Market Synopsis of Pico Projector Market
Major giants like Sony Corporation and Lenovo Group are investing into pico projector market due to increasing demand from consumer electronics sector. Sony Corporation has developed a pico projector module equipped with Sony’s independently developed image processing system which makes use of laser beam scanning. This pico projector module can be combined with Wi-Fi components to convert into a pocket sized projector to display images from a smartphone. Lenovo Group has launched a pico projector with swiveling lens that provides a more flexible display. The projector is a palm top size and can provide wireless projection of data from a SD card.
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Asia Pacific region holds the largest market share of global pico projector market and is also expected to be the fastest growing region. The growth in Asia Pacific region is majorly dominated by China, Korea and Japan, China being the manufacturing hub for consumer electronic devices. The growth is Asia Pacific is attributed to the increasing demand for innovations and portable consumer electronics in the region. Many startups are investing into the pico projector market and belong to the Asia Pacific region.
Pico Projector Market has been segmented on the basis of component, type, technology, specification and application. The technology segment is further bifurcated into digital light processing (DLP), liquid crystal on silicon (LCOS), laser beam steering and projection technologies in augmented reality (AR). Out of which, the digital light processing sub segment holds the largest market share in the pico projector market. This advanced processing technology was initially developed by Texas Instruments and is implemented in pico projectors.
Pico projectors are also referred to as handheld projectors. Major factor driving the growth of pico projector market is the growing need for portable and handy electronic devices. With the increasing demand for consumer electronics, the merging of pico projector into the portable consumer electronics is increasing and this is one major factor fueling the growth of pico projector market.
The global pico projector market is expected to grow at approx. USD 3.8 Billion by 2023, at 15% of CAGR between 2017 and 2023.
The prominent players in pico projector market are – Lenovo Group Limited (U.S.), LG Electronics Inc. (South Korea), Microvision, Inc. (U.S.), Sony Corporation (Japan), Aaxa Technologies Inc. (U.S.), Texas Instruments Inc. (U.S.), ZTE Corporation (China), Koninklijke Philips N.V. (Netherlands), Cremotech Co., Ltd. (South Korea), Global Aiptek Corporation (Taiwan) among others.
Pico Projector Market Segmentation
The pico projector market has been segmented on the basis of component, type, technology, specification and application. The specification segment is bifurcated into resolution, brightness and power source. The resolution segment is further bifurcated into resolution up to 480p and 720p resolution. Out of which, the resolution up to 480p was initially launched and is considered as value for money kind of device. Owing to this, the 480p resolution segment holds the largest market share for pico projector market. Whereas, the growing demand for superior quality pico projectors is driving the growth of 720p resolution size segment.
The regional analysis of pico projector market is being studied for regions such as Asia Pacific, North America, Europe and Rest of the World. It has been observed that Asia Pacific is estimated to account for the largest share of the market and is also projected to grow at the fastest rate during the forecast period. The major growth in pico projector market in Asia Pacific is attributed to technological advancements and increasing innovations in the consumer electronics sector in that region.
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