Emphasis on Development of Next Generation Cinema Projectors to Provide Growth Opportunities for Advanced Cinema Projector Market
According to our latest market 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.
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 boothless 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 illumination source, the market is further segmented into lamp 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 resolution, the market is segmented into 2K and 4K. In 2021, the 2K segment accounted for a significant share in 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 in the global advanced cinema projector market.
The advanced cinema projector market has been segmented on the basis of illumination source, end user, resolution, lumens, and geography. The illumination source in the advanced cinema projector market consists of lamp 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.
Impact of COVID-19 Pandemic on Advanced Cinema Projector Market
The COVID-19 pandemic has hit hard on several industries across the globe, thereby, decimating the demand for various electronics industry products. The electronics industry players have observed steep decline in their revenues in 2020, however, since the beginning of 2021, the companies have been witnessing notable growth in their product among certain countries. The cinema projector manufacturers also experienced decline in their revenues as the demand dropped substantially as majority of the cinema theatres were shut down by the governments to curb the spread of COVID-19. This resulted in revenue loss among the cinema theatre owner, which in turn restricted them to opt for advanced projection solutions to enhance the customer experience. This parameter hindered the growth of advanced cinema projector market in 2020.
In addition to cinema theatres the cinema projectors are also procured by various restaurants and hotels to entertain their customers. However, the emergence and rapid spread of the COVID-19 virus, pushed the hospitality to temporarily shut their business, which again restricted the purchase of newer or advanced projectors. This ultimately hampered the businesses of advanced cinema projector market players. Apart from demand side, the supply side of the advanced cinema projector market also affected the growth of the market. This pertains to the closure of borders which led to disruption in supply chain of several components/parts. This resulted in reduction in production volumes, thereby, negatively impacting the growth of the 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.
Advanced Cinema Projector Market — by Geography
Advanced Cinema Projector Market - Research Report 2028
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Advanced Cinema Projector Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Illumination Source (Lamp and RGB Pure Laser), End User (Residential and Commercial), Resolution (2K and 4K), Lumens (1000-5000, 5001-10000, 10001-30000, and Above 30000)
Advanced Cinema Projector Market - Research Report 2028
Download Free SampleAdvanced Cinema Projector Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Illumination Source (Lamp and RGB Pure Laser), End User (Residential and Commercial), Resolution (2K and 4K), Lumens (1000-5000, 5001-10000, 10001-30000, and Above 30000)
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