The DLP Projector Market is expected to register a CAGR of 5.9% during the forecast period of 2022-2031. Digital light processing (DLP) projectors use a display device which includes optical micro electro mechanical technology using a digital micromirror device.
– The increase in the number of digital screens in the film industry, growing digitalization in the education sector, and increasing adoption of 3D projection in emerging applications are the factors that are expected to drive the market during the forecast period.
– Demand for short-throw DLP projectors and ultra-short-throw DLP projectors is higher as compared to normal-throw DLP projectors, and this is expected to boost the market growth in small-space applications. As these small-space applications are accompanied with business, entertainment, and education sectors, they are further anticipated to positively impact the market growth.
– Owing to advantages such as high contrast feature, reliability, reduced pixilation, durability, and portability, these projectors are becoming popular in the market. Conversely, high cost and lack of knowledge may hinder the global DLP projector market in future.
– COVID-19 is having a significant negative impact on Electronics Industry. A significant amount of uncertainty exists because of the changing scope as well as the reactions by governments and companies. Dependencies in the supply change and availability of critical components are likely to hinder the market growth of DLP Projector Market.
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Key Market Trends
Increasing Number of Digital Screens in Film Industry is Expected to Drive the Market Growth
– Increasing number of digital screens in film industry is expected to drive the market growth as conversion of analog screens into digital screens is helping DLP projectors gain popularity. Number of films released all over the world has increased during the recent years, further driving the DLP projector market.
– DLP projectors are used in the film industry because of the increase in the number of 3D films and their cost-saving benefits over traditional projectors. Companies such as Barco N.V. (Belgium), Christie Digital Systems Inc. (U.S.), and NEC Corp. (Japan) are some of the major manufacturers of DLP projectors for the film industry.
– DLP projectors operate fast and provide extremely high-contrast pictures. Moreover, DLP projectors are generally smaller and lighter than other types of projectors which is likely to boost the usage of DLP projectors in Home Entertainment & Cinema industry.
– According to SAPPRFT (State Administration of Press, Publication, Radio, Film, and Television), China is anticipated to have over 60,000 cinema screens by 2020. The increasing number of movie screens and the interest of viewers in 3D movies is expected to drive the growth of the market.
Asia-Pacific is Expected to Hold Largest Market Share
– The Asia-Pacific region is expected to dominate the DLP projector market, during the forecast period. The major factors driving the scale and growth of the Asia-Pacific market are the increasing investments in the consumer electronics market, as well as the strong demand from the automotive, healthcare, and education and research markets.
– Increasing adoption of advanced technologies in Asia-Pacific’s entertainment segment offers an opportunity for market growth. A growing bias for 3D films from the audience in APAC countries has been observed which is likely to propel the growth of market.
– A growing number of film screens and viewer interest in 3D films drives market growth for 3D DLP projector in APAC. A growing demand for home theater and gaming projectors provides an opportunity for the APAC market as there are many players offering low-cost projectors for applications for home theater.
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– Asia Pacific is anticipated to be the largest player in the global DLP projector market as it is considered as the home for many companies. Moreover, with the improvement in the economy, it is likely to fuel up the investments in the R&D activities for advanced technologies which will further boost the market in this region.
Competitive Landscape
The DLP projector market is highly competitive owing to the presence of many large players in the market operating in domestic as well as in the international market. The market appears to be moderately concentrated with the major players adopting strategies like product innovation and mergers and acquisitions. Key players are Texas Instruments Inc., BARCO Technology Company and Optoma Corporation among others. Recent developments in the market are –
– April 2020 – Barco partnered with Australian distributor World’s Best Technology Distributors (WBT) for its portfolio of projectors and AV technology.The collaboration will help with Barco’s national expansion and enable the business to enter new vertical markets such as retail signage, display and education.
– March 2020 – BenQ has introduced their range of Smart Projectors to cater to the new working trends, BenQ Smart Projectors give a Wireless, Driver-less, PC-less & Effort-less experience for Smarter Meetings.BenQ Smart Projectors comes with a USB Type-A port that supports a wide range of file formats including JPEG, PDF, Microsoft Word, Excel, and PowerPoint files.
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