PUNE, India -- During 2015, APAC was the largest light projector market and accounted for more than 45% of the market share in terms of the revenue generated. The increasing adoption of light projectors in the corporate and education sectors will aid in the growth of this market in the coming years. Also, the education sector is rapidly digitizing in this region, thereby fueling the demand for the light projectors until the end of 2020.
The analysts forecast global light projector market to grow at a CAGR of 8.92% during the period 2016-2020.Increasing adoption of low-cost, portable projectors by small- and medium-sized enterprises is one of the key factors driving the growth of this market. Also, the technology is fast becoming an affordable option for middle-class consumers due to the decreasing average selling price of light projectors. A high number of fixed installations are increasingly getting replaced by low-cost Pico projectors, and this is expected to propel the growth prospects of the light projector market during the forecast period.
The fixed installation projectors dominated the light projector market in 2015, but the pico projector segment is expected to hold the maximum market share by the end of 2020. Since fixed installation projector is installed in a designated area and requires a large amount of installation space, its demand is expected to dwindle over the next five years. However, pico projectors work on the same technology as fixed installation projectors to display an image. But the projector does not require a fixed screen, making it portable and easy to use. Therefore, the pico projector market is expected to hold the largest market share of more than 60% by the end of 2020.
During 2015, the education sector dominated the light projector market and accounted for nearly 37% of the market share. Across the world, governments have substantially increased their funding for the improvement and modernization of the education sector. As a result, many schools, colleges, and higher educational institutes have increased their spending on digitizing their education system by adopting the use of light projectors in the classroom.
Key players in the global light projector market: Canon, Epson, JVC, and Sony. Other prominent vendors in the market are: AAXA Technologies, ACER, BenQ, Hitachi Digital Media, Light Blue Optics, LG Electronics, Samsung Electronics, Toshiba WowWee and WowWee.
The global light projector market is highly competitive with the presence of multiple global players. The leading providers account for the majority of the market shares. Further, the report states that a major factor hindering market growth is the high switching cost involved.
Another related report is Global Pico Projectors Market 2015-2019, which forecasts worldwide pico projectors market to grow at a CAGR of 32.4% over the period 2014-2019. This report covers the present scenario and the growth prospects of the global pico projectors market for the period 2015-2019. To calculate the market size, the report considers revenue generated from the shipment of both standalone and embedded pico projectors. Browse complete report @ http://www.reportsnreports.com/reports/401364-global-pico-projectors-market-2015-2019.html.
Key players in the global pico projectors market: 3M, Microvision, Optoma Technology, Syndiant and Texas Instruments. Other prominent vendors in the market are: AAXA Technologies, ACER, AIPTEK International, ASK Proxima, BenQ, Canon, Light Blue Optics, Luminus Device, Greenlight Optics, Lempotix, Samsung Electronics, Maradin, Micron Technology, Mezmeriz, OPUS Microsystems, Toshiba and WOWEE Group.
Complete report on light projector market spread across 53 pages, analyzing 4 major companies and providing 32 data exhibits is now available at http://www.reportsnreports.com/reports/533999-global-light-projector-market-2016-2020.html
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