The market was valued at USD 1.80 billion in 2015 and is expected to grow at a CAGR of 36.22% and reach USD 8.62 billion by 2020. Handheld image projection devices or pico projectors are expected to see a high demand as a result of their numerous applications and interaction techniques. Pico projectors can be embedded in mobiles, tablets, and various consumer electronic devices. This suitability in integrating the projector with other electronic devices is further elevating the pico projector market. The pico projector is developed based on the laser beam steering, digital light processing and liquid crystal on silicon technologies. As a result of the wide applications of the laser beam and holographic projector technologies, this market is expected to witness a high growth rate during the forecast period.
The 3D holographic projection technology can construct and display a virtual object using the advanced image projection techniques and this property is further boosting the market. However, holographic laser projection projectors are expensive when compared to the other projectors. The laser beam steering technology offers high intensity and throughput, rapid pointing ability, mini size, reduced focus or issues and extended battery life.
Recent developments in pico projector technology have made personal projectors viable for the consumer market, where many models are now commercially available. The pico projector market has been further driven by the capability of optoelectronic systems and these projectors have been used in various industries like automotive, aerospace and defense, consumer electronics, healthcare, media and entertainment, and others. Pico projectors can make 3D motion pictures with a high resolution, where viewers can watch movies and games with a glass-free environment. South Korea and Japan have a promising market in the VR gaming technology.
Holographic pico projectors will allow people to project life-like interactive copies of themselves in different places without actually being there. Hologram USA specializes in this technology and is helping many political leaders across the world in their political campaigns by live broadcasting the 3D images through satellite in multiple areas at the same time. These applications can further enhance the way people communicate with each other and revolutionize the mobile communications. However, the rising public concerns about the side-effects produced by 3D and HD display technologies are restraining the market. Further, the expensive limited features are the biggest hurdle to the growth of the market.
The global pico projector market is segmented by technology (digital light processing, liquid–crystal-on-silicon, laser beam steering, holographic laser projection), component (light source, optics, batteries, MEMS technology, others), product (USB pico projector, embedded pico projector, media player pico projector, stand-alone pico projector), application(hand gesture recognition, pointer-based computer control, 3D pico projector, mobile devices, others), end-user industry (consumer electronic devices, automotive, healthcare, defense and aerospace, retail, media and entertainment and others) and region (North America, Asia-Pacific, Latin America, Europe, and Middle East).
The report includes a competitive assessment in terms of the overview of market players, profiles, products and services, business strategies, recent developments and innovation, market landscape, future trends and forecasts, and mergers & acquisitions.
The major companies dominating this market with their products, services, and continuous product development are:
Key Deliverables in the Study