According to the latest report by IMARC Group, titled “Pico Projectors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global pico projectors market size reached US$ 1.91 Billion in 2018. Pico projectors refer to ultra-portable projectors that project the content from a smartphone, tablet, camera or any other memory device onto a flat surface. These projectors primarily use LED light engines and can run on their internal batteries for a span of over 1 to 2 hours. Nowadays, pico projectors are gaining immense popularity as home entertainment devices as they project an image larger than that projected by a laptop for streaming movies and general TV or sports programs.
Global Pico Projectors Market Trends:
Pico projectors are compact in size, consume low energy, and offer higher resolution and high-quality images as compared to the conventional, bulky projectors. They also enable information to be accessed and shared easily from portable devices. Owing to these features, there has been an increase in the sales of pico projectors across the globe. Besides this, they are extensively used in the defense sector for real-time 3D visualization of enemy positions, bunker locations, and plot charts of sea- or land-based force structures. Also, many leading companies are developing advanced pico projectors by using laser scanning micro projection technology to enhance their functionality. This technology is expected to further penetrate in wearable devices and automotive industries to provide next-generation augmented reality (AR) displays and human-machine interactivity. Owing to these factors, the market value is projected to reach US$ 4.24 Billion by 2024, registering a CAGR of around 14% during 2019-2024.
- Based on the technology, the market has been segmented into digital light processing (DLP), laser beam steering, holographic laser projection and liquid crystal on silicon.
- On the basis of the product type, the market has been bifurcated into embedded and non-embedded pico projectors.
- The market has been segmented into the component, which includes light source, illumination system, projector lens and others.
- The report has analyzed the market according to the specification, which consists of brightness and power source.
- On the basis of the compatibility, the market has been classified as laptop/desktop, smartphones, digital camera, portable media players and others.
- The market has been segregated on the basis of the application into consumer electronics, business & education, retail, healthcare and others.
- Region-wise, the market has been divided into North America, Asia Pacific, Europe, Middle East and Africa, and Latin America.
- The competitive landscape of the market has also been examined in the report. Some of the key players operating in the market include Lenovo Group Limited, Aaxa Technologies Inc., Texas Instruments Incorporated, Acer Inc., LG Electronics Inc., Microvision Inc., Sony Corporation, ZTE Corporation, Koninklijke Philips N.V., RIF6 LLC, Celluon Inc., Cremotech Co., Ltd., Global Aiptek Corporation, Miroir USA and Optoma Technology Corporation.
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