The projection mapping market is estimated to be worth USD 2.8 billion in 2021 and is projected to reach USD 7.9 billion by 2026, at a CAGR of 23.4%. The increasing adoption of projection mapping for media events, rising advertising expenditure, adoption of projection mapping for medical applications and increasing demand for high brightness projectors are some of the prominent factors for the growth of the projection mapping market globally.
The major players in the market with a significant presence across various regions in the projection mapping market are Panasonic (Japan), Epson (Japan), BenQ (Taiwan), Barco (Belgium), and Christie Digital Systems (US). The companies in the projection mapping market have adopted strategies such as the development of technologically advanced products, integration of emerging technologies such as AR, VR and mixed reality, partnerships and collaborations to grow in the projection mapping market. The organic and inorganic strategies have helped the players in the market to expand themselves globally with a diverse product portfolio.
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Panasonic (Japan) is a multinational electronics company that was founded in 1918 and headquartered in Osaka, Japan. It operates through the following segments: Appliances, Life Solutions, Connected Solutions, Automotive, and Industrial Solutions. Each of these segments is further divided into various business divisions which have their distinct R&D, production, and sales facilities that fulfil customer needs. The company offers projectors for projection mapping. Avionics, Process Automation, Media Entertainment, Mobile Solutions, and PSSJ are the business divisions in the Connected Solutions segment. The projectors are a part of the Media Entertainment business division of the Connected Solutions segment. The major products offered through the Media Entertainment business are high-performance projectors, large screen LED displays, broadcast equipment, audio systems, and energy-saving lighting equipment. Panasonic is known for its high brightness projectors which deliver a brightness of more than 10,000 lumens. These projectors are majorly used for projection mapping in large venues.
Seiko Epson Corporation (Japan), commonly known as Epson, is one of the largest manufacturers of printers and information-related and image-related equipment globally. Epson was founded in 1942 and is headquartered in Suwa, Japan. The majority of R&D and product development activities are conducted in Japan and manufacturing and sales activities are conducted by the Epson group of manufacturing and sales companies in and outside Japan. The major business segments in Epson are the Printing Solutions Segment which is associated with the printer business and professional printing business, the Visual Communications Segment which leverages Epson’s microdisplay and projection technologies to develop 3LCD projectors for businesses, education, home projection and events, and smart glasses and the Wearable & Industrial Products Segment which is associated with the wearable products, robotics solutions, and microdevices businesses. The company offers 3LCD projectors and the software needed for projection mapping which are the constituents of the Visual Communications segment. The company has a worldwide presence with production sites in China, Indonesia, Singapore, Malaysia, and the Philippines, as well as in the US, the UK, and other countries.
BenQ (Taiwan) is a subsidiary of Qisda Corporation, was founded in 1984 and is headquartered in Taipei, Taiwan. BenQ offers products such as projectors, interactive displays, wireless presentation equipment, digital signage, monitors, and software. The company offers projectors for projection mapping with the facility to use lenses as per the throw requirement based on the size of the venue. The projector portfolio of the company includes the DLP projection technology through the short throw, ultra-short throw, and normal projectors for applications such as business, education, professional, home entertainment, cinema industry, and others. The company provides projectors for projection mapping with additional lenses for different applications for the various needs of entertainment venues, museums, and large enterprises. The company is active in local markets and offers sales support for its major products and solutions, BenQ has established a presence in more than 100 countries across the globe. It has regional offices in Taiwan, the Asia Pacific, Europe, China, Latin America, and North America regions.
Belgian American Radio Corporation (BARCO) (Belgium) was established in 1934 and is headquartered in Kortrijk, Belgium. The company specializes in developing digital projection and imaging solutions for business segments such as Entertainment, Enterprise, and Healthcare. The products offered by Barco include wireless collaboration products, medical displays, projectors, video walls, image processing solutions, and software. In the projectors segment, the company offers the DLP projection technology for applications such as boardrooms, meeting rooms, brainstorm rooms, the cinema industry, and others. Barco offers projectors and image processing equipment which is essential for projection mapping. The projectors offered by Barco are associated with the Entertainment division of the company. The company majorly provides lamp and laser phosphor projectors with brightness up to 40,000 lumens and a presentation switcher with video processing and control systems for projection mapping solutions for large venues and events.
Christie Digital Systems (US) is a global audio-visual, content management, and image processing technology company. It is a subsidiary of Ushio Inc (Tokyo) and is headquartered in California, US. Christie Digital Systems was initially offered products for the cinema projector market and after the acquisition of Electrohome Projection Systems (Canada), the company entered the commercial projection market. The acquisition helped the company establish itself in the digital projection market. Christie Digital Systems provides a wide range of projectors, media servers, and software needed for projection mapping. The company has installed various projection solutions for various markets such as broadcasting, cinema, education, large venues, and hospitality and tourism.
Projection Mapping Market with Covid-19 Impact Analysis by Offering (Hardware (Projector, Media Server), Software), Throw Distance, Dimension (2D, 3D, 4D), Lumens, Applications (Media, Venue, Retail, Entertainment), and Region - Global Forecast to 2026
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