NEW YORK, May 02, 2019 (GLOBE NEWSWIRE) -- The demand for 4K Projector market is projected to reach 1,221.0 million USD by 2024, actuating at an estimated CAGR of 13.9% from 2019 to 2024. 4K Projectors are gaining popularity and are being adopted across professional and home markets, owing to superior image quality of 4K images and video, hyper realistic and crisp in nature and packed full of detail. Growing usage of 4K projection across various applications such as movie theaters, large venues, museums, auditoriums, and classrooms have resulted in greater demand for 4K projectors in the past few years and the trend is expected to continue over the forecast period. Moreover, application of 4K projectors in home entertainment system has gained momentum by changing the viewing experience of available 4K content across number of flexible projection display sizes. These driving factors tend to propel the demand for 4K projectors and hold significant market opportunity for the players operating in the market.
Key findings from the report:
• The global 4K Projector market is expected to reach 1,221.0 USD million by 2024 at a CAGR of 13.9%
• Based on Projection Technology:
- DLP projection is widest adopted system in projection technology and is accounted to hold majority share of the market
Based on Operation Mode:
- Reflective medium is most used technology in projectors and hold majority share of the market
• Based on Region
- North held the majority of the share of the global market in 2018. Asia-Pacific is expected to exhibit high CAGR over the forecast period
• Some of the key companies operating in the market include Optoma Technology Corp., Sony Corporation, Panasonic, BenQ, Canon, NEC, Barco, Epson, JVC, Viewsonic among others
4K Projector : Becoming New Resolution
With continuous technological development and innovations in projection technology 4K provides comprehensive solution to meet varying demands of different users, including, digital signage, education classrooms, office meetings, home theatre and others. Demand for 4K projectors is growing due to increasing demand for high pixel resolution images and video free from image artifacts or noise. Manufacturers across the globe are keen to work towards reduced price of these projectors and have invested heavily in order to bring down the cost of 4K projectors, making it a preferred choice among various groups of consumers over the coming years. Further, development towards standardizing 3D screening in 4K resolution would expand the market size and have positive impact on the overall growth of the market.
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4K Projector Market - Regional Insight
North America represented the largest 4K projector market across the globe in 2018. U.S. is at the forefront in the region due to large consumer base coupled with high expenditure income. Given the technological advancements in the region, demand for advanced resolution, brightness and in depth detailed display tools has also been high. This in turn has propelled the growth of the 4K projector market in the North American region. The 4K projectors market in Europe has expanded due to constant initiatives to upgrade 4K technologies and efforts to expand 4K industry. Asia-Pacific is expected to be the prominent region with increasing 4K services and activities aiding to the rise of 4K projector market.
The report segments global 4K Projector market on the basis of projection technology, operation mode, application, light source, type and region.
4K Projector Market, By Projection Technology
- DLP
- LCD
- LCOS
- Others
4K Projector Market, By Operation Mode
- Transmissive
- Reflective
4K Projector Market, By Application
- Commercial
- Home Entertainment
4K Projector Market, By Light Source
- Laser
- Lamp
- LED
- Xenon
- Hybrid
4K Projector Market, By Type
- Entry-Level
- Mid-Tier
- Premium
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