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Emphasis on Development of Next Generation Cinema Projectors to Provide Growth Opportunities for Advanced Cinema Projector Market

NEW YORK, UNITED STATES, January 28, 2022 /EINPresswire.com/ -- According to the new research report titled “Advanced Cinema Projector Market Forecast to 2028 – COVID-19 Impact and Global Analysis,” published by The Insight Partners, the market is expected to reach US$ 1861.33 million by 2028, registering a CAGR of 7.8% from 2021 to 2028.

Strategic Insights

Report Coverage Details

Market Size Value in US$ 1,100.69 Million in 2021
Market Size Value by US$ 1,861.33 Million by 2028
Growth rate CAGR of 7.8% from 2021-2028
Forecast Period 2021-2028
Base Year 2021
No. of Pages 181
No. Tables 106
No. of Charts & Figures 86
Historical data available Yes
Segments covered Illumination Source, End User, Resolution, Lumens
Regional scope North America; Europe; Asia Pacific; Latin America; MEA
Country scope US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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Rapid growth in demand for advanced technologies in the film industry and an increase in the 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. An increase in disposable income of the individuals, rise in the number of cinema hall/ theaters/ multiplexes, and surge in the number of filmgoers across the globe is forcing the market players to develop advanced technological cinema projectors. 

With the installation of the high-quality projector, projector screen, and audio equipment, the customer can have an entertainment setup at home which is comparable to cinema halls/theaters. Some of the prominent projector brands used for home theaters are Sony Corporation, Epson, Optoma, Viewsonic Panasonic, JVC, and BenQ, among others. The growing interest in the adoption of advanced cinema projectors for residential applications is expected to drive the market during the forecast period.

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 a steep decline in their revenues in 2020, however, since the beginning of 2021, the companies have been witnessing notable growth in their products among certain countries. The cinema projector manufacturers also experienced a decline in their revenues as the demand dropped substantially as a 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. 

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Rising Adoption of Advanced Cinema Projectors Across Residential Sector Globally

The advanced cinema projector for residential applications 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 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 new BenQ TH585, a Full HD Home entertainment projector, in India. 

Advanced Cinema Projector Market 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 Market: Competitive Landscape and Key Developments

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 key players in the global Advanced Cinema Projector market. The leading companies focus on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.

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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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About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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Sameer Joshi
The Insight Partners
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