Smart Home Projector Market - Forecasts from 2023 to 2028

The smart home projector market is projected to grow at a CAGR of 8.92%, reaching US$6.375 billion in 2028 from US$3.505 billion in 2021.

A smart home projector, commonly called just a smart projector, is a portable device that uses modern display-based technologies with integrated functionalities. These devices offer connection facilities with smartphones, laptops, home networks, and content-providing services to give a seamless viewing experience to consumers.

Technological advancements are positively impacting market growth.

The developments in projection technologies and their integration abilities are key driving factors for the growth of this industry. As projectors are becoming smarter and becoming more capable of seamless integration with consumer electronics such as mobile phones, laptops, and desktops, there is an increasing scope for the applications of these smart home projectors. The ease offered in connecting different source devices to projectors for its usage encourages consumers to purchase this product for different needs, such as regular television watching, home theatre experiences, etc. The rise in online gaming culture is also contributing to the demand for smart projectors as passionate gamers tend to spend a lot of money on the devices needed for a better gaming experience, which includes purchasing smart projectors that can be connected to gaming consoles or computers to allow playing games on bigger screens, especially multiplayer games that can be played with friends or family. Another related factor is the growing urbanization and rising disposable incomes of people, allowing them to spend money on recreational devices such as smart home projectors that improve their living standards. Key businesses in this market have recently experienced positive effects on their revenues due to such efforts.

High maintenance of projectors and cybersecurity risks are expected to remain significant challenges.

A significant challenge faced by this industry relates to the high need for maintenance for most smart home projectors compared to most modern LED/LCD televisions, which hinders the industry's growth as it negatively impacts the demand for the product. Additionally, the introduction of large-sized televisions with the latest display features and smart capabilities has further hampered the industry's growth as it has emerged as a substitute for smart projectors, requiring much less maintenance than most smart home projectors. Another concern regarding smart home projectors concerns the additional cybersecurity risks of privacy and security associated with integrating these smart projector devices into home networks. This can leave consumers exposed to the threats of cyberattacks. This is another major factor restraining the growth of the smart home projectors market.

Market Developments:

• In January 2023, LG Electronics announced the launch of its latest CineBeam Smart Portable Projector, designed to provide the feeling of a home theatre in any room. It is lightweight, which makes it easier to carry to different rooms or places, provides high-quality display resolution, and offers integration facilities with smart electronics and streaming services.
• In March 2023, Seraphic Information Technology announced the launch of its new smart projector that provides support for all the big streaming services globally and internet connectivity capability for web browsing.
• In October 2021, BenQ announced the launch of its new GV30 smart wireless portable projector, offering a greater projection angle along with increased connectivity capacity and longer battery life.

North American region is expected to hold a significant share of the smart home projector market.

North America is expected to constitute a significant market share, and similar trends will be followed in the forecast period. This market share is due to the demand increase for brighter and more power-efficient display options and a large urban population with growing needs for recreational purposes and home upgrades. The Asia-Pacific region is also expected to experience fast growth due to developing economies, increased living standards among urban populations, and a trend of adopting Western lifestyle standards. Some countries in this region, such as China and India, account for a considerable proportion of the world's population. As these countries are increasingly urbanized, the demand for luxury products such as smart home projectors will increase.

Market Segmentation:

BY TYPE

• LED Based
• Laser Based

BY TECHNOLOGY

• DLP
• LCD
• LED
• Others

BY SALES CHANNEL

• Online
• Offline

BY GEOGRAPHY

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• Germany
• France
• United Kingdom
• Spain
• Others
• Middle East And Africa
• Saudi Arabia
• UAE
• Israel
• Others
• Asia Pacific
• China
• Japan
• India
• South Korea
• Indonesia
• Taiwan
• Others