Advanced Cinema Projector Market Overview and Growth by 2028

[Research Report] The Advanced Cinema Projector market is expected to grow from US$ 1,100.69 million in 2021 to US$ 1,861.33 million by 2028; it is estimated to grow at a CAGR of 7.8% from 2021 to 2028.

Rapid growth in demand for advanced technologies in the film industry and increase in installation of digital displays are driving the advanced cinema projector market across the globe. The advanced cinema projectors efficiently project an image onto a large surface such as a white screen or a wall and are used as an alternative to a television set or monitor to showcase videos or images to a large audience. Increase in disposable income of the individuals, rise in number of cinema hall/ theaters/ multiplexes, and surge in number of filmgoers across the globe is forcing the market players to develop advanced technological cinema projectors. Furthermore, the increasing development of 3D movies by the production houses to offer enhanced experience to the viewers is boosting the demand for advanced 3D laser projectors.

The advantages of advanced cinema projectors such as better picture quality, enhanced brightness, and color feature, to boost the overall visual experience of the viewer, are driving the market globally. Moreover, during the time of COVID-19 pandemic, the demand for advanced cinema projectors for residential application as a home theater has increased immensely, owing to the enhanced flexibility, color accuracy, incredible brightness, and portability. Additionally, the mounting demand from the customer to enjoy sport events in clubs/restaurants/hotels and outdoor cinema watching is also supporting the growth of commercial advanced cinema projectors, is boosting the adoption of advanced cinema projectors in the market.

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Advanced Cinema Projector Market: Strategic Insights

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.

Advanced Cinema Projector Market Insights

Rising Adoption of Advanced Cinema Projectors Across Residential Sector Globally

The advanced cinema projector for residential application is constantly gaining popularity in the market as customers are curious to have high quality visual experience at home. Additionally, increasing spending capacity and rising disposable income are boosting the adoption of advanced cinema projectors as a home theater application. Also, lockdowns initiated by the governments to prevent the spread of COVID-19 has 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 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.

Illusion Source-Based Market Insights

Based on illumination source the market is segmented into lamp 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.

End User- Based Market Insights

Based on end user the market is segmented into residential and commercial. The commercial segment dominates the market, as majority of the cinema theatres use laser projectors, and the demand for 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 COVID-19 impact, the demand of residential projector is boosting across the world.

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.

The regional trends and factors influencing the Advanced Cinema Projector Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Advanced Cinema Projector Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Advanced Cinema Projector Market Report Scope

Advanced Cinema Projector Market Players Density: Understanding Its Impact on Business Dynamics

The Advanced Cinema Projector Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

The global Advanced Cinema Projector market has been segmented as follows:

Advanced Cinema Projector Market – by Illusion Source

• Lamp
• RGB Pure Laser

Advanced Cinema Projector Market – by End User

• Residential
• Commercial

Advanced Cinema Projector Market – by Resolution

• 2K
• 4K

Advanced Cinema Projector Market – by Lumen

• 1000 – 5000
• 5001 – 10000
• 10001 – 30000
• Above 30000

Advanced Cinema Projector Market – by Geography

• North America
  • US
  • Canada
  • Mexico
• Europe
  • France
  • Germany
  • Italy
  • Russia
  • UK
  • Russia
  • Rest of Europe
• Asia Pacific (APAC)
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Rest of APAC
• Middle East & Africa (MEA)
  • Saudi Arabia
  • UAE
  • South Africa
  • Rest of MEA
• South & Central America (SAM)
  • Brazil
  • Argentina
  • Rest of SAM

Company Profiles

• Barco NV
• BENQ Corporation
• Christie Digital
• Delta Electronics, Inc.
• Hitachi Ltd.
• Infocus Corporation
• LG Electronics Inc.
• Optoma Corporation (Coretronic Corporation)
• Panasonic Corporation
• Sharp Corporation