The projection mapping market is estimated to be worth USD 2.8 billion in 2021 and is projected to reach USD 7.9 billion by 2026, at a CAGR of 23.4%. The increasing adoption of projection mapping for media events, rising advertising expenditures, adoption of projection mapping for medical applications and increasing demand for high-brightness projectors are some of the key factors for the growth of the projection mapping market globally.
The market for projection mapping hardware is estimated to account for the largest share in the projection mapping during the forecast period Hardware needed for projection mapping majorly includes the projector and media server.The main component needed to carry out projection mapping is the projector.
The appropriate projector for the venue is selected based on the size of the venue and the ambient light present at the venue.For large venue applications, generally, multiple projectors are used collectively.
A projection mapping application comprises many projectors used collectively with few media servers and the required software. The need for multiple projectors and media servers for one projection mapping application makes hardware to hold the highest market share of the projection mapping market. The projection mapping market in retail is expected to witness robust growth during 2021-2026 Business owners are increasingly adopting projection mapping for retail to attract more customers to retail outlets, thereby increasing sales. A spectacular visual experience such as projection mapping in recent years has helped many retailers attract more customers and helps them to differentiate their products from those of their competitors by enabling more engaging promotional strategies.
Projection mapping market in the APAC region is expected to grow at the highest CAGR during the forecast period The projection mapping market in APAC is projected to grow at the highest CAGR during the forecast period.Factors such as the rise in the number of media events, the presence of many key market players, and increasing investment and expenditure by governments and other organizations on technology, tourism and advertising are driving the growth of the projection mapping market in APAC.
With multiple temporary and permanent projection mapping installations for various applications like media events, venue openings, entertainment, product launches and retail, APAC is expected to witness robust growth during the forecast period.
The breakup of primaries conducted during the study is depicted below: • By Company Type: Tier 1 – 55 %, Tier 2 – 25%, and Tier 3 –20% • By Designation: Directors – 50%, Managers – 20%, Vice-Presidents – 25% and Others – 5% • By Region: North America– 40%, Europe – 30%, APAC – 10%, and RoW – 20% The major players in the projection mapping market are Panasonic (Japan), Epson (Japan), BenQ (Taiwan), Barco (Belgium), Christie Digital Systems (US), Optoma Corporation (Taiwan), Digital Projection Limited (UK), NEC Display Solutions (US), Vivitek (Netherlands), ViewSonic(US), and AV Stumpfl (Austria).
Research Coverage The report segments the projection mapping market and forecasts its size, by volume and value, based on region (North America, Europe, Asia Pacific, and RoW), offering (hardware, software), by throw distance (standard throw, short throw), by dimension (2D, 3D, 4D), by brightness/lumens (3,500-10,000 lumens, 10,000-30,000 lumens, above 30,000 lumens) and by application (media events, venue openings, entertainment, product launches, retail and others) The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the projection mapping market. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.
Key Benefits of Buying This Report • This report includes the market statistics pertaining to offering, throw distance, dimension, brightness/lumens, application and region. • An in-depth value chain analysis has been done to provide deep insight into the projection mapping market. • Major market drivers, restraints, challenges, and opportunities have been detailed in this report. • The report includes an in-depth analysis and ranking of key players.
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