Market Analysis
The global pico projector market size will touch USD 3.8 billion at a 15% CAGR during the forecast period 2020- 2027, states the latest Market Research Future (MRFR) analysis. Pico projector, also called mini beamer, mobile projector, handheld projector, or pocket projector, simply put, is an image projector that is used for projecting image through handheld devices. They are inbuilt in different devices like cameras, tablets, and mobile phones that make them popular as pico or pocket projector. They are miniature video, personal digital assistance, or image projectors that can be used in different applications where there is a requirement of projecting information on large screens.
Various factors are fuelling the global pico projector market growth. As per the recent MRFR market estimates, such factors include the growing need for handy and portable electronic devices, growing need for consumer electronics, the increase in the merging of pico projector into portable consumer electronics, proliferation of smartphone, and compatibility and portability with 3G/4G, Wi-Max, and Wi-Fi technologies offered by such products. The additional factors adding market growth include strong economic growth, rising consumer disposable income, growing adoption of smart devices, advent of internet of things, rising adoption of Bring Your Own Device policies in the corporate sector, developments in middle class, progressive government reforms, and applications of pico projectors in the consumer electronics segment.
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On the contrary, the impact of the COVID-19 pandemic, limited features, high cost, and low brightness of the projectors may limit the global pico projector market growth over the forecast period.
Market Segmentation
The MRFR report throws light on an inclusive segmental analysis of the global pico projector market based on component, type, technology, specification, and application.
By component, the pico projector market is classified into projection lens, light pipe, fly eye lens, illumination system, laser diodes, light emitting diodes (LED), and light source. Of these, the projection lens component segment will lead the market over the forecast period.
By type, the pico projector market is classified into non embedded pico projectors and embedded pico projectors. Of these, the embedded pico projectors type segment will dominate the market over the forecast period.
By technology, the pico projector market is classified into projection technologies in augmented reality, laser beam steering, liquid crystal on silicon (LCOS), and digital light processing (DLP). Of these, the laser beam steering technology segment will spearhead the market over the forecast period.
By specification, the global pico projector market is segmented into resolution (720p, up to 480p), brightness (150 lumens and above, 100-150 lumens, 50-100 lumens, 0-50 lumens), and power source (non-battery, in-built battery). Of these, the resolution specification segment will have the lions share in the market over the forecast period.
By application, the pico projector market is classified into automotive, consumer electronics, business and education, healthcare, and retail. Of these, the consumer electronics segment will command the market over the forecast period.
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Regional Analysis
By region, the global pico projector market covers the recent trends and growth opportunity across Europe, the Asia Pacific (APAC), North America, and Rest of the World (RoW). Of these, the APAC region will command the largest share in the market over the forecast period. China, Japan, and Korea, being the manufacturing hub for consumer electronic devices, increasing need for portable consumer electronics and innovations, most startups investing into pico projectors, rising consumer disposable income, early technology adopters, high domestic consumption, increasing adoption of BYOD policy, and technological development are adding to the global pico projector market growth in the region.
In Europe, the pico projector market is predicted to have second-largest share over the forecast period. The increasing adoption of BYOD policy in the corporate sector coupled with the demand for high-quality images are adding to the global pico projector market growth in the region.
Key Players
The eminent players profiled in the pico projector market report include Global Aiptek Corporation (Taiwan), Cremotech Co., Ltd. (South Korea), Koninklijke Philips N.V. (Netherlands), ZTE Corporation (China), Texas Instruments Inc. (U.S.), Aaxa Technologies Inc. (U.S.), Sony Corporation (Japan), Microvision, Inc. (U.S.), LG Electronics Inc. (South Korea), and Lenovo Group Limited (U.S.), among others.
Industry Updates
May 2021- AAXA Technologies has introduced the world’s brightest pico projector that is battery powered.
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