Laser Projection Market Set for Explosive Growth to $10.53 Billion

According to the research report on “Laser Projection Market by Product Type (Laser Projector and CAD Laser Projection System), Illumination Type (Laser Phosphor, Hybrid, RGB Laser, Laser Diode), Vertical (Enterprise, Public Places, Cinema, Education), and Geography – Global Forecast to 2023," the laser projection market is poised for significant growth. The market, valued at USD 4.57 billion in 2018, is expected to reach USD 10.53 billion by 2023, achieving a CAGR of 18.2% over the forecast period.

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This robust growth is driven by the increasing demand for high-quality, vibrant, and long-lasting projection systems across various sectors, including corporate enterprises, public venues, cinemas, and educational institutions. The adoption of laser projectors is particularly accelerated by advancements in illumination technologies such as laser phosphor and RGB lasers, which offer superior color accuracy and brightness compared to traditional lamp-based projectors. Additionally, the rise of digital transformation initiatives and the need for dynamic and immersive visual experiences in both commercial and public spaces further propel the market forward. The strong foothold in technologically advanced regions and the continuous innovation by key market players also contribute to the expanding laser projection market.

The significant advantages of laser projectors over traditional lamp projectors, coupled with the increasing adoption of laser projection technology across various applications, are major drivers for the growth of the laser projection market. Laser projectors offer superior brightness, enhanced color accuracy, and longer lifespan, reducing the need for frequent maintenance and lamp replacements. These benefits lead to lower total cost of ownership and greater reliability, making laser projectors a preferred choice for sectors such as education, corporate, cinema, and public installations. The ability to provide consistent, high-quality images in various lighting conditions further enhances their appeal. Additionally, the rise in digital content and immersive experiences in fields like entertainment and advertising spurs the demand for advanced projection solutions, accelerating the market growth for laser projection technology. 

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Laser phosphor projector expected to hold major market share during forecast period

Laser phosphor projectors are expected to lead the market in 2018 due to their long lifespan and low maintenance requirements, making them ideal for high-use settings such as boardrooms, classrooms, houses of worship, museums, and location-based entertainment venues. A major benefit of using laser phosphor technology is the reduced total cost of ownership (TCO), as these projectors require less frequent maintenance and have a longer operational life compared to traditional lamp-based projectors. This makes them cost-effective and reliable for continuous usage. The increasing adoption of laser phosphor-based projectors across various applications is expected to drive market growth during the forecast period, as organizations and institutions seek durable and efficient projection solutions to enhance their visual displays and presentations.

Laser projection market for cinema to grow at highest CAGR between 2018 and 2023

The cinema market is projected to grow at the highest CAGR during the forecast period, presenting significant opportunities for players in the laser projection market. The increasing number of cinema screens worldwide, coupled with advancements in projection technology, fuels this growth. Laser projectors offer superior image quality, greater brightness, and lower maintenance costs, making them ideal for cinema applications. Barco, a leading company in the industry, is known for offering high-brightness laser projectors specifically designed for cinema, capitalizing on the demand for advanced, cost-effective projection solutions. These factors are expected to drive the expansion of the laser projector market within the cinema vertical.

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APAC expected to hold major share of laser projection market during 2018–2023

Asia Pacific is poised to dominate the laser projection industry during the forecast period, with China emerging as the major contributor between 2018 and 2023. The region is at the forefront of the laser projection market, particularly in the education and cinema segments, driven by substantial demand from countries such as China and India. The rapidly growing adoption of advanced projection technologies in educational institutions and the flourishing entertainment industry are key factors fueling this demand. Moreover, the expanding middle class and increasing disposable incomes in these countries are boosting investments in high-quality projection systems. As a result, Asia Pacific is expected to offer significant growth opportunities for the laser projection market, solidifying its position as the largest market share holder in the coming years.

Panasonic Corporation (Japan), Sony Corporation (Japan), Seiko Epson Corporation (Japan), Barco NV (Belgium), NEC Display Solutions (Japan), BenQ Corporation (Taiwan), Casio Computer Co., Ltd. (Japan), Optoma Corporation (Taiwan), The Ricoh Company, Ltd. (Japan), and Delta Electronics Industry Co., Ltd. (Taiwan) are the major players in the laser projection market. The report also includes the profiles of companies such as Canon Inc. (Japan), Christie Digital Systems (US), Digital Projection (UK), Dell (US), FARO Technologies, Inc. (US), Hitachi Digital Media Group (UK), LAP GmbH Laser Applikationen (Germany), ViewSonic Corporation (US), and Xiaomi Inc. (China).