Laser Projection Market

Laser Projection Market by Product Type (Laser Projector and CAD Laser Projection System), Illumination Type (Laser Phosphor, Hybrid, RGB Laser, Laser Diode), Vertical (Enterprise, Public Places, Cinema, Education), and Geography - Global Forecast to 2023

Report Code: SE 6446 Jul, 2018, by marketsandmarkets.com

[145 Pages Report] In a laser projection system, projectors create an image by reflecting light through a small transparent lens. Also, some projectors can project the image using a laser light source. A laser projector is a device where the laser beam is controlled and scanned to produce the effect on a screen for various applications. Laser projection technology offers several advantages, such as fast and stable projection with a high repetition rate, optimized for 2D and 3D objects, high accuracy of the projection, and multi-projection system for huge and complex projections

Major factors driving the growth of the laser projection market are the significant advantages of laser projectors over traditional lamp projectors, increasing adoption of laser projection technology for various applications, and less maintenance cost/total cost of ownership. Rising demand for high-brightness projectors and growing demand for RGB laser projectors in cinema are expected to create significant growth opportunities for players in the laser projection market during the forecast period.

The laser projection market was valued at USD 4.57 billion in 2018 and is expected to reach USD 10.53 billion by 2023, at a CAGR of 18.2% between 2018 and 2023. The laser projection market has been segmented by product type, illumination type, resolution, vertical, and geography.

Laser Projection Market

By type, the market is segmented into Laser Projector and CAD Laser Projection System. Laser projector is expected to lead the market during the forecast period

The laser projector is expected to lead the laser projection market between 2018 and 2023. Laser projectors are used in various verticals, such as enterprise, education, cinema, public places, and retail. The enterprise vertical creates a major demand for laser projectors. Demand for laser projectors is increasing owing to their low maintenance cost, less power consumption, and high picture quality. Demand for high-brightness projectors is increasing in cinema; the number of digital cinema screens is increasing in many countries, leading to the higher adoption of laser projectors.

Laser phosphor projector to dominate the market during the forecast period Laser phosphor is expected to hold a major share of the laser projection market. The market for laser phosphor is expected to grow at the highest CAGR during the forecast period. Laser phosphor projectors have several advantages over lamp-based projectors; some of these are longer lifespan, reduced downtime, and lower maintenance costs. The long life and low maintenance of laser phosphor projectors make them ideal for high-use settings, such as boardrooms, classrooms, houses of worship, museums, and location-based entertainment venues. Also, there is increased adoption of RGB laser projectors, especially in the large-screen professional cinema application.

Laser projection market to grow at highest CAGR in APAC during the forecast period

APAC is expected to provide ample opportunities for the laser projection market growth during the forecast period. It is the leading region for cinema laser projectors, with major demand from China. The digital cinema industry in APAC has been dynamic over the past few years, with an increasing number of cinema screens in China and the focus on expanding cinema capacity and enhancing cinema experience by improving sound and projection system with high-brightness images.

Laser Projection Market

Market Dynamics

Driver: Significant advantages of laser projectors over traditional lamp projectors

Laser projectors use a laser light source to project the image on the screen; these are less distractive to presenters. Laser projectors operate at a low temperature; hence, they do not require as much cooling inside the projector unit. Laser projectors also last longer than lamp projectors. The unit in most of the laser projectors can last for 20,000 hours (8 hours a day); therefore, it can be used for more than 10 years without maintenance. Laser projectors also have a greater contrast ratio than lamp projectors. Laser light source provides brighter, sharper images, consumes less power and produces less heat. Hence, laser projectors have become more affordable for various verticals, such as cinema, enterprise, education, and retail.

Restraint:  High initial cost of laser projectors for a higher lumen

Laser projectors cost more; laser projection units cost more as well due to the newer technology. However, electricity and maintenance savings of a laser projector over its lifetime compared with a lamp projector make the benefits obvious. Many companies offer high-lumen projectors at a high price. The price of the projector varies depending on the lumen. Higher the lumen more will be the price of the projector.

Opportunity: Rising demand for high-brightness projectors

Laser projectors are used in various applications depending on the brightness and picture quality requirements. Laser projectors use a laser light source to project the image on the screen, and have a longer lifespan than lamp projectors. Laser light source also maintains its brightness, so the picture quality remains more consistent over the life of the projector. Major companies offering high-brightness laser projectors are Epson, Panasonic, Canon, and Sony, among others. In February 2018, Sony Professional Solutions Europe expanded its product portfolio by launching 5 new laser projectors with high brightness installation projector at ISE. These projectors are used in large venues, exhibitions, museums, midsized school or meeting rooms, auditoriums, and conference halls, among others. Most laser phosphor projectors are rated for 20,000 hours of use until they reach 50% brightness, whereas lamp-based projectors are usually rated for 2,000–3,000 hours of use until 50% brightness.

Challenge:  Operational challenges for low-end models

Operational challenges such as rainbow effect and light leakage during projection are likely to affect the growth of the laser projection market. These issues are prominent in low-end models and 1-chip DLP laser projectors. This provides an advantage for projectors based on other technologies, which can be used in applications such as education and business.

The rainbow effect occurs whenever there is a fast movement of images on the screen, or in case of rapid eye movement by the viewer while observing the image from one end of the screen to the other. The rainbow effect may cause a headache or other discomfort to the viewer. In addition to the rainbow effect, light leakage can create a gray bar on the projected image and spoil the projected image.

Scope of the Report

Report Metric

Details

Market size available for years

2016–2023

Base year considered

2017

Forecast period

2018–2023

Forecast units

USD million

Segments covered

Product Type, Illumination Type, Resolution, Vertical, and Region

Geographies covered

North America, APAC, Europe, RoW

Companies covered

Panasonic Corporation (Japan), Sony Corporation (Japan), Seiko Epson Corporation (Japan), Barco NV (Belgium), NEC Display Solutions (Japan), BenQ Corporation (Taiwan), Casio Computer Co., Ltd. (Japan), Delta Electronics Industry Co., Ltd. (Taiwan), Optoma Corporation (US), and Ricoh Company, Ltd. (Japan), Canon Inc. (Japan), Christie Digital Systems (US), Digital Projection (UK), Dell (US), FARO Technologies, Inc. (US), Hitachi Digital Media Group (UK), LAP GmbH Laser Applikationen (Germany), LG (South Korea), ViewSonic Corporation (US), and Xiaomi Inc. (China)

This research report categorizes the laser projection market on the basis of product type, illumination type, resolution, vertical, and region.

By Product Type

  • Laser Projector
  • CAD Laser Projection System

By Illumination Type

  • Laser Phosphor
  • Hybrid
  • RGB Laser
  • Laser Diode

By Resolution

  • WUXGA, WQXGA, and 2K
  • 4K
  • WXGA and XGA
  • HD and Full HD
  • Others

By Vertical

  • Enterprise
  • Public Places
  • Cinema
  • Education
  • Retail
  • Medical
  • Industrial

By Geography

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Rest of Europe
  • Asia Pacific (APAC)
    • China
    • Japan
    • India
    • South Korea
    • Rest of APAC
  • Rest of the World (RoW)
    • Middle East & Africa

Key Market Players

Panasonic, Sony, Epson, Barco, NEC Display Solutions

Recent Developments

  • In March 2018, Epson partnered with 4Wall Entertainment, Inc. (US) to deliver an immersive experience to basketball fans through laser projection mapping at Thomas & Mack Center (US). Through this partnership, 4Wall Entertainment and Epson joined forces to identify and deliver a reliable laser projector solution that seamlessly merged with the production content and distribution system. Eight Epson Pro L25000U laser projectors are installed above the court and programmed to converge together displaying 1 large image over the entire court.
  • In February 2018, Panasonic launched PT-RZ120 and PT-RZ870, 8,500-lumen projectors. These are SOLID SHINE laser projectors with 1-Chip DLP dual-drive laser phosphor models. Both of these projectors support 4K video signal input and are capable of maintenance-free operations for up to 20,000 hours.
  • In February 2018, Sony added 5 WUXGA resolution models to its portfolio of laser light source projectors. Each product is designed for a range of commercial mid-range installation applications in schools, including education, faith, corporate, and museums. The new models include VPL-FHZ120L (12,000 lm) and VPL-FHZ90L (9,000 lm) for larger venues, and the compact VPL-FHZ66 (6,100 lm), VPL-FHZ61 (5,100 lm), and VPL-FHZ58 (4,200 lm) for midsized classrooms.
  • In January 2018, NEC Display Solutions launched 2 projector models—30,000 Center (26,000 ANSI) lumen PH2601QL and 40,000 Center (35,000 ANSI) lumen PH3501QL. These high-brightness projectors have a native 4K resolution for better image details for graphics design, CAD drawings, and digital cinema-quality video. These new products have the latest RB laser light source. These projectors are well suited for auditoriums, theaters, lecture halls, museums, sanctuaries, and other large venues.
  • In December 2017, Barco signed an agreement to enter into a strategic joint venture with China Film Co. Ltd (CFG, China), Appotronics Corporation (China), and CITIC Private Equity Funds Management (CITICPE, China). The joint venture will serve as a dedicated commercialization solutions channel for each company’s products and services for the global cinema market, excluding mainland China.

Critical questions the report answers:

  • What are the major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the growth of the laser projection market?
  • What is the analysis of competitive developments such as joint ventures, partnerships, product launches, and developments in the laser projection market?
  • Which are the larger revenue-generating regions in the market?
  • What are the future hot bets in this market?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 14)
    1.1 Study Objectives
    1.2 Definition
    1.3 Study Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for This Study
    1.4 Currency
    1.5 Stakeholders

2 Research Methodology (Page No. - 17)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Major Secondary Sources
                    2.1.1.2 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Primary Interviews With Experts
                    2.1.2.2 Breakdown of Primaries
                    2.1.2.3 Key Data From Primary Sources
                    2.1.2.4 Key Industry Insights
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
                    2.2.1.1 Approach for Capturing Market Size By Bottom-Up Analysis (Demand Side)
           2.2.2 Top-Down Approach
                    2.2.2.1 Approach for Capturing Market Size By Top-Down Analysis (Supply Side)
    2.3 Market Breakdown and Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 27)

4 Premium Insights (Page No. - 31)
    4.1 Laser Projection Market (2018–2023)
    4.2 Laser Projector Market, By Illumination Type
    4.3 Market, By Vertical and Region
    4.4 Market Geographic Snapshot

5 Market Overview (Page No. - 34)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Significant Advantages of Laser Projectors Over Traditional Lamp Projectors
                    5.2.1.2 Increasing Adoption of Laser Projection Technology for Various Applications
                    5.2.1.3 Less Maintenance Cost/Total Cost of Ownership
           5.2.2 Restraints
                    5.2.2.1 High Initial Cost of Laser Projectors for Higher Lumen
           5.2.3 Opportunities
                    5.2.3.1 Growing Demand for RGB Laser Projectors in Cinema
                    5.2.3.2 Rising Demand for High-Brightness Projectors
           5.2.4 Challenges
                    5.2.4.1 Operational Challenges for Low End Models
    5.3 Laser Projector Application
           5.3.1 Display
           5.3.2 Augmented Reality and Virtual Reality

6 Laser Projection Market, By Product Type (Page No. - 38)
    6.1 Introduction
    6.2 Laser Projector
    6.3 CAD Laser Projection System

7 Laser Projection Market, By Illumination Type (Page No. - 44)
    7.1 Introduction
    7.2 Laser Phosphor
    7.3 Hybrid (Laser and LED)
    7.4 RGB Laser
    7.5 Laser Diode

8 Laser Projection Market, By Resolution (Page No. - 51)
    8.1 Introduction
    8.2 WUXGA, WQXGA, and 2K
    8.3 4K
    8.4 XGA and WXGA
    8.5 HD and Full HD
    8.6 Others

9 Laser Projection Market, By Vertical (Page No. - 59)
    9.1 Introduction
    9.2 Enterprise
    9.3 Public Places
    9.4 Cinema
    9.5 Education
    9.6 Retail
    9.7 Industrial
    9.8 Medical

10 Laser Projection Market, Geographic Analysis (Page No. - 81)
     10.1 Introduction
     10.2 North America
             10.2.1 US
             10.2.2 Canada
             10.2.3 Mexico
     10.3 Europe
             10.3.1 Germany
             10.3.2 UK
             10.3.3 France
             10.3.4 Italy
             10.3.5 Rest of Europe
     10.4 Asia Pacific
             10.4.1 China
             10.4.2 Japan
             10.4.3 India
             10.4.4 South Korea
             10.4.5 Rest of APAC
     10.5 RoW
             10.5.1 South & Central America
             10.5.2 Middle East & Africa

11 Competitive Landscape (Page No. - 98)
     11.1 Introduction
     11.2 Market Player Ranking Analysis (2017)
             11.2.1 Product Launches
             11.2.2 Partnerships and Contracts

12 Company Profiles (Page No. - 103)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View)*
     12.1 Key Players
             12.1.1 Panasonic
             12.1.2 Sony
             12.1.3 Epson
             12.1.4 Barco
             12.1.5 NEC Display Solutions
             12.1.6 Benq
             12.1.7 Casio
             12.1.8 Delta Electronics
             12.1.9 Optoma
             12.1.10 Ricoh Company
     12.2 Other Key Companies
             12.2.1 Canon
             12.2.2 Christie Digital Systems
             12.2.3 Digital Projection
             12.2.4 Dell
             12.2.5 Faro
             12.2.6 Hitachi Digital
             12.2.7 Lap GmbH
             12.2.8 LG
             12.2.9 Viewsonic
             12.2.10 Xiaomi

*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.

13 Appendix (Page No. - 137)
     13.1 Insights From Industry Experts
     13.2 Discussion Guide
     13.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     13.4 Introducing RT: Real-Time Market Intelligence
     13.5 Available Customizations
     13.6 Related Reports
     13.7 Author Details


List of Tables (63 Tables)

Table 1 Market, By Product Type, 2015–2023 (USD Million)
Table 2 Laser Projector Market Size in Terms of Value and Volume, 2015-2023
Table 3 Laser Projector Market, By Vertical, 2015–2023 (USD Million)
Table 4 CAD Laser Projection System Market, By Vertical, 2015–2023 (USD Million)
Table 5 Laser Projector Market, By Illumination Type, 2015–2023 (USD Million)
Table 6 Laser Phosphor Projector Market, By Resolution, 2015–2023 (USD Million)
Table 7 Hybrid Laser Projector Market, By Resolution, 2015–2023 (USD Million)
Table 8 RGB Laser Projector Market, By Resolution, 2015–2023 (USD Million)
Table 9 Laser Projector Market for Laser Diode, By Resolution, 2015–2023 (USD Million)
Table 10 Laser Projection Market, By Resolution, 2015–2023 (USD Million)
Table 11 Laser Projection Market for WUXGA, WQXGA, and 2K, By Illumination Type, 2015–2023 (USD Million)
Table 12 Laser ProjectionMarket for 4K, By Illumination Type, 2015–2023 (USD Million)
Table 13 Laser Projection Market for XGA and WXGA, By Illumination Type, 2015–2023 (USD Million)
Table 14 Laser Projection Market for HD and Full HD, By Illumination Type, 2015–2023 (USD Million)
Table 15 Laser Projection Market for Others, By Illumination Type, 2015–2023 (USD Million)
Table 16 Laser Projection Market, By Vertical, 2015–2023 (USD Million)
Table 17 Laser Projection Market for Enterprise, By Region, 2015–2023 (USD Million)
Table 18 Laser Projection Market for Enterprise in North America, By Country, 2015–2023 (USD Million)
Table 19 Laser Projection Market for Enterprise in Europe, By Country, 2015–2023 (USD Million)
Table 20 Laser Projection Market for Enterprise in APAC, By Country, 2015–2023 (USD Million)
Table 21 Laser Projection Market for Enterprise in RoW, By Region, 2015–2023 (USD Million)
Table 22 Laser Projection Market for Public Places, By Region, 2015–2023 (USD Million)
Table 23 Laser Projection Market for Public Places in North America, By Country, 2015–2023 (USD Million)
Table 24 Laser Projection Market for Public Places in Europe, By Country, 2015–2023 (USD Million)
Table 25 Laser Projection Market for Public Places in APAC, By Country, 2015–2023 (USD Million)
Table 26 Laser Projection Market for Public Places in RoW, By Region, 2015–2023 (USD Million)
Table 27 Laser Projection Market for Cinema, By Region, 2015–2023 (USD Million)
Table 28 Laser Projection Market for Cinema in North America, By Country, 2015–2023 (USD Million)
Table 29 Laser Projection Market for Cinema in Europe, By Country, 2015–2023 (USD Million)
Table 30 Laser Projection Market for Cinema in APAC, By Country, 2015–2023 (USD Million)
Table 31 Laser Projection Market for Cinema in RoW, By Region, 2015–2023 (USD Million)
Table 32 Laser Projection Market for Education, By Region, 2015–2023 (USD Million)
Table 33 Laser Projection Market for Education in North America, By Country, 2015–2023 (USD Million)
Table 34 Laser Projection Market for Education in Europe, By Country, 2015–2023 (USD Million)
Table 35 Market for Education in APAC, By Country, 2015–2023 (USD Million)
Table 36 Market for Education in RoW, By Region, 2015–2023 (USD Million)
Table 37 Market for Retail, By Region, 2015–2023 (USD Million)
Table 38 Market for Retail in North America, By Country, 2015–2023 (USD Million)
Table 39 Market for Retail in Europe, By Country, 2015–2023 (USD Million)
Table 40 Market for Retail in APAC, By Country, 2015–2023 (USD Million)
Table 41 Market for Retail in RoW, By Region, 2015–2023 (USD Million)
Table 42 Market for Industrial, By Region, 2015–2023 (USD Million)
Table 43 Market for Industrial in North America, By Country, 2015–2023 (USD Million)
Table 44 Market for Industrial in Europe, By Country, 2015–2023 (USD Million)
Table 45 Market for Industrial in APAC, By Country, 2015–2023 (USD Million)
Table 46 Market for Industrial in RoW, By Region, 2015–2023 (USD Million)
Table 47 Market for Medical, By Region, 2015–2023 (USD Million)
Table 48 Market for Medical in North America, By Country, 2015–2023 (USD Million)
Table 49 Market for Medical in Europe, By Country, 2015–2023 (USD Million)
Table 50 Market for Medical in APAC, By Country, 2015–2023 (USD Million)
Table 51 Market for Medical in RoW, By Region, 2015–2023 (USD Million)
Table 52 Market, By Region, 2015–2023 (USD Million)
Table 53 Market in North America, By Country, 2015–2023 (USD Million)
Table 54 Market in North America, By Vertical, 2015–2023 (USD Million)
Table 55 Market in Europe, By Country, 2015–2023 (USD Million)
Table 56 Market in Europe, By Vertical, 2015–2023 (USD Million)
Table 57 Market in APAC, By Country, 2015–2023 (USD Million)
Table 58 Market in APAC, By Vertical, 2015–2023 (USD Million)
Table 59 Market in RoW, By Region, 2015–2023 (USD Million)
Table 60 Market in RoW, By Vertical, 2015–2023 (USD Million)
Table 61 Ranking of Players (2017)
Table 62 Product Launches (2017 and 2018)
Table 63 Partnerships and Contracts (2016–2017)


List of Figures (53 Figures)

Figure 1 Market Segmentation
Figure 2 Market: Process Flow of Market Size Estimation
Figure 3 Market: Research Design
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 Data Triangulation
Figure 7 Assumptions for Research Study
Figure 8 Laser Projector to Lead the Market During Forecast Period
Figure 9 Laser Phosphor Projector to Dominate Market During Forecast Period
Figure 10 Market for 4K to Grow at Highest CAGR During Forecast Period
Figure 11 Market for Cinema to Grow at Highest CAGR Between 2018 and 2023
Figure 12 Market to Grow at Highest CAGR in APAC During Forecast Period
Figure 13 Attractive Opportunities for Market Growth Between 2018 and 2023
Figure 14 Market for Laser Phosphor to Grow at Highest CAGR During Forecast Period
Figure 15 Enterprise and North America Held Major Share of Market in 2017
Figure 16 Market to Grow at Highest CAGR in China During Forecast Period
Figure 17 Increasing Demand for Laser Projectors Over Traditional Lamp Projectors Driving Market Growth
Figure 18 Market for Laser Projector to Grow at Higher CAGR During Forecast Period
Figure 19 The Laser Projector Market for Cinema Expected to Grow at Highest CAGR During the Forecast Period
Figure 20 CAD Laser Projection System Market for Aerospace & Defense to Grow at Highest CAGR During Forecast Period
Figure 21 Laser Phosphor Projector to Dominate the Market During Forecast Period
Figure 22 4K to Dominate Laser Phosphor Projector Market During Forecast Period
Figure 23 WUXGA, WQXGA and 2K to Hold Largest Size of Hybrid Laser Projector Market By 2023
Figure 24 4K to Dominate RGB Laser Projector Market During Forecast Period
Figure 25 Market for 4K to Grow at Highest CAGR During Forecast Period
Figure 26 Laser Phosphor to Dominate Market for WUXGA, WQXGA, and 2K By Illumination Type During Forecast Period
Figure 27 Laser Phosphor to Dominate Market for 4K During Forecast Period
Figure 28 Laser Phosphor Projector to Dominate Market for XGA and WXGA Resolution During Forecast Period
Figure 29 Laser Phosphor Market to Grow at Highest CAGR for Other Resolution During Forecast Period
Figure 30 Enterprise to Account for Largest Size of Market By 2023
Figure 31 Market for Enterprise to Grow at Highest CAGR in APAC During Forecast Period
Figure 32 Market for Public Places to Grow at Highest CAGR in APAC During Forecast Period
Figure 33 Market for Cinema to Grow at Highest CAGR in APAC During Forecast Period
Figure 34 Market for Retail to Grow at Highest CAGR in APAC During Forecast Period
Figure 35 APAC to Lead Industrial Market By 2023
Figure 36 APAC to Dominate Market for Medical During the Forecast Period
Figure 37 Market to Grow at Highest CAGR in China During Forecast Period
Figure 38 Market to Grow at Highest CAGR in APAC During Forecast Period
Figure 39 Market Snapshot: North America
Figure 40 North American Market to Grow at Highest CAGR in US During Forecast Period
Figure 41 Market Snapshot: Europe
Figure 42 Germany to Lead European Market During Forecast Period
Figure 43 Market Snapshot: APAC
Figure 44 China to Lead Market in APAC During Forecast Period
Figure 45 RoW Market to Grow at Higher CAGR in South & Central America During Forecast Period
Figure 46 Organic and Inorganic Strategies Adopted By Companies Operating in Market (2015–2018)
Figure 47 Panasonic: Company Snapshot
Figure 48 Sony: Company Snapshot
Figure 49 Epson: Company Snapshot
Figure 50 Barco: Company Snapshot
Figure 51 Casio: Company Snapshot
Figure 52 Delta Electronics: Company Snapshot
Figure 53 Ricoh Company: Company Snapshot


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