The Insight Partners published the latest research study on “Advanced Cinema Projector Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by illumination source, end-user, resolution, and lumens” the global advanced cinema projector market is expected to grow from US$ 1100.69 million in 2021 to US$ 1861.33 million by 2028; it is estimated to grow at a CAGR of 7.8% from 2021 to 2028.
The advanced cinema projector for residential applications is constantly gaining popularity in the market as customers are curious to have a high-quality visual experience at home. Additionally, increasing spending capacity and rising disposable income are boosting the adoption of advanced cinema projectors as home theater applications. Also, lockdowns initiated by the governments to prevent the spread of COVID-19 have further propelled the demand for advanced cinema projectors. As a result, the customers are purchasing new home entertainment products such as advanced cinema projectors to enjoy their time indoors amid the pandemic. For instance, in September 2020, BenQ introduced the new BenQ TH585, a Full HD Home entertainment projector, in India. This new projector provides high resolution and high picture quality for customers to watch movies and shows on the screen at home.
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There is a constant rise in demand for advanced cinema projectors, owing to features such as high-definition and high-quality images and a better 4K viewing experience with high brightness, attractive colors, and extensive details. The market players are continuously focusing on developing advanced projectors that can be used in cinema halls, hotels/restaurants, and even at homes. These projectors can be easily mounted on ceilings, or they can be freestanding and portable. For instance, Cinionic invested hugely in developing four new Barco Series 4 projectors: SP2K-7, SP2K-9, SP2K-11, and SP2K-15. These advanced cinema projectors use laser technology to deliver flawless image quality for smaller screens and with a fully toothless design. These high-end ranges of projectors provide a new level of cinema entertainment with consistently high image quality, superb brightness, high contrast, vivid colors, and enhanced uniformity. The Barco Series 4 projector range is efficiently being integrated with next-generation light source technology. The Barco Colorgenic provides the full P3 color space on the SP2K models with 98.5% of rec. 2020 on the SP4K projectors to offer their customer an extensive color gamut. Therefore, the constant growth in the development of next-generation cinema projectors is creating a huge opportunity for the market players.
The advanced cinema projector market is segmented into illumination source, end-user, resolution, lumens, and geography. Based on the illumination source, the market is further segmented into lamps and RGB pure laser. In 2021, the RGB pure laser segment accounted for a significant share in the global advanced cinema projector market. In terms of end-user, the market is categorized into residential and commercial. In 2021, the commercial segment accounted for a significant share in the global advanced cinema projector market. Based on the resolution, the market is segmented into 2K and 4K. In 2021, the 2K segment accounted for a significant share of the global advanced cinema projector market. Similarly, in terms of lumens, the market is categorized into 1000–5000, 5001–10000, 10001–30000, and above 30000. In 2021, the 5001–10000 segment accounted for a significant share in the global advanced cinema projector market. Geographically, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). In 2021, Asia Pacific accounted for a significant share of the global advanced cinema projector market.
The advanced cinema projector market has been segmented on the basis of the illumination source, end-user, resolution, lumens, and geography. The illumination source in the advanced cinema projector market consists of lamps and RGB pure laser, out of which RGB pure laser dominates the market throughout the forecast period. The end-users of the advanced cinema projector market include commercial and residential. The residential segment is expected to grow at a faster pace during the forecast period. 2K and 4K are two resolutions in the advanced cinema projector market, where 2K dominates the market and 4K is projected to grow faster in terms of CAGR during the forecast period. The 5000 – 10000 Lumens segment holds the majority share in the advanced cinema projector market. Geographically, APAC to continue dominating the market throughout the entire timeline, followed by Europe.
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Advanced Cinema Projector Illusion Source-Based Market Insights
Based on the illumination source the market is segmented into lamps and RGB pure laser. The traditional projectors integrate lamps to generate light, and with the advancement, in technology, the RGB pure laser projectors are developed to offer enhanced quality of light and colors. The RGB pure laser segment dominates the market and is foreseen to continue dominating the market during the forecast period.
Advanced Cinema Projector End User-Based Market Insights
Based on end-user the market is segmented into residential and commercial. The commercial segment dominates the market, as the majority of the cinema theatres use laser projectors, and the demand for the transition of 2K to 4K is growing among the cinema theatre owners. This is propelling the commercial segment in the advanced cinema projector market. On the other hand, with the growing disposable income of the individual globally and due to the COVID-19 impact, the demand for residential projectors is boosting across the world.
The List of Companies – Advanced Cinema Projector Market
Barco NV; BenQ Corporation; Christie Digital Systems; Delta Electronics, Inc.; Hitachi, Ltd.; InFocus Corporation; LG Electronics; Optoma Corporation; Panasonic Corporation; and Sharp Corporation are among the major companies operating in the advanced cinema projector market.
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The players operating in the advanced cinema projector market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:
In 2021, Cinionic (Barco NV) has entered into a partnership with Cine Colombia. The deal is a culmination of ongoing support by Cinionic for Cine Colombia, the largest exhibitor in Colombia, with 339 cinema screens across 46 locations.
In 2020, Sharp Corporation and NEC Corporation had formed a joint venture to combine display solution businesses. They together will provide display solutions such as projectors under the new name Sharp NEC Display Solutions Ltd. This joint venture would create a new opportunity for delivering high-quality, innovative solutions to its customers globally.
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