The interactive projector market is growing due to an increase in demand from the education sector. The interactive projector elaborates directly onto videos in educational institutes. The global interactive projector market was valued to be $1.5 billion in 2018. Demand for interactive projectors is poised to grow at a CAGR of 18.45% during the forecast period 2019-2025.
IndustryARC’s report titled, “Interactive Projector Market: Global industry analysis by technology (DViT, Infrared Optical, Electromagnetic, and Others), by Application (Education, Corporate and Government) & by region – Forecast (2019-2025)”, offers an in-depth strategic analysis, which includes value chain analysis, opportunities analysis, product life cycle, suppliers & distributors market share. Additionally, the report documents the drivers, constraints, and challenges in the interactive projector market.
Interactive Projector Market: Leading Segments
North America is currently dominating the interactive projector market. The use of interactive projectors are common in order to enhance the skills of the students by providing them with audio and visual learning. Therefore, an increase in the adoption of e-learning & virtual learning in schools, colleges, and Universities such as K-12 education in the United States, is growing substantially. The use of interactive projectors is the fastest growing technology adopted in the educational sector in the U.S. Furthermore, increasing investments in the educational sector by the government in order to encourage technological advancements in the U.S and Canada is an essential factor driving growth of the interactive projector market in North America. Owing to these factors, the North American interactive projector market helda share of 39.75% in 2018.
As per the report, the fastest growing segment for the interactive projector market is the corporate sector. Interactive projectors are being increasingly used in the corporate sector for virtual presentations and conferences.Growth in the corporate sector is increasing demand for interactive projectors. This key segment is expected to grow at a CAGR of 22.78% during the forecast period.
Interactive Projector Market: Market Trends and Growth Drivers
- Smart Homes Industry Driving Growth for Interactive Projectors
The smart homes industry is gaining traction globally, and this is leading to increased demand for interactive projectors. The demand for interactive projectors has increased with the emergence of the Internet of things (IoT).For instance, in 2019, Bosch launched an interactive projection module that enhances smart homes with the virtual touchscreen.
- 3LCD Interactive Projector
3LCD projectors are more energy efficient, have better resolution and produce images that are brighter than other projectors. 3LCD projectors deliver vibrant and pragmatic images. Owing to attributes such as this, there is immense increase in the demand for 3LCD projectors in the corporate sector.
- Smart Laser Cinema Projector
The marketplace is witnessing an increasing demand for the smart laser cinema projector. These projectors can turn any flat surface into a touchscreen. These projectors are embedded with Bluetooth 4.0, portable Bluetooth speakers, dual antennas, and dual receivers and are being increasingly used in the smart home industry. Hence, the interactive projectors market is expected to grow substantially in the forecast period.
- DLP Projection Technology
Digital light processing (DLP) is a technological advancement in the projectors market. DLP projectors are being widely used in digital screens of consumer applications and in the entertainment industry. Owing to this, demand for DLP projectors is growing.
Interactive Projectors Market: Competitive Landscape
Innovation is paramount to survive in this marketplace. Consequently, companies are investing in R&D activities to carve a niche for themselves. The major companies investing in the global interactive projector market are NEC Display Solutions, Ltd., Optoma Technology Inc., Touchjet Inc., ProVision Technologies, Texas Instruments Incorporated,Seiko Epson Corp., Sharp Corp.,Smart TechnologiesCorporation, Epson America, Inc., Dell Technologies Inc., Panasonic Corp., Casio Computer Co. Ltd., and Mimio Boxlight.
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