Laser Projection Market Demand, Top Players, Driving Factors, Key Vendors and Forecast 2023

Posted October 21, 2022 by avinashgogawale14

The Laser Projection Market is anticipated to grow from its 2018 value of USD 4.57 billion to USD 10.53 billion between 2018 and 2023 at a CAGR of 18.2%.
By 2023, Laser Projection Market is anticipated to be worth USD 10.53 billion, growing at a CAGR of 18.2% from 2018 to 2023. During the forecast period, there are projected to be considerable development possibilities for participants in the laser projection market due to the increasing demand for high-brightness projectors and RGB laser projectors in theatres. The substantial advantages of laser projectors over conventional bulb projectors are the main reason propelling the growth of the laser projection market.

Between 2015 and 2018, major players in the laser projection market mostly used product launches and developments, joint ventures, partnerships/agreements/collaborations, and contracts as their primary business models. These tactics have been used by businesses like Panasonic (Japan), Sony (Japan), Epson (Japan), Barco (Belgium), and NEC Display Solutions (Japan) to increase their customer base and diversify their product offerings.

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In 2017, the market for laser projection was led by Panasonic (Japan). One of the biggest producers of electronic goods worldwide is it. The business has a strong reputation in the projector industry. It offers many different kinds of projectors, including short throw and ultrashort throw projectors, large venue projectors, portable projectors, and projectors for home theatres. Due to the company's robust R&D department, new technologies and products have been developed. Each of Panasonic's numerous business categories has its own own R&D, production, and sales operations. In R&D, the corporation spent USD 4.03 billion in 2016. The business sells its goods for a variety of technologies, including laser, 4K solutions, and digital links. Hiroshima City University (Japan) lecture hall now boasts a PT-RZ12KJ laser projector thanks to the corporation. The PT-RZ12KJ has a high 20,000:1 contrast ratio and 12,000 lumens of brightness. This projector enhances the learning and study atmosphere while providing students partaking in sessions involving film and visual art with higher picture quality.

In 2017, Sony (Japan) came in second on the market for laser projection. It is a top producer of goods for the consumer and business industries in the areas of audio, video, imaging, gaming, communications, and information technology. Geographically and in terms of the products/services it offers, Sony is diversified. The corporation has operations in over 200 nations, and Japan is only one of the Asian nations where its main manufacturing facilities are situated. The companies of Sony compete fiercely in marketplaces with shifting consumer tastes and quick technology advancements. In order to stand out in the very competitive consumer electronics market, Sony consistently offers high-value-added goods and services. As part of its strategy for growing existing brands and launching new ones, Sony places a major emphasis on R&D. The group is thus able to develop products with cutting-edge features and restore its product base thanks to the strong emphasis on R&D, which in turn will expand its product portfolio. In order to deliver a revolutionary cinematic experience with big-screen 4K visuals and incredible sound quality, the business launched the ultrashort throw technology and the sophisticated vertical drive technology of the glass sound speaker, LSPX-A1, in January 2018.

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Last Updated October 21, 2022