Growing film industry worldwide will enhance the market growth.
The global advanced cinema projector market is increasing proficiently, anticipated to grow at a CAGR of 9.9% throughout the projected period from 2019 to 2027, starting from US$ 96.2 Mn in 2018.
The rapid growth of the global film industry and the rising number of digital screens are anticipated to enhance market growth. According to a recent report, in 2018, there were more than 1, 80,000 digital screens worldwide, which is around 7% growth from 2017. In addition, rising technological advancements and fast adoption of 3D cinema are other factors expected to drive the global advanced cinema projector in years to come. In 2018, the 3D box office revenue reached nearly US$ 6.7 Bn and was projected to show around 13% growth yearly.
The benefits of advanced cinema projectors such as 3D technology, better-picture quality, conversion of 2D movies into 3D movies, and others are anticipated to enhance the significant market growth during the forecast period. In addition, increased adoption of advanced cinema projectors in residential places and auditoriums due to their flexibility, incredible brightness, color accuracy, and portability is expected to further enhance the market growth in future years. Furthermore, the rapidly growing film industry in the Asia Pacific is another key factor driving the advanced cinema projector market growth. However, high installation and maintenance cost hinders the market growth during the forecast period.
End-user Analysis
Rapid technological advancements with enhanced screen applications by top manufacturers will enhance the segment.
The commercial segment had a major share in the world's advanced cinema projector market in 2018. The aforementioned segment contributed more than 70% of the global market revenue share in the same year. Rapid technological advancements such as the advent of 3D technology in the film industry, 4K ultra-high-definition technology, and others are anticipated to enhance segment growth in years to come. In addition, the rising number of digital screens in Asia is expected to give substantial growth to the segment. Furthermore, the increased adoption of advanced cinema projectors for better picture quality in higher education classrooms, meeting rooms, and other commercial places is projected to boost the market growth during the forecast period. As a result of the aforementioned factors, the commercial segment is anticipated to continue its dominance throughout the forecast period.
Regional Analysis
Rapid increase of digital screens in the Asia Pacific will enhance the market in the region.
The Asia Pacific dominated the market in 2018 and contributed over 40% global revenue share in the same year. The Asia Pacific dominates the market owing to the rapid increase of digital screens in the region. The Asia Pacific had more than 65,000 3D screens in 2018. China and India are the major contributors to this dominance due to the market leader in the global film industry with 1st and 2nd ranks. In 2018, China recorded the highest box office revenue, valued at around US$ 7.9 Bn. Rising disposable income and an increase in the number of filmgoers in the region are other factors driving the Asia Pacific advanced cinema projector market.
Further, the growing adoption of advanced cinema projectors at offices, the education industry, auditoriums, and others are expected to boost the growth in the region. In addition, the advent of advanced and new technology and rising investments for the growth of multiplexes in the region are some key factors anticipated to boost the market growth in the Asia Pacific.
Product launch with new and advanced technology such as 4K ultra-high-definition technology and others is the key strategy for the market players.
Key Industry Development:
In August 2019, LG Electronics launched the LG Cinebeam 4K projector. The aforementioned projector is a full home cinema system coupled with 4K ultra-high-definition for better picture quality along with high brightness.
In September 2018, Seiko Epson Corporation launched the home cinema 4010 projectors. The projector comes with 4K PRO-UHD technology along with an ultra-brightness 4K experience.
List of Companies Covered:
BenQ Group
Sony Corporation
Seiko Epson Corporation
Barco NV
Delta Electronics, Inc.
Canon, Inc.
Christie Digital Systems USA, Inc.
LG Electronics
Hitachi Digital Media Group
Panasonic Corporation
Historical & Forecast Period
This study report represents an analysis for each segment from 2017 to 2027, considering 2018 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period from 2019 to 2027.
Segmentation Technology Type (2017–2027; US$ Mn)
Digital Light Processing (DLP)
Liquid Crystal Display (LCD)
Light Emitting Diode (LED)
Resolution (2017–2027; US$ Mn)
Less Than 2K
4K
8K
Brightness (2017–2027; US$ Mn)
Less than 4,999 Lumens
5,000-10,000 Lumens
Above 10,000 Lumens
End-user (2017–2027; US$ Mn)
Residential
Commercial
Geography (2017–2027; US$ Mn)
North America (U.S., Canada)
Europe (U.K., Germany, Spain, Italy, Rest of Europe)
Asia Pacific (Japan, China, India, Rest of Asia Pacific)
Rest of the World (Latin America, Middle East & Africa)
The current report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints, and opportunities to understand the overall advanced cinema projector market better. In addition, the global report also represents the competitive landscape based on market initiatives and strategies, product portfolio, and business strengths.
Frequently Asked Questions
The market for Advanced Cinema Projector is expected to reach US$ 96.2 Mn in 2028.
The Advanced Cinema Projector market is expected to see significant CAGR growth over the coming years, at 9.9%.
The report is forcasted from 2019-2027.
The base year of this report is 2018.
BenQ Group, Sony Corporation, Seiko Epson Corporation, Barco NV, Delta Electronics Inc., Canon Inc., Christie Digital Systems USA, Inc.,LG Electronics, Hitachi Digital Media Group are some of the major players in the global market.
