The overall “Projection Mapping Market is estimated at USD 1.37 billion in 2018 and is expected to reach USD 3.56 billion by 2023, at a CAGR of 21.10% during 2018–2023. by Offering (Hardware (Projector, Media Server), Software), Projection Distance (Standard, Short), Dimension (2D, 3D, 4D), Applications (Events, Festival, Large Venue, Retail/Entertainment), and Region - Global Forecast to 2023",  The growth of this market is being fueled by the increasing adoption of projection mapping in media events over the last few years.

The report covers the global projection mapping market on the basis of offering, dimension, throw distance, application, and geography. The projection mapping market based on application is expected to be led by large venues during the forecast period. Growing spending on amusement and theme parks is expected to boost the projection mapping market for large venue application as projection mapping is commonly being used in this application.

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The software market for projection mapping is expected to grow at a higher rate than hardware as hardware devices sustain over a long term, while software licenses have to be updated frequently. This in turn increases the revenue of the software market, and the software market is expected to grow rapidly in the projection mapping market during the forecast period.

North America is expected to hold the largest share of the projection mapping market by 2023. The projection mapping market in North America is estimated to grow considerably in the coming years as North America is major hub for corporate events, shows, and sports events.

The growing availability of 3D and 4D content and increasing use of augmented and virtual reality are expected to boost the projection mapping market by creating opportunities during the forecast period. There is a growing demand for 4-dimensional content projection as it creates more attentive environments for all the applications during the forecast period.

“APAC region to create opportunities for the growth of the projection mapping market”

The projection mapping market in APAC is growing at the fastest rate. APAC is becoming one of the favorable regions for media, sports, and corporate events across the world. All these factors are expected to boost the projection mapping market in these regions. Singapore is one of the major markets for projection mapping in APAC with a high number of events and festivals that are held in Singapore.

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