The pico projector market is expected to reach USD 3.44 Billion by 2022, at a CAGR of 14.52% between 2016 and 2022. The growth of the market is propelled by the integration of projection technology with portable electronic device, and introduction of pico projectors with superior specification.
According to the new market research report "Pico Projector Market by Type (Embedded, Non-embedded), Technology (DLP, LCoS, LBS), Specification (Brightness, Resolution, Power Source), Application (Consumer Electronics, Business & Education), Components, and Geography - Global Forecast to 2022", the pico projector market was valued at USD 1.28 Billion in 2015 and is expected to reach USD 3.44 Billion by 2022, at a CAGR of 14.52% between 2016 and 2022. The factors that are driving the growth of the pico projector market include the integration of projection technologies with portable electronic devices and the development of pico projectors with superior specifications.
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“Non-embedded (standalone) pico projectors to hold the largest share of the pico projector market“
Non-embedded (standalone) pico projectors would lead the global pico projector market between 2016 and 2022.
The growth of the pico projector market is driven by factors, such as ease of connectivity, high resolution output, greater display size, and improved brightness level. Moreover, some other factors such as the small-form and convenience makes the non-embedded (standalone) pico projector popular among end users.
“DLP technology market for pico projector is expected to hold the largest share, whereas LBS technology is expected to grow at the highest rate between 2016 and 2022”
Digital light processing (DLP) is a renowned projection technology pioneered by Texas Instruments, Inc. (U.S.). DLP is one of the best technologies in the field of projection engineering and is also widely adopted in pico projectors.
DLP technology is being used in cinema and conventional projector, hence this technology also offers excellent results in the pico projector. Laser beam steering (LBS) is an emerging technology in the field of projection and is patented by MicroVision, Inc.
(U.S.). LBS provides focus-free operation, and vivid and clear picture as compared to other technologies at equivalent brightness level.
“Asia-Pacific (APAC) is expected to lead the growth in the pico projector market between 2016 and 2022”
The growth of the pico projector market in APAC is expected owing to the huge demand of pico projectors from consumer electronics, and business and education segment. Moreover, per capita disposable income and economic activities are increasing in APAC.
Many emerging companies in APAC are engaging in the development of pico projectors. Furthermore, strategies like new product launches are also driving the growth of the pico projectors in APAC.
The major players involved in the pico projector market, include Aaxa Technologies, Inc. (U.S.), LG Electronics, Inc. (South Korea), Koninklijke Philips N.V.
(Netherlands), Sony Corporation (Japan), Lenovo Group Ltd. (China), along with other emerging companies, such as RIF6, LLC (U.S.), Cremotech Co., Ltd.
(Taiwan), and Celluon, Inc. (South Korea). Texas Instruments, Inc. (U.S.) and MicroVision, Inc.
(U.S.) are considered as the key suppliers of the projection technology in the pico projector market.
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