as a result of the steadily rising demand for consumer electronics equipment.
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Portable Projector Market Driver
With the development of technology, portable projectors are no longer bulky, complicated, and difficult-to-use gadgets that provide subpar quality and strange effects. They are portable and simple to use for commercial, academic, and recreational applications. Modern portable projectors come with memory devices to save pertinent data and an internet connection. Additionally, portable projectors have simple USB, HDMI, and MHL connectors that may be connected to tablets, computers, and smartphones for easy information access. Additionally, portable projectors feature built-in speakers and batteries and offer high resolutions, such as HD and full HD, for improved picture quality. These gadgets fit neatly in pockets, which is one of the key aspects driving the growth of the portable projector market. In fact, they are becoming a practical choice for home entertainment because portable projectors can be purchased for a fair price,. They are primarily purchased based on their portability, convenience, and price points. These days, businesses now sell high-quality 2D and 3D portable projectors that use less electricity and produce little heat.
Researchers are starting to build projection-specific software and interaction approaches in order to investigate a wider range of potential uses for phones with embedded pico projectors, which are starting to be marketed as devices for corporate presentations and media consumption. In a study done at the University of California, one important finding is that users may quickly take advantage of these devices' new features to create engaging effects by using representational techniques like superimposition, scaling, translation, and motion. As a result, even the "simple" projector phone platform offers new ways to communicate. For instance, LG debuted its CinebBeam PH30N projector in 2020 with 720p resolution. A rechargeable battery with a 2-hour battery life is built into the projector. Throughout the study period, more innovations are anticipated to help the portable projector market as a whole.
Portable Projector Market Restraint
The majority of portable projectors use DLP technology, which is chosen because it provides vivid image quality and great contrast when compared to other technologies. However, the "rainbow effect" is a distinctive visual artefact that might appear on a screen when images are modulated using a rotating colour wheel in DLP. Due to the wheel's successive colour update, colours have begun to separate into distinct red, green, and blue hues. The rainbow effect does not occur with LCD projectors since they constantly give a steady red, green, and blue image at the same time. Thus, it is hampering the growth of the portable projector market.
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There are numerous small and large providers in the highly competitive portable projector market. Most of the time, these vendors compete on the basis of their offerings, innovations, performance, cost, quality, selling price, financial stability, and distribution system. On organic business growth tactics including new product launches, product improvements, product approvals, etc., a number of significant companies focus. Other effective company growth tactics that major players have implemented to strengthen their position in the global market include strategic alliances, collaborations, acquisitions, and mergers. These tactics have made it possible to grow both the business and the loyal consumer base.
Portable Projector Market Top Player's Company Profiles
Portable Projector Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global portable projector market analysis, improvements in portable projector technology and growing integration of pico projectors in smartphones and other portable devices are driving the growth of the global portable projector market.
|Market size value in 2021||USD 1.57 billion|
|Market size value in 2030||USD 1.69 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Portable Projector Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Portable Projector Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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