Laser Projection Market

Global Laser Projection Market Size (2024-2029):

The Global Laser Projection Market Was worth US$ 8.77 billion in 2023 and is anticipated to reach a valuation of US$ 22.48 billion by 2029 from US$ 10.26 billion in 2024. It is predicted to register a CAGR of 16.98% during the forecast period 2024-2029.

MARKET SCENARIO

Laser projection is a process of changing the laser beam on the screen to create a moving image with the use of a projector for entertainment or professional purpose. The projector contains various components, such as lasers, galvanometer scanners, and some optical components. Depending on the type of color projection, it may have single or three sources of laser light. The features of laser projection are high brightness, low maintenance, long lifespan, and high-quality image. It has a wide range of applications in the government, public, industrial, and educational sectors. Laser projectors have increased efficiency and durability than lamp-based projectors. These can be used in heavy-use applications and in all-day use.

MARKET DRIVERS

The longer lifespan of the product acts as a market driver.

The brightness and image quality of the laser projection is important decision-making factor that decides its usage in various applications. When compared to the lamp projector, the laser light source is used in the laser projection to project the image on the screen. This results in the longer lifespan of the device. Over the years of the laser projector, there has been a consistency in the picture quality due to the use of laser light as a source which helps maintain the brightness. Epson, Panasonic, Sony, and others are some market players who produce high-brightness laser projectors. The longer lifespan of the device attracts more users to adopt the laser projectors resulting in the increased demand for the laser projection market.

The associated advantages with the laser projections increase the market demand.

There is a positive influence on the market growth rate with the increased adoption of laser projection by a variety of industries and resulting in the increasing demand for laser projection technology. The advantages offered by laser projectors are even at low temperatures, it functions easily. When compared to the traditional lamp-based projector, a laser projector has a long lifespan, high contrast and with, clear images, high brightness, and others. These advantages drive the laser projection market by increasing its application and usage in various industries, businesses, educational institutions, and retail sectors.

MARKET RESTRAINTS

The high cost of the laser projection will act as a market restraint resulting in a negative impact on the market growth rate.

The more expensive nature of the laser projectors and laser projection systems is as they are the latest innovations in the market. The charge for the projectors having a high lumen will generally be high. Additionally, the cost of the projector depends on the lumens level, and there is a positive relation between the price of the laser projector and the lumen level. The high cost could make the laser projector reach a smaller number of users. The adoption and expansion of the market into various sectors and new markets become difficult. 

MARKET OPPORTUNITIES

The development of innovations in the product in accordance with user requirements will be an optimistic opportunity for the market. The continuous upgradation of the product by the key market players in terms of the technology with the growing demand for laser projection systems from the end users. One of the main growth-promoting market opportunities is the laser phosphor-based projectors’ increasing adoption and use in a variety of the applications, such as in classrooms, boardrooms, museums, worship places, and entertainment locations. The low maintenance and cost-effectiveness of the laser projectors will be an added advantage and a great opportunity for the laser projection market to expand into various verticals and regions across the world. 

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Laser Projection Market Analysis By Product Type

• Laser Projector
• CAD Laser Projection System

The laser projector segment leads the laser projection market during the forecast period. The application is in a wide range of the sectors like education, cinema, public places, industries, enterprise, and retail. The increasing popularity of laser projectors is due to their features, such as low maintenance, less power consumption, and good picture quality. The high demand can be seen in enterprises. Cinemas are more popular in many countries resulting in the need for high-brightness projectors, and there is a rise in the number of digital cinema screens contributing to the adoption of more laser projectors.

Global Laser Projection Market Analysis By Illumination Type

• Laser Phosphor
• Hybrid (Laser and LED)
• RGB Laser
• Laser Diode
• Others

The laser phosphor segment is expected to hold a high market share in the laser projection market during the forecast period. The features like long lifespan, low maintenance cost, and low downtime are the benefits of the usage of the laser phosphor projector over traditional projectors. For high-use settings, laser phosphor projectors act ideal. The various range of applications in a wide range of industries drives market growth.

Global Laser Projection Market Analysis By Verticals

• Retail
• Media & Entertainment
• Public Places
• Enterprise
• Healthcare
• Education
• Industrial
• Others

The media & entertainment segment is expected to dominate the market with a high CAGR in the laser projection market. The laser projectors will be helpful in the need for supplementary information in certain sectors like government, public administration, and meetings. The usage of laser projections is high when there is a requirement for the presentation of high-quality images, and the entertainment vertical has a requirement for a high-quality display that drives the market.

REGIONAL ANALYSIS

• North America Gas Detectors Market includes U.S, Canada
• Europe Gas Detectors Market includes the UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic & Rest of Europe
• Asia Pacific Gas Detectors Market includes India, China, Japan, South Korea, Australia & New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore & Rest of APAC
• Latin America Gas Detectors Market includes Brazil, Mexico, Argentina, Chile & Rest of LATAM
• Middle East & Africa Gas Detectors Market includes KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, rest of MEA

Based on the region, the Asia-Pacific region is expected to have high market growth due to the presence of huge opportunities for laser projection. China is the most important nation for this market as the leading user of cinema laser projectors. The market expansion is high in the region with the increasing number of cinema screens. The region is also focusing on providing a great cinema experience to the users by projecting high-quality images with high brightness. In recent years the digital cinema sector is seeing huge demand and will propel the laser projection market.

MARKET KEY PLAYERS

1. NEC Display Solutions
2. Casio
3. Delta Electronics
4. Hutchinson Manufacturing Inc.
5. Christie digital system
6. Dell
7. Epson Ricoh Company
8. Hitachi Digital,
9. LG Electronics

RECENT HAPPENINGS IN THE MARKET

• In 2019, the world’s smallest LCD laser projectors (EPSON EF-100B and EF-100W) were manufactured by Epson in Malaysia. The main features of this projector are having a brightness of 2000 lumens, and a footage projection size is up to 150 inches.
• In 2019, a Pico laser projector was launched by the Nebra with the name Nebra AnyBeaam. It has the feature of creating image size up to 150 inches & are efficient, affordable, and tiny. It is built on the Raspberry Pi.