Status : Published Published On : Apr, 2022 Report Code : VRSME9118 Industry : Semiconductor & Electronics Available Format : Page : 200
2015
2022

Global Pico Projector Market – Analysis and Forecast (2021-2027)

Industry Insight by Type (USB Projector, Embedded Projector, Laser Projector, Media player Projectors, and Standalone), by Technology (Liquid Crystal on Silicon, Laser Beam Steering, Holographic Laser Projection, and Digital Light Processing), by Application (Aerospace and Defense, Healthcare, Education, Automotive, Consumer Electronics, and Others), and Geography (U.S., Canada, Germany, U.K., France, China, Japan, India, and Rest of the World)

Industry Overview

The Pico projector market size will grow from USD 3475.5 million in 2021 to USD 6345.4 million in 2027, registering a CAGR of 11.2% during the forecast period 2021-2027. A pico projector, also called handheld projector, mobile projector, mini beamer, or pocket projector is a compact, portable device with all the features of a standard projector and the ability to display content on a flat surface. In terms of portability, low energy consumption, and resolution, they offer an excellent alternative to bulky and cumbersome projectors. Among the technologies studied in the study are Digital Light Processing, Liquid Crystal on Silicon, and Laser Beam Steering Holographic Laser Projection. Pico projectors come in various shapes and sizes, including a led pico pocket projector, an HD pico projector, a led pico projector, a cube pico projector, and a wireless and Bluetooth pico projector. Due to factors such as optoelectronic system capability and robust acceptance of the technology in several industries including automotive, aerospace & defense, consumer electronics, healthcare, media & entertainment, marketing agencies, and others, results in a boom in the pico projector market.

Pico Projector Market Highlights

The COVID-19 pandemic has led to lockdowns in most of the countries of the world, resulting in hampering import and export services. The majority of individuals were compelled to stay inside their homes due to the lockdown, which meant that the physical companies, factories, and shops that supplied home theatres were closed or inoperable. However, because home theatre is a versatile technological gadget that can be purchased online, it positively impacts product manufacturing and sales. Because the majority of universities have closed their schools offices, they are all inoperable at this time. As a result, all of this has an impact on the Pico Projector Market Revenue.

Market Segmentation

Insight by Type

Based on type, the global Pico projector market is segmented into USB Projector, Embedded Projector, Laser Projector, Media player Projectors, and Standalone. Among these segments, embedded projector contributes to the largest share in the market owing to the increased adoption in the consumer electronics sector due to its portability feature. Furthermore, the mounting prominence of smartphones with features such as virtual keyboards and the proliferation of BYOD will accelerate the development of the embedded projector market.

The USB projector is projected to witness a significant growth owing to an increase in the demand for USB projectors in a wide range of industries, including consumer electronics, aerospace and military, healthcare, business and education, and automotive.

Insight by Technology

Based on technology, the global Pico projector market is segregated into Liquid Crystal on Silicon, Laser Beam Steering, Holographic Laser Projection, and Digital Light Processing.  The laser beam steering technology is anticipated to have a high CAGR during the forecast period owing to its advantages like high brightness and improved image quality, resulting in increased customer experience.

Insight by Application

Based on application, the global Pico projector market is divided into aerospace and defense, healthcare, education, automotive, consumer electronics, and others. Consumer electronics contribute the largest share in the market owing to the extensive adoption of smartphones and wearable technology. The healthcare sector is anticipated to grow significantly in the Pico projector market as it can be used for improved patient management like sharing patient data across departments in the hospital with this device.

Pico Projector Market Report Coverage

Report Metric

Details

Historical Period

2015–2020

Base Year Considered

2021

Forecast Period

2021-2027

Market Size in 2021

$3475.5 Million

Revenue Forecast in 2027

$6345.4 Billion

Growth Rate

CAGR 11.2%

Segments Covered in the Report

By Type, By Technology, and By Application

Report Scope

Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling

Regions Covered in the Report

North America, Europe, Asia-Pacific, Middle East, and Rest of the World

 

Industry Dynamics

 Industry Trends

The increased prominence of smartphones, the evolution of IoT, mounting demand for mobility in industries, rising adoption of BYOD in the business sector, and increased deployment in armed forces for 3D projection are the trends prevalent in the Pico projector industry. Pico projectors are being used in presentations in schools, universities, business meetings, job offices, and practically anywhere else where projectors are required.

Growth Drivers

The increased demand from the consumer electronics sector, progressive government reforms, technological development due to the adoption of miniaturization, increasing adoption of the Digital Light Processing (DLP) technology, the emergence of IoT, and rising disposable income among people will accelerate the growth of the Pico projector market. Pico projectors are small in size, light in mass, and flexible, resulting in connecting several devices like laptops, PC, DVD players, gaming stations, cell phones, etc. Thus, offering convenience to the users. Furthermore, the worldwide projector market is likely to be transformed by the evolution in laser technology, which will allow projectors to be smaller and more portable. These projectors can also be found in small hand-held devices and peripherals such as tablets, cameras, personal digital assistants, computers, and cellphones. In addition, with the help of pico projectors, it is possible to watch movies and play games in a glass-free environment. Additionally, with quick breakthroughs in display technology like 4K and 8K display panels, the image quality of Pico projectors is expected to improve. This element is predicted to boost the market's growth.

Challenges

Factors hampering the growth of the market include low brightness which is in the range of 10-1000 lumens and can be used in the darkroom so that the image comes clearly, thus restraining the growth of the market. Moreover, tough competition from flat panel displays and safety issues with laser beam steering-based Pico projectors will hamper the growth of the market. Also, there are limited features of Pico projectors but the rising demand for flexibility among end-users will stymie the growth of the market.

Opportunities

The advancement of head-up displays, and adoption in wearable electronics, are the opportunities prevalent in the Pico Projector market. The product's interoperability with Wi-Fi, WiMax, and 3G/4G technologies will assist opportunities for growth in the market during the forecast period 2021-2027.

Geographic Overview

North America dominates the Pico projector market as they are early adopters of technology. The expected release of new applications of this technology, especially in the fields of life sciences, intelligent traffic systems, and vision-guided robotics, is predicted to increase the demand for pico projectors in the region. The region's extensive IT infrastructure has strengthened the market and improved key projector properties like mobility and portability will lead to the growth of the Pico Projector Market. The semiconductor businesses in the region are actively looking for ways to increase their DLP portfolio for pico projectors to boost their business.

Asia-Pacific is anticipated to witness a faster pace owing to the rising demand from the portable consumer electronics sector and increased disposable income.

Competitive Insight

The mounting emphasis of prominent companies on novel product launches, technological development & advancement, product innovation, collaboration, M&A, partnerships, etc. will elevate the adoption of the global Pico projectors market during the forecast period. Players are focused on cost-cutting to gain profitability with these price-sensitive devices.

AAXA Technologies Inc is a pioneer and manufacturer of "micro" and "pico" projectors. Micro and pico projectors are achievable because of AAXA's core technology, which is based on compact LCoS (Liquid Crystal on Silicon) and DLP (Digital Light Processing) imagers linked to LED (light-emitting diode) and Laser light sources. AAXA introduced the world's first laser pico projector in 2010 and continues to be a leader in mini-projector technology today. AAXA has multiple patents in optical and LCoS designs, and the majority of its products are manufactured in China, with core technology research taking place in both Silicon Valley, California, and China.

Opus Micro makes two-dimensional MEMS mirrors for dynamic light modulation. The company's product portfolio comprises MEMS position sensors, scan display controllers, and optical design services. It can be used for augmented/mixed reality near-eye displays for HMDs, depth-sensing 3D cameras, wearable projection displays, free laser scan pico-projectors, MEMS LiDAR, automobile head-up displays, etc. MEMS Evaluation Kit is also available from the company, which contains a resonant MEMS scanning mirror on PCB, software CD, control board, and other connections.

In March 2022, AAXA Technologies announced the launch of the AAXA P8 Mini Projector. The AAXA P8 Mini Projector is a pocket-sized, high-powered next-generation solid-state mini projector. The AAXA P8 Mini HD Projector features a 4th generation Texas Instruments DLP imager and an Android 10.0 operating system with wireless screen mirroring, Bluetooth networking, and video streaming capabilities. The P8 delivers a bright 430 Lumens and can display a dazzling 100" image owing to extremely efficient Luminus 30,000-hour LEDs.

In September 2021, Epson announced the new 880X 3LCD 1080p smart portable projector, which is dedicated to offering high-quality projection that is also versatile for a variety of professional applications. The 880X meets a range of on-the-go corporate display demands owing to its small size and easy carrying case. Users may also turn their Android TV1 into a streaming machine for amazing entertainment nearly anywhere due to the built ChromecastTM2.

Some of the prominent players in the Pico projector market include AAXA TECHNOLOGIES INC., Texas Instruments Incorporated, LG Electronics, Sony Group Corporation, Acer Inc., Coretronic Corp., Tracxn Technologies Limited. (Previous Name was Opus Microsystems Corp.), Koninklijke Philips N.V., Miroir USA., and Seiko Epson Corporation.

Pico Projector Market Size and Market Analysis

Region Covered in the Report

•    North America

- U.S.
- Canada
- Mexico

•    Europe

- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe

•    Asia-Pacific (APAC)

- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific

•    Rest of the World (RoW)

- Brazil
- Saudi Arabia
- South Africa
- U.A.E.
- Other Countries

Frequently Asked Questions

The Pico Projector is anticipated to grow at a significant pace i.e. 11.2% CAGR during the forecast period.
The surge in demand for consumer electronics such as smartphones and tablets particularly in emerging economies like India, China, etc. owing to rising disposable income and mounting government reforms will rapidly develop the growth of the global Pico projectors market.
The DLP dominates the market owing to its two significant factors i.e., sealed imaging chips and filter-free chips. Also, DLP chips eliminate the dust particles entering the projected image and do not require air filters, thus reducing maintenance costs.
North America dominates the global Pico Projector market owing to well-established IT infrastructure and enhanced semiconductor business in the region
Some of the major players in the global Pico Projector market include AAXA TECHNOLOGIES INC., Texas Instruments Incorporated, LG Electronics, Sony Group Corporation, Acer Inc., Coretronic Corp., Tracxn Technologies Limited. (Previous Name was Opus Microsystems Corp.), Koninklijke Philips N.V., Miroir USA., and Seiko Epson Corporation.

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Research Methodology

  •  Desk Research / Pilot Interviews
  •  Build Market Size Model
  •  Research and Analysis
  •  Final Deliverabvle

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