The Projector Screen Market is estimated to be valued at US$ 4,331.38 Mn in 2023 and is expected to exhibit a CAGR of 9.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Projector screens are large displays used to project images and videos created by video projectors in a wider view. They provide bright, focused images even in ambient lighting. Projector screens come in different sizes and surface materials to suit various applications such as home cinema, auditoriums, offices, and more. Flat or curved models are available depending on the requirement.
Market key trends:
The key trend fueling the growth of projector screen market is rising adoption of laser projectors. Laser projectors offer superior brightness, sharp contrast, and vibrant colors. They also do not require lamp replacement, thereby reducing the operational cost. However, laser projectors require special screen surfaces to display high-resolution images. Manufacturers are focusing on developing advanced screen surfaces that can reflect laser beams efficiently while minimizing glare and ambient light reflection. They are introducing screens coated with nano particles, quantum dots, and nano lattice structures to enhance light reflection from laser sources. This growing popularity of laser projectors is expected to augment the demand for compatible advanced projector screens over the forecast period.
Porter’s Analysis
Threat of new entrants: The projector screen market has moderate threat of new entrants as the market requires high initial investment and technical expertise. There are also economies of scale advantages for established brand names.
Bargaining power of buyers: Buyers have moderate bargaining power as there are many established players offering similar products at competitive prices.
Bargaining power of suppliers: Suppliers have low bargaining power as raw materials required for projector screens are commodity materials easily available from multiple suppliers.
Threat of new substitutes: Substitutes like television and tablets poses low threat as projector screens offers large display experience for professional use.
Competitive rivalry: The market has presence of many global and regional players intensifying the competition.
SWOT Analysis
Strength: Projector screen offers large display solutions for corporate presentations, events and home theaters. It provides immersive viewing experience to audience.
Weakness: Projector screens requires additional equipment like projector, cables making overall setup costly. Portable projector screens have limited brightness.
Opportunity: Growing demand from education and corporate sector for interactive large displays is an opportunity. Increasing theater culture at homes also boosting demand.
Threats: Declining sales of projectors hampering screens market. Emergence of technologically advanced large displays like LED and OLED replacing projector screens.
Key Takeaways
Global Projector Screen Market Demand is expected to witness high growth, exhibiting CAGR of 9.8% over the forecast period, due to increasing demand from corporate offices, educational institutions, and home theater market. Asia Pacific dominates the projector screen market currently due to high demand from China, India, and other developing countries. North America and Europe are also major markets however Asia Pacific is growing at fastest pace.
Regional analysis: Asia Pacific is the fastest growing as well as dominating regional market for projector screens. Countries like China, India, Japan, and South Korea are major contributors to the region's huge demand. Growing corporate sector, education industry, and rising living standards increasing home theater culture in Asia Pacific driving high adoption of projector screens.
Key players operating in the projector screen market are ACCO Brands Corp.,dnp denmark as,Draper Inc,Elite Screens Inc,Glimm Screens BV,Grandview Crystal Screen Co. Ltd.,Groupe Adeo,Harkness Screens International Ltd,Legrand SA,Pioneer Audio Visual Equipment,Pyle USA Sound Around Inc,Remaco Technologies Pte Ltd.,Screen Innovations,Seiko Epson Corp.,Severtson Screens.
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