Laser Projection Market Trends, Capacity, Production, Analysis And Forecast 2023

The Laser Projection Market is estimated to be worth 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 growth of this market can be attributed to the growing demand for RGB laser projectors in cinema and rising demand for high-brightness projectors.

This report segments the laser projection market by product type, illumination type, resolution, vertical, and region. The market, by product type, has been segmented into laser projector and CAD laser projection system. The market for laser projector is expected to grow at the highest CAGR between 2018 and 2023. Demand for laser projectors is increasing owing to their low maintenance cost, less power consumption, and high picture quality. Demand for high-brightness laser projectors in cinema and the increasing number of digital cinema screens in many countries drive the adoption of laser projectors. Major companies offering laser projectors are Epson (Japan), Barco (Belgium), Panasonic (Japan), Sony (Japan), and NEC Display Solutions (Japan), among others.

The laser projection market, by illumination type, has been segmented into laser phosphor, hybrid, RGB laser, and laser diode. The market for laser phosphor projector is expected to grow at the highest CAGR during the forecast period. Laser phosphor projectors have ~15,000–25,000 lumens, with an estimated lifetime of 30,000 hours to 50%. The primary advantage of a laser phosphor projector is the long lifetime (~30,000 hours before it reaches 50% brightness). The long life and low maintenance cost of laser phosphor projectors make them ideal for high-use settings, such hospitality events, museums, education, government departments, large venues, and movie theaters.

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Laser phosphor projector expected to hold major market share during forecast period

Laser phosphor projector is expected to lead the market in 2018. 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. A major benefit of using laser phosphor is reduced total cost of ownership (TCO). The increasing adoption of laser phosphor-based projectors for various applications is expected to drive the market during the forecast period.

Laser projection market for cinema to grow at highest CAGR between 2018 and 2023

The market for cinema is expected to grow at the highest CAGR during the forecast period. The cinema vertical is expected to create ample opportunities for players in the laser projection market. The increasing number of cinema screens across the world and advancements in projection technology with less maintenance cost provide opportunities for the laser projector market growth. Barco is one of the major companies offering high-brightness laser projectors for cinema applications.

APAC expected to hold major share of laser projection market during 2018–2023

Asia Pacific is expected to hold the largest share of the laser projection market during the forecast period. In APAC, China is expected to be the major contributor to the laser projection market between 2018 and 2023. APAC is the leading laser projection market for education and cinema segments, with major demand driven by countries such as China and India. APAC is expected to provide ample opportunities for the laser projection market growth during the forecast period.

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