What Is The Current and Historic Market Size Analysis Of The Pico Projectors Market?
The pico projectors market has seen considerable growth due to a variety of factors.
• The market size of pico projectors has significantly expanded in the past few years. The market is projected to increase from $4.28 billion in 2024 to $4.71 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 10.0%.
The escalation in the historical period can be credited to growing needs for mobile projection, home theatre, education and training, along with the increasing-healthcare industry.
What Are The Predictions for The Pico Projectors Market in the Coming Years?
The pico projectors market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for pico projectors is anticipated to undergo a swift expansion in the coming years, reaching a value of $7.27 billion in 2029 with an 11.5% compound annual growth rate (CAGR). The anticipated growth during this period can be credited to the need for utilization in business applications, the increase in online and remote working, demand originating from the automotive industry and investment in pico projectors. The key trends predicted to shape the market during this period encompass improvements in projection technology, wireless connectivity capabilities, laser projection technology, integration with internet of things (IoT) and smart devices, as well as the application of AI and voice control.
Which Drivers Are Accelerating Growth In The Pico Projectors Market?
The anticipated surge in consumer electronics demand is set to augment the pico projector market's growth. Defined as any electronic device built for the daily, personal, or professional operations of consumers or end-users, consumer electronics often utilize pico projectors. These projectors serve as user-oriented visual projectors that provide flexibility, mobility, and remove the demand for a permanent projection screen or elaborate setups. In January 2023, for instance, LG Corporation, a South Korean consumer electronics firm, published their annual financial report for 2022, showing a 12.9% rise in annual revenue to $52.70 billion. Revenues saw an increase of 10.3% from 2020, coming in at $22.5 billion in 2022. Consequently, the increasing demand for consumer electronics is fueling pico projector market growth. The advancing corporate sector is primed to boost the growth of the pico projector market. The corporate sector, referring to any businesses, organizations, and firms involved in diverse commercial, industrial, and service activities, broadly uses compact and portable pico projectors. Applications range from presentations and meetings to training sessions and digital signage, offering professionals significant comfort and adaptability. In September 2022, for example, the Office for National Statistics, a UK-based official statistics producer, reported an increase in the percentage of corporate businesses (companies and public corporations) up to 74.4% in 2022 compared to 73.6% in 2020. This burgeoning growth in the corporate sector will stimulate the expansion of the pico projector market.
What Are The Core Segments Of The Global Pico Projectors Market?
The pico projectors market covered in this report is segmented –
1) By Product Type: Embedded, Non-Embedded
2) By Component: Light Source, Illumination System, Projector Lens, Other Components
3) By Technology: Digital Light Processing (DLP), Laser Beam Steering, Holographic Laser Projection, Liquid Crystal On Silicon
4) By Application: Aerospace And Defense, Healthcare, Education, Automotive, Consumer Electronics, Other Applications
Subsegments:
1) By Embedded: Mobile Embedded Pico Projectors, Miniature Embedded Pico Projectors, Smart Device Embedded Pico Projectors
2) By Non-Embedded: Portable Non-Embedded Pico Projectors, Standalone Non-Embedded Pico Projectors, Battery-Operated Non-Embedded Pico Projectors
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How Are Emerging Trends Reshaping The Dynamics Of The Pico Projectors Market?
Leading businesses in the Pico projector market are prioritizing the development of technologically superior items, like adaptable projection systems, to boost portability, connectivity, and visual quality across both consumer and professional sectors. These versatile projection systems are advanced, adaptable units that provide several features for a range of environments and applications. Usual features encompass device connectivity, movability, and the capability to project onto different surfaces, improving usefulness for both personal and professional use. For example, ViewSonic Corporation, a renowned multinational electronics company based in the US that offers visual solutions, unveiled its newest M1X and M1S portable projectors in August 2024, adding to its widely-accepted M1 series. The novel models are equipped with a patented 3-in-1 smart stand, supporting 360-degree vertical projections and enhanced horizontal and vertical keystone correction for flexible side projection.
Who Are the Key Players In The Pico Projectors Market?
Major companies operating in the pico projectors market are:
• Dell Technologies Inc.
• Sony Group Corporation
• Lenovo Group Limited
• LG Electronics Inc.
• Xiaomi Inc.
• 3M Company
• Toshiba Corporation
• Texas Instruments Inc.
• Koninklijke Philips N.V.
• ASUSTeK Computer Inc.
• ZTE Corporation
• Delta Electronics Inc.
• Acer Inc.
• Eastman Kodak Company
• BenQ Corporation
• ViewSonic Corporation
• Brookstone Company Inc.
• Vankyo
• Miroir USA LLC
• Optoma Technology Inc.
• WowWee Group Limited
• Adapt Inc.
• CreNova Systems Co Ltd.
• AAXA Technologies Limited
• Celluon Inc.
What Are The Regional Insights Into The Pico Projectors Market?
North America was the largest region in the Pico projectors market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in pico projector market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
