The interactive projector market is gaining traction from increased demand being generated from the educational sector, where the interactive projector enables annotations directly onto videos. Due to this, there is significant growth in the interactive projector market. The global interactive projector market size was valued at $1.5 billion in 2018, and 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 of the value chain, opportunities, product life cycle, suppliers & distributors market share. Additionally, the report documents the drivers, constraints, and challenges that will shape the future of the interactive projector market.
Interactive Projector Market: Leading Segments
North America is currently dominating the interactive projector market. Adoption of internet-based teaching is gaining prominence in the region due to this demand for e-learning & virtual learning such as K-12 education in the United States is growing substantially. It offers advantages such as efficient user interaction, real-time learning needs, multi-touch collaboration, easy integration of materials, PC-free interactivity, and multi-user standards. These advantages make learning more interactive and productive. Furthermore, increasing investments into the educational sector by the governments in the U.S. and Canada is another essential factor driving growth of the interactive projector market in North America. Owing to these factors, North America held a 39.75% share in the interactive projector market in 2018.
The fastest-growing segment is the corporate sector, which is increasingly adopting interactive projectors for virtual presentations and conferences. The growing corporate sector is simultaneously increasing demand for the interactive projector market. 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, leading to increased demand for interactive projectors. The growing technological advancement in regards to Internet of Things (IoT) in smart homes is anticipated to create several new opportunities. For instance, in 2019, Bosch announced the launch of an interactive projection module that enhances smart homes through utilization of virtual touchscreens.
· 3LCD Interactive Projector
3LCD projectors are more energy-efficient, have better resolution and produce images that are brighter than other projectors. The 3LCD projectors deliver images with vibrant and realistic hue. Owing to such technological advancements, there is an increase in the demand for 3LCD projectors from the corporate sector.
· Smart Laser Cinema Projector
The smart laser projector is an emerging trend in the interactive projectors market. 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 upcoming years.
· DLP Projection Technology
Digital light processing (DLP) is one of the leading technologies developed in the projectors. DLP projectors are being widely used in digital screens in the entertainment industry. Conversion of analog screens into digital screens is influencing digital projector to gain huge popularity. Owing to this, demand for DLP projectors is growing in the interactive projectors market.
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 that are operating 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 Technologies, Epson America, Inc., Dell Technologies Inc. , Panasonic Corp. Casio Computer Co. Ltd., and Mimio Boxlight (U.S.).
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