DELRAY BEACH, Fla., Sept. 3, 2024 /PRNewswire/ — The global portable projector market size is projected to reach USD 2.1 billion in 2029 from USD 1.7 billion by 2024, with a CAGR of 4.4% according to a new report by MarketsandMarkets™. Key factors propelling the market growth include the rapid technological advancements and increased demand in educational and business sectors. Moreover, the increase in demand in entertainment sector mainly due to the expansion of the gaming industry and consumer electronics are expected to create significant opportunities for the portable projector market.
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Browse in-depth TOC on “Portable Projector Market”
101 – Tables
80 – Figures
270 – Pages
Portable Projector Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 1.7 billion
Estimated Value by 2029
$ 2.1 billion
Growth Rate
Poised to grow at a CAGR of 4.4%
Market Size Available for
2020–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Technology, Dimension, Resolution, Lumen, Projected Image Size , Application and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Limited Upgradeability
Key Market Opportunities
Reduction of average selling price of portable projectors
Key Market Drivers
Digital transformation in education sector
DLP Technology to grow at the highest CAGR during the forecast period.
DLP Technology is poised to experience the highest growth rate (CAGR) in portable projector market. DLP technology offers high contrast ratio, compact size and portability, superior color accuracy and durability compared with other technologies. DLP technology enables portable projectors to achieve high brightness. This makes DLP portable projectors suitable for a wide range of applications, from business presentations, home entertainment, healthcare and medical & education. The combination of these factors has helped to boost the popularity of DLP projectors in the portable projector market, allowing them to grow at a higher CAGR.
3D segment to grow at a significant CAGR rate during the forecast period.
3D is expected to hold a significant growth rate during the forecast period. This growth is due to their ability to create immersive and engaging viewing experiences, advancements in 3D technology and increasing availability of 3D content. The increasing adoption of 3D projection in presentations, gaming and education further boosts the growth of the market. These factors combined are contributing to the rising popularity of 3D portable projectors, giving them greater market potential in the future.
In projected image size below 50 inches to hold a significant market share during the forecast period.
In projected image size <50 inches is anticipated to hold a significant market share during the forecast period. These small projectors are ideal for personal use, including home entertainment, gaming and presentations. Its portability makes it easy for users to install it in various environments including small rooms, outdoor settings, and during travel. As consumers demand simpler and more convenient entertainment solutions, the demand for portable projectors with an image size under 50 inches will grow, further solidifying their position in the market.
In lumens, 500–3,000 lm is expected to hold a significant market share during the forecast period.
Portable projectors with lumen range of 500-3000 lm are expected to hold a significant market share during the forecast period. This range provides a balance between brightness and portability, making it suitable for a wide variety of applications like home entertainment, business presentations, classrooms, gaming, small conference rooms and outdoor viewing.
HD & FHD resolution to hold the highest market share in 2024 for portable projector market
The HD and FHD resolution segments are anticipated to hold the highest market share in the portable projector market in 2024. This is due to their ability to deliver exceptional image quality and meet the evolving demands of consumers. The widespread availability of HD & FHD content, sufficient image quality, compatibility and competitive pricing of these projectors also makes them the most popular choices for consumers seeking a balance of quality and affordability.
Educational applications are expected to grow at a significant CAGR rate during the forecast period.
The educational applications are projected to grow at a significant CAGR in the portable projector market during the forecast period. The increasing adoption of digital technologies in educational sector for enhanced teaching and learning experiences is driving the market growth. Moreover the educational policies taken by government bodies, funding programs, grants and subsidies encourages educational institutions to further adopt latest digital technologies. This growing emphasis on innovative teaching methods and the need for versatile educational tools position the portable projector market for substantial growth within the education sector.
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North America is expected to hold a significant market share during the forecast period.
It is anticipated that North America will retain a major market share of the portable projector industry during the forecast period. This is largely due to the region’s strong consumer electronics market, coupled with a high adoption rate of innovative technologies. The highly developed technology infrastructure in North America is also driving the market growth. The government emphasis for digitalization in educational sector, high disposable income and presence of major projector manufactures in the region further solidifies the market.
Major companies operating in this portable projector companies include Seiko Epson Corporation (Japan), Canon Inc. (Japan), LG Electronics. (South Korea), Eastman Kodak Company. (US), and ViewSonic Corporation (US).
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