Projection Mapping Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 4.33 Billion |
| Market Size (2029) | USD 11.38 Billion |
| CAGR (2024 - 2029) | 21.31 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Projection Mapping Market Analysis
The Projection Mapping Market size is estimated at USD 4.33 billion in 2024, and is expected to reach USD 11.38 billion by 2029, growing at a CAGR of 21.31% during the forecast period (2024-2029).
Projection mapping technology has been experiencing tremendous adoption rates across the world, majorly due to its seamless integration of the physical and virtual worlds by superimposing computer-generated graphics upon real surfaces, unlike traditional augmentation technologies like VR, thus allowing various users to directly encounter this augmentation without using any peripherals, such as glasses.
- The technical limitations of the conventional projector hardware, including dynamic range, spatial resolution, latency, depth-of-depth, and color gamut, make it challenging to display desired appearances in wanted visual quality, even with the application of computational algorithms, which is driving the adoption of projection mapping.
- The rising demand for projection systems for reality-smashing and immersive visual spectacles in festive occasions, mega sports events, and the hospitality industry is fostering the growth prospects for the projection mapping market. Over the past few years, 3D projection of objects has gained significant traction in various applications, and the opportunities are expected to remain lucrative with advanced technological innovations. This is expected to open lucrative avenues in the coming years as well.
- Projection mapping has penetrated the media and entertainment industry and public events, including concert halls and product launches, to hype up the audience's excitement. It plays a key role by emotionally engaging the audience, increasing the wow factor, and promoting greater participation.
- The high installation cost associated with the dimension implementation type limits market expansion. Moreover, factors such as continuous projector advancements and associated technology increase expenditures. These reasons are causing client dissatisfaction, and as a result, customers are migrating to alternative solution providers that give cost-effective services. Furthermore, a lack of technical competence and understanding impedes the expansion of the projection mapping sector.
- The COVID-19 pandemic impacted the projection mapping industry, especially land-based events, owing to the complete ban on social gathering events worldwide. Moreover, the projection mapping market also experienced a significant decline in growth due to the global lockdowns and reduction in travel and tourism activities for various venues and heritage sites. For instance, according to the data from the UNWTO, the number of international tourist arrivals was 1,466 million in 2019, which drastically reduced to 409.5 million and 446.2 million in 2020 and 2021, respectively; such instances, further negatively impacted the growth in demand of projection mapping for live events, major sports events, and various world heritage sites. Various social gathering events started post-pandemic, and the market has grown rapidly.
Projection Mapping Market Trends
Mapping Software Expected to Hold Significant Market Share
- Software for projection mapping is anticipated to witness faster growth than its hardware counterparts owing to the cost, sustainability, support, ease of use, integration/compatibility with third-party hardware, and tailored solutions offered by a few vendors.
- The pure-play mapping software vendors focus on developing projection mapping tools that make deploying projects easier and optimized for viewing the audience. For instance, The Mapping software solution provided by HeavyM is a ready-to-use solution that requires no animation skills to create projection mapping effects.
- Furthermore, many other vendors offer projection mapping software solutions that manage complexities such as s imaging warping and soft-edge blending, which is a very time-consuming process of aligning the projections and stacking projectors. Also, researchers' further developments of algorithms such as high-resolution projection, non-rigid dynamic projection, and local per-pixel radiometric compensation, among others, further elevate the growth.
- A few software solutions are also designed for real-time projects that benefit end-users to host events such as live performances. Thereby supporting better penetration of the market. According to FICCI, In 2021, the live events market across India was valued at INR 32 billion (USD 0.39 billion). It was estimated to reach INR 74 billion (USD 0.89 billion) by next year, registering a CAGR of 32%.
Asia Pacific to Witness the Fastest Market Growth
- The Asia-Pacific region is anticipated to witness major growth over the forecast period, as the region leveraging the conduction of major global events, presence of historical museums, and government bodies focusing on tourism as a source of earning elevate the growth of the market. The countries in the region, such as India, are expected to witness significant adoption of technologies such as projection mapping, leveraging the market's growth in the region. The area is leveraging the conduction of major global events, the presence of historical museums, and government bodies focusing on tourism as a source of earning, elevating the market's growth.
- The countries in the region, such as Singapore, are home to major festivals, events such as the annual Singapore Night Festival, I Light Marina Bay, and annual Marina Bay that relies on technologies such as projection mapping to leverage the growth of the market in the region.
- The countries in the region, such as India, are expected to witness significant adoption of technologies such as projection mapping, leveraging the market's growth in the region. Through projection mapping, the project designer can rely on the power of immersive, unconventional visuals and sound to convey meaning and message, often previously the scripted spoken word that movie filmmakers have at their disposal. Hence, adopting such technologies is expected to increase tourist places in the region due to a rapid increase in the country's tourism influx.
- Further, various state governments across the country are using projection mapping to show the rich culture of the cities and heritage sites, thus driving the growth of the projection mapping market. For instance, in December 2022, according to the communique issued by the divisional commissioner office, Kanpur, the Projection Mapping Show on the historical façade of Gandhi Bhawan Kanpur will be open for free from December 11, 2022, to January 1, 2023, to spread the word about the magnificent show and attract local visitors and tourists. The half-an-hour show will deliver the visitors an introduction to the city and the historical/mythological facts related to the city.
- Similarly, in November 2022, a new 3D projection show - run entirely by solar power - was created at the Modhera village's (Gujrat) holy epicenter: the Sun Temple. Five Christie D20WU-HS projectors were installed with weatherproof, outdoor architectural lights from HARMAN Pro to illuminate the Sun temple's facade and create a mirror effect in the body of water in front of the monument. All content was delivered through AV Stumpfl's PIXERA media server software, a robust 64-bit system capable of 8K real-time rendering with intuitive 2D and 3D projection mapping workflows.
Projection Mapping Industry Overview
The Projection Mapping Market is highly fragmented, with the presence of major players like Panasonic Corporation, Seiko Epson Corporation, BenQ Corporation, Vivitek, and ViewSonic Corporation. Players in the market are adopting strategies such as partnerships, innovations, and acquisitions to enhance their product offerings and gain sustainable competitive advantage.
In February 2023, Barco 4K laser projectors and image processors were selected for the "1minute Projection Mapping Competition". This event is one of the largest global international projection mapping competitions held as part of TOKYO LIGHTS 2022 and organized by the Projection Mapping Association of Japan (PMAJ).
In May 2022, Vivitek, a visual presentation and collaboration solutions provider, announced the launch of the latest addition to its DLP laser projectors, the DU4871Z. The compact, high-brightness laser projector product features include excellent image quality and large projection size. The DU4871Z combines a sophisticated cooling design and advanced dust protection to aid longevity. This secure projector also boasts a wide range of diverse connectivity options, ensuring that it is as easy to use as its image quality.
Projection Mapping Market Leaders
Panasonic Corporation
Seiko Epson Corporation
BenQ Corporation
Vivitek
ViewSonic Corporation
*Disclaimer: Major Players sorted in no particular order
Projection Mapping Market News
- February 2023: Quince Imaging and Riot Games partnered to create a projection mapping experience for the 2022 LCS Final. Quince Imaging made Riot Games' pioneering vision a reality by mixing projection mapping with 3D scenic and LED components to create a robust canvas for the designers in Chicago. Light analysis with thorough programming and integration between house LED, projection, and production LED systems 3D modeling, scale mockups, pre-visualization, and execution employing 18 Panasonic PT-RQ35K projectors were all part of the project. Four Disguise Pro vx 4+ media servers were used for screen control-real-time graphics and Ventuz V6 for real-time effects and data integration.
- November 2022: California-based Christie announced the launch of a new GriffynSeries projector: the Christie Griffyn4K35-RGB pure laser 3DLP projector. The newly launched projector is one of the smallest and lightest high-brightness RGB pure laser projectors in Christie's product lineup. The projector can deliver 36,500 lumens in an all-in-one compact design, weighing 179 lbs.
- October 2022: Two new DuraCorelaser ProSceneprojectors, the ZU820T and ZU725T, were introduced by Optoma, a pioneer in the large display market. Along with supporting 4K and HDR, these products have advantages, including high brightness, color accuracy, and silent operation.
- September 2022: IKEA India hosted India's first synchronized projections across three cities - Bangalore, Mumbai, and Hyderabad with vibrant visuals using projection mapping - to convey a special message to many people. IKEA recently announced its new brand positioning for India - GharAa Jao, Come Home to IKEA - with an intent to build a stronger, deeper emotional connection with its customers, and this spectacular display was IKEA's way of inviting the many people to visit its home - the IKEA stores.
Projection Mapping Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitutes
4.2.5 Intensity of Competitive Rivalry
4.3 Industry Value Chain Analysis
4.4 Impact of COVID-19 on the Projection Mapping Market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Increasing Demand for Projection Size, and High Brightness of the Projectors
5.1.2 Rapid Growth of Smart Cities
5.2 Market Challenges
5.2.1 High Initial Costs
5.2.2 A lot of Time Consumption due to 3D Projection
6. MARKET SEGMENTATION
6.1 By Offering
6.1.1 Hardware (Projector, Media Server)
6.1.2 Software
6.2 By Dimension
6.2.1 2 Dimension
6.2.2 3 Dimension
6.2.3 4 Dimension
6.3 By Throw Distance
6.3.1 Standard
6.3.2 Short
6.4 By Application
6.4.1 Large Venue
6.4.2 Event
6.4.3 Festival
6.4.4 Entertainment
6.4.5 Other Applications
6.5 By Geography
6.5.1 North America
6.5.1.1 United States
6.5.1.2 Canada
6.5.2 Europe
6.5.2.1 Germany
6.5.2.2 United Kingdom
6.5.2.3 France
6.5.2.4 Rest of Europe
6.5.3 Asia Pacific
6.5.3.1 India
6.5.3.2 China
6.5.3.3 Japan
6.5.3.4 Rest of Asia Pacific
6.5.4 Latin America
6.5.4.1 Brazil
6.5.4.2 Argentina
6.5.4.3 Rest of Latin America
6.5.5 Middle East and Africa
6.5.5.1 United Arab Emirates
6.5.5.2 Saudi Arabia
6.5.5.3 Rest of Middle East and Africa
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Panasonic Corporation
7.1.2 Seiko Epson Corporation
7.1.3 BenQ Corporation
7.1.4 Vivitek
7.1.5 ViewSonic Corporation
7.1.6 Barco NV
7.1.7 Digital Projection
7.1.8 NEC Display Solutions
7.1.9 HeavyM (Digital Essence SAS)
7.1.10 Green Hippo Ltd.
7.1.11 Pixel Rain Digital
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
Projection Mapping Industry Segmentation
Projection mapping is a video projection technology that allows video to be mapped onto any surface, unlike traditional projectors that map only on flat screens. Projection mapping turns common objects such as runways, large venues, and stages into interactive displays that behave as a canvas with graphics projected onto the surface.
The scope of the report includes segmentation by offering (hardware (projector, media server), software), by dimension (2d, 3d, 4d), by throw distance (standard, short), by application (large venue, event, festival, entertainment), and by geography (North America (United States, Canada), Europe (Germany, United Kingdom, France, Rest of Europe), Asia Pacific (India, China, Japan, Rest of Asia Pacific), Latin America (Brazil, Argentina, rest of Latin America) Middle East and Africa (United Arab Emirates, Saudi Arabia, rest of the Middle East and Africa)).The market sizes
and forecasts are provided in terms of value in USD for all the above segments.
| By Offering | |
| Hardware (Projector, Media Server) | |
| Software |
| By Dimension | |
| 2 Dimension | |
| 3 Dimension | |
| 4 Dimension |
| By Throw Distance | |
| Standard | |
| Short |
| By Application | |
| Large Venue | |
| Event | |
| Festival | |
| Entertainment | |
| Other Applications |
| By Geography | ||||||
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Projection Mapping Market Research FAQs
How big is the Projection Mapping Market?
The Projection Mapping Market size is expected to reach USD 4.33 billion in 2024 and grow at a CAGR of 21.31% to reach USD 11.38 billion by 2029.
What is the current Projection Mapping Market size?
In 2024, the Projection Mapping Market size is expected to reach USD 4.33 billion.
Who are the key players in Projection Mapping Market?
Panasonic Corporation, Seiko Epson Corporation, BenQ Corporation, Vivitek and ViewSonic Corporation are the major companies operating in the Projection Mapping Market.
Which is the fastest growing region in Projection Mapping Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Projection Mapping Market?
In 2024, the North America accounts for the largest market share in Projection Mapping Market.
What years does this Projection Mapping Market cover, and what was the market size in 2023?
In 2023, the Projection Mapping Market size was estimated at USD 3.57 billion. The report covers the Projection Mapping Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Projection Mapping Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Projection Mapping Industry Report
Statistics for the 2024 Projection Mapping market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Projection Mapping analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
