According to MarketsandMarkets, the global 3D projector market is estimated to grow from USD 3.1 billion in 2019 to USD 4.4 billion by 2024; at a CAGR of 7.1%. Major factors driving the growth of the 3D projector market include the increasing use of 3D projectors for events, exhibitions, and museums; digitalization in the educational sector, and technological improvements in 3D projectors.
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Cinema application to lead 3D projector market
The market for 3D projectors in cinema is expected to account for the largest share among different application areas during 2019–2024. Rapid transformation is taking place in the cinema industry across the world to enhance the cinema experience with better picture and sound quality. Cinema halls have upgraded to digital screens to display movies in best quality using 3D projectors. Film sequences shot using technologies such as 4K + 3D or ultra-high definition 3D are projected to use 3D projectors, thereby driving theaters toward the adoption of 3D projectors.
DLP-based 3D projectors dominate the market
DLP-based 3D projector is expected to capture the largest market share and is likely to witness the highest CAGR in the 3D projector market during the forecast period. The advantages offered by DLP technology include a projection of brilliant, colorful, clear image with good contrast. Also, the sealed panels that are present in DLP projectors but not in LCD projectors eliminate the possibility of dust particles entering the imaging plane, which could create a dust spot on the projected image. With such advantages, DLP is the most used technology in 3D projectors.
3D laser projectors expected to grow at highest rate during forecast period
Laser light source is expected to grow at the highest rate for 3D projector market during the forecast period. Its advantages such as higher brightness consistency, low maintenance, no lamp replacement cost as laser-based 3D projectors are lamp less, and long life span assist in the growth of the segment.
APAC to lead 3D projector market
In terms of geographic coverage, the 3D projector market has been segmented into North America, Asia Pacific (APAC), Europe, and Rest of World (RoW). APAC is expected to continue to lead the 3D projector market during 2019–2024. APAC includes countries such as China, Japan, India, and South Korea. The installation of 3D projectors by movie theaters is on the rise due to the popularity of 3D movies among audiences in APAC. Also, digitalization in the education sector with the support of various governments in the region are expected to drive the market in APAC. Presence of leading players, including 3D projector providers such as Sony, Epson, BenQ, NEC, Vivitek, and JVCKenwood, also provides an opportunity for the growth of the said market in this region.