Integration of Digitalization Coupled with Technological Advancements in Projector Lamps to Aid Market Growth, Evaluates Fact.MR
Published : 26 Aug 2021 Industry: Technology
According to the latest report published by Fact.MR - a market research and competitive intelligence provider, the global projector lamps market is presumed to surpass a market value of US $ 4.5 Bn by 2031.
LED light source is gradually gaining momentum and the segment is set to expand at a CAGR of 9% and be valued at more than US$ 550 Mn. Prolonged lifespan of LEDs has made this type of lamps more economical to use and maintain. LEDs produce comparatively less heat and noise than traditional lamps and are also smaller in size with reduced weight.
The global projector lamps market is moderately consolidated with a few players operating at the global scale. The market is highly competitive in nature, and tier-1 manufacturers account for more than 80% market share.
Key Takeaways from Market Study
- The global projector lamps market is set to surge at a CAGR of over 8% during the forecast period
- East Asia is set to experience leading growth over other regions such as North America and Europe, with an absolute $ opportunity worth US$ 670 Mn through 2031.
- Metal halide projector lamps are estimated to accounted for more than 65% of global demand, but lose 171 BPS owing to increasing demand for LED projector lamps.
- The residential end user segment is expected to expand at a CAGR of 8.8% and be valued at US$ 535 Mn by 2031.
- The OEMs segment is expected to expand at a CAGR of 8% be valued at US$ 3.5 Bn at the end of the decade.
“Sales of metal halide lamps is mounting due to widening digitalization across the globe, which will further drive demand for projectors,” says a Fact.MR analyst
Prominent manufacturers across the globe strive for technological development in lamps in order to increase their lifespan and brightness with low noise and heat. Players are also strengthening their online sales and distribution networks to expand their reach globally.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global projector lamps market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031.
The study reveals essential insights on the basis Lamp Type (Metal Halide Lamp, LED Lamps, Lasers, Hybrid), By Projector Type (LCD –Liquid Crystal Display Projectors, DLP –Digital Light Processing Projectors, LCoS –Liquid Crystal on Silicon Projectors and Others), By Lumen Counts (Below 3500 Lumens, 3600-6500 Lumens, 6500-9000 Lumens and Above 9000 Lumens), By Rated Lifetime (Below 5000 hours, 5000-20000 hours, 20000-30000 hours and Above 30000 hours), By End User (Residential and Commercial), By Sales Channel (OEM and After Market) across six major regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
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Consultant – Industrial Goods