Pico Projectors Global Market Report 2024

The global pico projectors market has grown rapidly in recent years. It will grow from $3.85 billion in 2023 to $4.28 billion in 2024 at a compound annual growth rate (CAGR) of 11.0%. The growth in the historic period can be attributed to rising demand for mobile projection, home entertainment, education and training, growing healthcare.

The global pico projectors market is expected to see rapid growth in the next few years. It will grow to $6.46 billion in 2028 at a compound annual growth rate (CAGR) of 10.8%. The growth in the forecast period can be attributed to demand for business applications, growth in online and remote work, demand for automotive industry, investments pico projectors. Major trends in the forecast period include advancements in projection technology, wireless connectivity, laser projection technology, iot and smart devices, ai and voice control.

The surging demand for consumer electronics is poised to be a driving force behind the growth of the pico projector market in the foreseeable future. Consumer electronics encompass a wide range of electronic devices designed for daily, personal, or professional use by consumers and end users. Pico projectors serve as versatile and portable image projectors within the realm of consumer electronics, rendering dedicated projection screens and intricate setups unnecessary. For instance, according to LG Corporation's 2022 annual financial report, a South Korea-based consumer electronics company, LG's annual revenue witnessed a substantial 12.9% increase, reaching $52.70 billion in 2022. Moreover, revenue in 2022 amounted to $22.5 billion, marking a robust 10.3% growth from 2020. Consequently, the escalating demand for consumer electronics stands as a significant catalyst for the flourishing pico projector market.

Anticipated growth in the corporate sector is set to be a key driver of the pico projector market's expansion. The corporate sector encompasses businesses, organizations, and companies involved in a wide range of commercial, industrial, and service activities. Pico projectors, being compact and portable devices, find extensive use within the corporate sector for applications such as presentations, meetings, training sessions, and digital signage, providing convenience and flexibility to professionals. For example, as reported by the Office for National Statistics in September 2022, the percentage of corporate businesses, which includes both companies and public corporations, increased to 74.4% in 2022, up from 73.6% in 2020. Consequently, the ongoing expansion of the corporate sector is poised to be a driving force behind the growth of the pico projector market.

The growth of the pico projector market is anticipated to be hampered during the forecast period due to limitations in battery life. The restricted battery capacity of pico projectors can place constraints on their operational efficiency and portability, resulting in potential user inconveniences and disruptions to presentations. As reported by CNET, a prominent media website, pico projectors typically come with built-in batteries that offer a relatively short lifespan, often lasting just a little over 1.5 hours. This limitation in battery life presents a significant challenge to the expansion of the projector market.

Leading companies within the pico projector market are placing a strong emphasis on the development of technologically advanced products, particularly in the realm of imager technology. This strategic focus is aimed at gaining a competitive edge and sustaining their market positions. Imager technology involves the use of machinery or sensors to detect and transmit information for image formation. For instance, in January 2021, AAXA Technologies Inc., a technology company based in the United States, introduced the P6X Pico Projector. This projector represents the world's brightest battery-powered pico projector and features cutting-edge components, including Osram LEDs and Texas Instrument's digital light processing imager technology, alongside a substantial 54-watt lithium-ion battery. Notably, it has the capability to deliver 1000 LED lumens on battery power.

In May 2023, VANKYO, a prominent US-based electronics manufacturer, specializing in Pico projectors, joined hands with Roku, a renowned US-based digital media player manufacturer. This collaboration led to the creation of an innovative product - the VANKYO Leisure 470 Roku kit. This kit seamlessly combines VANKYO's cutting-edge technology with Roku's extensive content library. Notably, the kit features VANKYO's popular Leisure 470 mini projector, known for its exceptional image and audio quality, along with the Roku Express streaming device. This pairing allows users easy access to a wide range of popular TV channels, movies, sports events, and various other content for an enhanced entertainment experience.

Major players 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.

North America was the largest region in the Pico projectors market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in pico projector report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the pico projector market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Pico projectors are primarily categorized into two main types are embedded and non-embedded. In this context, "non-embedded" signifies that a resource, tool, or facility is not integrated into the final product. These projectors consist of various integral components, including a light source, illumination system, projector lens, and other technological features such as digital light processing (DLP), laser beam steering, holographic laser projection, and liquid crystal on silicon. These technological components find applications across diverse sectors such as aerospace and defense, healthcare, education, automotive, consumer electronics, and various others.

This report provides pico projectors market statistics, including pico projectors industry global market size, regional shares, competitors with a pico projectors market share, detailed pico projectors market segments, market trends and opportunities and any further data you may need to thrive in the pico projector industry. This pico projectors market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The pico projector market consists of sales of standalone pico projectors, smart pico projectors, laser pico projectors and HD pico projectors. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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